If it's true it's going across from the Mandalay Bay.
I would definitely stop staying at the MGM/Caesars and stay there then....as long as they don't make it too tacky or cheap as the Heartbreak Hotel currently is.
A Jungle Room Bar, Easy Come Easy Go Casino and the World Famous Clambake Seafood Restaurant.
Plenty of word play available for naming the bars/restaurants and suites in the Hotel/Casino should it ever become a reality.
The Sun Never Sets On A Legend...