Construction of the wheel and the proposed larger 3-phase project for the site — London, Las Vegas — was abandoned, and the plot was sold in 2020 and then advertised for sale again in 2022.

[1][2] London, Las Vegas, as suggested by the official website, was to be a 38.5-acre property featuring 1,300 hotel rooms, a casino, the Skyvue wheel and 550,000 square feet of restaurants and shops—all of which would be architectural replicas of various British landmarks and neighborhoods.

[6] The Skyvue wheel, being "Phase I of London, Las Vegas" was intended to feature a large display billed as the "largest outdoor advertising LED screen in the world".

[8][9][10] Approved by Clark County Commission in March 2011,[11] it was announced at a media event and groundbreaking ceremony in May 2011 by Howard Bulloch of Compass Investments, who stated "we expect it to be up and running in time for New Year's 2012".

[16] In May 2012, the estimated opening date was further put back to late 2013,[9][10][17] at which time it was also reported that construction of the two main support columns had reached a height of 60 ft (18.3 m).