Having never been to the Vegas Strip before, I always figured it was something like the downtown of a city. It's not.
The Vegas Strip is several miles long. That's quite a bit of real estate. Most of the casinos are huge parcels of the Strip. Not only do they have a quarter mile (obviously, this is towards the high end of the range) of land on facing the strip, but the property usually goes back quite a ways too.
Even on the most developed sections of the strip, there are still properties facing the strip that aren't very developed.
The point is: while longtime Vegas residents probably feel like the Strip is incredibly long, I predict that the Strip will continue to get longer and longer for the next few decades.