"London-themed Thrill Park" Coming to the Vegas Strip?

The Las Vegas Sun ran an article yesterday about how Las Vegas doesn't really need a third observation wheel, but the news of the possible third one caught my attention because it was mentioned as being a part of a "London themed thrill park."

A what?  First, this obviously begs the question of whether amusements will return to the Strip - but then again many things proposed for Vegas are never more than a proposal.  Also, the details are thinner than thin, basically just that one item the thrill park would have would be called the London Thrill and would be an observation wheel.

Probably most interesting to me is that the park is proposed for a location literally on the Strip, quite in the middle of things:

Total guess on the land to be used, from the article it sounds like the yellow area

The land that would become the thrill park is sort of across from City Center, along part of the long walk between the MGM Grand and Planet Hollywood.  The project would cost $50 million, and no more details from the developer are being shared.  These hints at the plan only came out as the result of a visit to the zoning commission so the developer could ask for temporary retail stands during construction.

I'm interested to hear more of what is planned.  Is this traditional thrill rides or things like zip lines over bars and lounges?  Also a thought - is it weird that they used the phrase "thrill park" and that's what was used for the Orlando Thrill Park?  That might just be a coincidence, though.

If this turns out to be nothing, there still will be plenty of new water park activity in the area, though.  We've already got Wet'n'Wild Las Vegas and Cowabunga Bay.  Plus Genting is now planning on finishing the failed Echelon project on the North end of the Strip which will include a gigantic indoor water park. Oh, and Circus Circus has plans for a decent sized outdoor water park as well!

That's a lot of waves, but naturally my interest is peaked by this supposed London themed thrill park.  More details, please!