An abridged version of the Broadway hit Spamalot will open in Las Vegas in 2007 at a custom-built theatre.
The New York cast includes Hank Azaria (left) and Tim Curry (right)
Casino impresario Steve Wynn plans to stage the show at his Nevada resort at a cost of more than $50m (£28.6m).
The musical, written by Eric Idle and based on the film Monty Python and the Holy Grail, opened on Broadway in March and won three Tonys in June.
Spamalot begins a US tour next year in Boston. Another production is due to open in London's West End in 2006.
According to industry newspaper Variety, the Spamalot Experience and Grail Theatre will be designed by Mr Idle and the show's set and costume designer, Tim Hatley.
The agreement calls for Spamalot to play at Wynn Las Vegas 12 times a week for 10 years.
"One of the things I've missed in Las Vegas is wit - something that is really funny," Mr Wynn told the Associated Press.
Spamalot will join another Broadway success, Avenue Q, at his $2.7bn (£1.5bn) hotel complex.
Hairspray and The Phantom of the Opera are also scheduled to open in Las Vegas over the next 12 months.