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Current Events => Breaking News => Topic started by: RobJohnson on December 17, 2009, 01:15:01 AM

Title: Las Vegas Gambles on $8.5 Billion CityCenter
Post by: RobJohnson on December 17, 2009, 01:15:01 AM
(http://cmsimg.rgj.com/apps/pbcsi.dll/bilde?Site=J7&Date=20091216&Category=NEWS&ArtNo=912160429&Ref=AR&Profile=1321&MaxW=318&Border=0)

MGM-Mirage's CityCenter is possibly the biggest bet in Las Vegas' history. With four towering hotels, a casino, a high-end shopping complex and 42 restaurants and bars, it's an $8.5 billion, 18-million-square-foot behemoth and the crown jewel of the Strip.

Aria Hotel and Casino is the flagship of the CityCenter complex. "Nightline" was given special access behind the scenes as the centerpiece hotel was put through the paces for its grand opening.

Readying a 61-story resort is a formidable task: vacuuming escalators, making 4,210 beds, stuffing 21,000 pillow cases, watering 182,000 plants, counting $117 million in poker chips. Fifty thousand bottles of wine and 500 live lobsters have been stocked for the opening.

CityCenter hired 12,000 people to staff the complex. The project amounted to a privately-funded stimulus package for Nevada. But in a sign of just how bad things are in the recession-battered city -- 177,000 job applications flooded in for the coveted spots.

More (http://http://abcnews.go.com/Nightline/Travel/aria-hotel-casino-las-vegas-gambles-85-billion/story?id=9351518)


Of course Harry Reid is trying to take all the credit for this privately funded project, the largest one ever in the United States.
Title: Re: Las Vegas Gambles on $8.5 Billion CityCenter
Post by: littlelamb on December 17, 2009, 07:39:29 AM
Just amazing
Title: Re: Las Vegas Gambles on $8.5 Billion CityCenter
Post by: Lord Undies on December 17, 2009, 07:47:21 AM
Disgusting.  A monument to greed and the slavery of capitalism.  May it turn to rust and dust in the name of the working citizens of the world.

 ::) 
Title: Re: Las Vegas Gambles on $8.5 Billion CityCenter
Post by: RobJohnson on December 17, 2009, 08:40:24 AM
Quote from: Lord Undies on December 17, 2009, 07:47:21 AM
Disgusting.  A monument to greed and the slavery of capitalism.  May it turn to rust and dust in the name of the working citizens of the world.

 ::)  


:lmao:




Even Donald Trump is jealous  (http://content.usatoday.com/topics/article/People/Journalists,+Media,+Academia/Larry+King/06Yq5dZ85Oaqd/1?loc=interstitialskip)




Title: Re: Las Vegas Gambles on $8.5 Billion CityCenter
Post by: DumbAss Tanker on December 17, 2009, 09:21:07 AM
I dunno, the Vegas thing just seems to me to have been around long enough, and facing enough competition, that it's kinda peaked.  For this to pay off, it would require a runaway boom economy kicking in aobut when the Center comes on line, and for the 'Shiny' to still be on the whole Vegas scene generally.

It just seems that a whole lot of stars and planets have to line up just so for this to pay off, as opposed to becoming the catalyst for the next generation's investment bank bubble.
Title: Re: Las Vegas Gambles on $8.5 Billion CityCenter
Post by: JohnnyReb on December 17, 2009, 09:39:32 AM
Quote from: DumbAss Tanker on December 17, 2009, 09:21:07 AM
I dunno, the Vegas thing just seems to me to have been around long enough, and facing enough competition, that it's kinda peaked.  For this to pay off, it would require a runaway boom economy kicking in aobut when the Center comes on line, and for the 'Shiny' to still be on the whole Vegas scene generally.

It just seems that a whole lot of stars and planets have to line up just so for this to pay off, as opposed to becoming the catalyst for the next generation's investment bank bubble.

OOOOH!...but it's to big to fail. :whatever:
Title: Re: Las Vegas Gambles on $8.5 Billion CityCenter
Post by: DumbAss Tanker on December 17, 2009, 09:49:19 AM
Quote from: JohnnyReb on December 17, 2009, 09:39:32 AM
OOOOH!...but it's to big to fail. :whatever:

Yeah.  That's pretty much what I see as being the 'Main chance' outcome here.