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Last Gasp for Vegas?

Posted by: Nate Berg

27 November 2009 - 1:00pm

The $8.5 billion CityCenter mega project is set to open next week in Las Vegas. Many say it's likely to be the last major project in the struggling city for years.

"The $8.5 billion joint venture by MGM Mirage Inc. and Dubai World features the work of eight top architects and several luxury hotel and condo towers, a major retail complex, and, not least, a full casino.

It represents the next wave of uber-resort-casinos with everything under one roof. And it could be the last project of its scope to be built in Las Vegas for several years, analysts say, because of the credit squeeze, low demand, and an oversupply of hotel rooms."

CityCenter is the only mega project to complete in Las Vegas in 2009, as the global economic recession has caused countless others to stall or completely dissipate.

Full Story: CityCenter raises stakes on the Vegas Strip
Source: The Philadelphia Inquirer, November 25, 2009
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