LAS VEGAS | Boom Project Rundown! 2.0 - Page 389

heyyoucharlie · #**7761** Posted **Dec 9, 2009, 8:56 AM**

Also, being the VIP week/weekend, I wonder if it was because of the VIP atmosphere they were trying to set for the opening... A dress code just to enter a building will never survive in the tempature extreems that vegas goes through.

leftopolis · #**7762** Posted **Dec 9, 2009, 12:42 PM**

Quote:

Originally Posted by Krases

I guess another bidder may enter the bidding war for FB.

http://www.lasvegassun.com/news/2009...fontainebleau/

I have seen some of their other plans before. I guess they want to target military personnel and veterans. Honestly seems a bit odd to me.

Good find...However, these guys sounds very un-serious--in the "competent business people/investors" sort of way. Frankly, the only thing keeping them from being laughed at is the patriotic, "we support the troops" mentality. Unfortunately, it's a lame idea to focus a giant-ass LV Strip resort--just for veterans. Just a wild guess on the figures, but they'd be shutting out 80-90% of foot traffic, for starters. Worse yet, they're using patriotism in an attempt to pull off a con.

cbotnyse · #**7763** Posted **Dec 9, 2009, 2:49 PM**

Quote:

Originally Posted by mdiederi

There are dress codes at many restaurants in Las Vegas resorts, usually what they call "casual business attire", and some of the ritzier restaurants, like Alex at Wynn, say "no casual attire, jackets suggested".
http://www.wynnlasvegas.com/#dining/alex/

sure thats certainly understandable, but the poster said he couldnt even get in the building! But if MO has no casino, then I can see a strict dress code, but not just to walk around the lobby and explore (especially with my camera). I cant wait to get there and check it out! (I'll be staying at Varada this weekend)

mdiederi · #**7764** Posted **Dec 9, 2009, 4:44 PM**

Quote:

Originally Posted by cbotnyse

sure thats certainly understandable, but the poster said he couldnt even get in the building!

I was responding to someone else.

Quote:

Originally Posted by VegasMatt

I always felt one of the thing that made Vegas kinda cool and unusual, was the fact you could show up for fine dinning in shorts and a t-shirt.

mac78130 · #**7765** Posted **Dec 9, 2009, 5:06 PM**

CityCenter's 5 new creations by WET Design: Lumia, Focus, Latisse, Glacia and Halo.

http://www.4-traders.com/MGM-MIRAGE-...egas-13287906/

mdiederi · #**7766** Posted **Dec 9, 2009, 5:28 PM**

Just over a year and a half ago Station Casinos announced that the site of the Wild Wild West casino on the corner of Tropicana and Dean Martin would be developed into an ambitious super maga resort project called Viva Las Vegas, and rival CityCenter in size. Well, today they have announced that the Wild Wild West will be rebranded as a Days Inn. So much for ambition.

justdefended · #**7767** Posted **Dec 9, 2009, 6:36 PM**

Good news for condo buyers:

CityCenter Selects PennyMac as a Lending Resource for Residential Buyers and Introduces a Seller Financing Program

http://www.prnewswire.com/news-relea...-78861297.html

mac78130 · #**7768** Posted **Dec 9, 2009, 10:03 PM**

ARIA's new website

http://www.arialasvegas.com/

ScottG · #**7769** Posted **Dec 10, 2009, 2:38 AM**

houston, we may have a problem....

driving home from work i took lv blvd (i know its not a commuters route - but i was just curious how the front of city center was coming along)

well, i spent about 10 minutes driving along the front of city center (traffic) and i witnessed two separate parties walking over and across the landscape barrier to jay walk over las vegas blvd - looks like people do not want to shlep up and over the pedestrian bridges as they are inset into the city center propery and might just be easier to risk the walk across the street instead (hey its the tourist mentality)

ALSO, there were only about 20 people walking along the crystals sidewalk - (maybe they were all inside?) across the street tho there was the normal pedestrian traffic....

maybe people still think that side is unwalkable, maybe people get absorbed into the building instead of along it - maybe there needs to be access to the pedestrian bridges closer to the sidewalk.

or maybe tourists' depth perception gets thrown off because of the size of city center and cant distinguish between the distance from across the street compared to where the (tall) ped. bridges are......

time will tell if they need to put higher walls along the sidewalk so people arent climbing up and over the landscape. < classy

mac78130 · #**7770** Posted **Dec 10, 2009, 10:09 AM**

Came across a few Cosmopolitan Night club renderings a while back, forgot to post them here..

http://www.moodesign.net/apps/photos...lbumid=3000324

CosmoVegas · #**7771** Posted **Dec 10, 2009, 4:52 PM**

Is anyone else starting to get a feeling that citycenter may not end up being as big of a deal as mgm had hoped? Just browsing through other message boards and news articles I found a couple of kind of interesting points. The second link is just someone on a message board, but his numbers do look close to correct. Any thoughts?

http://www.nypost.com/p/news/busines...jKaED4yu9GCiVM

http://messages.finance.yahoo.com/St...=2&frt=2&off=1

mdiederi · #**7772** Posted **Dec 10, 2009, 5:40 PM**

Quote:

Originally Posted by CosmoVegas

Any thoughts?

Seems logical. Sometime in just a few months Harrah's or Carl Icahn will probably start buying the debt for pennies on the dollar and take the place over in bankruptcy. That's the only outcome I can see at this point. There is no possible way CityCenter will make enough money to cover the debt payments they owe in 2010. They can try to take CityCenter public, but the offering probably won't attract enough investors because of the massive debt. I'm estimating that they have to make about three million dollars a day just to pay the interest on the debt, which doesn't leave much room for operating expenses, and you can totally forget about any profit.

justdefended · #**7773** Posted **Dec 10, 2009, 10:08 PM**

Quote:

Originally Posted by CosmoVegas

Is anyone else starting to get a feeling that citycenter may not end up being as big of a deal as mgm had hoped? Just browsing through other message boards and news articles I found a couple of kind of interesting points. The second link is just someone on a message board, but his numbers do look close to correct. Any thoughts?

CityCenter will not file for bankruptcy.

What the NY Post didn't attempt to research is that the $1.8 billion secured for CityCenter is a $1.8 billion credit facility that doesn't mature until April 2012 with certain financial covenants modified to provide CityCenter with flexibility in the first 18 months of operations.

Why would a consortium of banks lend $1.8 billion and expect to see short term results? This is a long-term investment not only for CityCenter but for the city of Las Vegas. To lend to a project of this scale only to place the borrower in a position of default would be absurd in the current economic climate.

MGM said this month that it doesn't expect the need to sell any more properties like the TI transaction. But if it was in dire need of cash, there are plenty of high-profile properties and land assets to sell off to reach certain short-term commitments. Also, Murren told Bloomberg this week that CityCenter is inoculated against any default by its owners, and future borrowings would be based on the project's credit rating and projected cash flow.

The Dubai debt situation doesn't affect CityCenter - it's fully funded. However, Dubai may be required to liquidate assets in order to pay creditors. That could involve their share of CityCenter, which would only benefit MGM Mirage.

The NY Post article attempted to lump Dubai's debt situation with an incorrect assessment of loan terms regarding CityCenter, not to mention not including cash flow generated from other MGM Mirage properties that could offset debt commitments.

Krases · #**7774** Posted **Dec 11, 2009, 5:41 AM**

Exactly. MGM has a lot of assets that it would be willing to part with to stay afloat. Not just casino's, but empty plots of strip front property.

VTAT has a map of MGM's properties here in the valley.

mac78130 · #**7775** Posted **Dec 11, 2009, 6:41 AM**

CityCenter opens new fire station

http://www.lasvegassun.com/news/2009...on-citycenter/

mac78130 · #**7776** Posted **Dec 11, 2009, 12:35 PM**

flickr photo by So Cal Metro

cbotnyse · #**7777** Posted **Dec 11, 2009, 2:42 PM**

I'm off to City Center! I have my camera and tripod packed. Expect lots of pics on Monday!

ScottG · #**7778** Posted **Dec 11, 2009, 7:42 PM**

interesting viewpoint on CC:
http://www.casinoguide.com/blogs/lif...-for-optimism/

I feel like the honeymoon is over before it’s even started.

’ve been trying to cheerlead my ass off, but I have to face facts. I’m a lousy cheerleader.

Yay, Vdara’s open!
Yay, Crystals is open!
Yay, Mandarin Oriental is open!

Now what?

Aria.

Then what?

I … Don’t … Know.

What in the hell does Las Vegas need with two goddamn non-gaming hotels? Didn’t Trump already try that? Despite the size of the property, it’s still going to have one, single, solitary casino. Oh stop the presses, Vegas is getting a casino.

Reality is starting to rear its ugly head. We are now one week removed from City Center’s official open, and I have yet to go back. I haven’t wanted to do so. There is nothing to do there except shop for diamonds, and ride a tram.

Granted, they don’t have a casino yet, but for christ’s sake, there are already 200 casinos in the Las Vegas Valley. Pick a game, any game, and I can go and play it right now. Are tourists really hoarding their gambling cash so that they can run em-masse and drop it at a table in Aria?

How much better can it really be than Planet Hollywood across the street? What criteria would Aria have to meet for the Vegas gambler to call it the greatest casino ever built?

I almost don’t want it to open because deep down I know that it’s written a check that it simply can’t cash. I fear that everyone likes the idea of City Center more than they will like City Center itself.

_ttam_ · #**7779** Posted **Dec 11, 2009, 10:27 PM**

Quote:

Originally Posted by ScottG

.... Despite the size of the property, it’s still going to have one, single, solitary casino. Oh stop the presses, Vegas is getting a casino.

Reality is starting to rear its ugly head. We are now one week removed from City Center’s official open, and I have yet to go back. I haven’t wanted to do so. There is nothing to do there except shop for diamonds, and ride a tram. ....

City Center will be connected by tram to 3 MGM casinos. The beauty is 2 of them have already been built! Monte Carlo and Bellagio.

Complex01 · #**7780** Posted **Dec 11, 2009, 10:55 PM**

Great pic from up above. Fancy...