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  #4601  
Old Posted Aug 7, 2008, 4:38 PM
Jake2006 Jake2006 is offline
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Does anyone have any information of the water feature that will be at City Center? It is being billed as a "one-of-a-kind water feature from Wet Designs, the architects of Bellagio’s famed fountain show."
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  #4602  
Old Posted Aug 7, 2008, 5:15 PM
justdefended justdefended is offline
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Originally Posted by Jake2006 View Post
Does anyone have any information of the water feature that will be at City Center? It is being billed as a "one-of-a-kind water feature from Wet Designs, the architects of Bellagio’s famed fountain show."
According to a sales rep, the CityCenter Fountain is a $25 million installation in front of the Aria Resort and Casino. It's supposed to feature light and water (no word about sound), but most details are kept under wraps.
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  #4603  
Old Posted Aug 7, 2008, 7:06 PM
Silas Silas is offline
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Jake,

54% of CC condos have been sold in the same way that 100% of Trump condos were sold on the first day.
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  #4604  
Old Posted Aug 7, 2008, 7:10 PM
ScottG ScottG is offline
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Originally Posted by justdefended View Post
According to a sales rep, the CityCenter Fountain is a $25 million installation in front of the Aria Resort and Casino. It's supposed to feature light and water (no word about sound), but most details are kept under wraps.
where would this go? exterior / interior?

im assuming inside - the exterior is too cramped
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  #4605  
Old Posted Aug 7, 2008, 9:22 PM
Jake2006 Jake2006 is offline
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Originally Posted by Silas View Post
Jake,

54% of CC condos have been sold in the same way that 100% of Trump condos were sold on the first day.
You could be right. Just reporting what they said in their earnings call.
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  #4606  
Old Posted Aug 8, 2008, 12:00 AM
justdefended justdefended is offline
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Originally Posted by ScottG View Post
where would this go? exterior / interior?

im assuming inside - the exterior is too cramped
It's on the outside near the Aria porte cochere. It's kind of a big circular driveway there and within the circle is the proposed installation.

It's so secretive that on some initial renderings there's just grass in the area.
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  #4607  
Old Posted Aug 8, 2008, 12:15 AM
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In other news, Deutsche Bank will foreclose on The Cosmopolitan.

According to Bloomberg, Deutsche Bank is in talks with MGM Mirage and Hilton to take over or partner on the property.

http://www.bloomberg.com/apps/news?p...nJE&refer=home
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  #4608  
Old Posted Aug 8, 2008, 12:31 AM
laguna laguna is offline
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cosmo

The article says that MGM or Hilton would possibly run the casino, not the entire project.

I spoke with a source at the Cosmo sales office early today and they said that unit sales were still on hold. They said that there were lots of closed door meetings going on with high level people in attendance.
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  #4609  
Old Posted Aug 8, 2008, 2:44 AM
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LVRJ in Jan. reported that MGM Mirage didn't dismiss taking over the Cosmopolitan if it made financial sense. Deutsche Bank had previously approached MGM about it.

http://www.lvrj.com/business/13860847.html

It would seem strange if MGM managed the casino and not the hotel operations, particularly when they excel in hospitality. Deutsche Bank is likely opting for partners until it can sell the Cosmo in a better climate.

With Deutsche Bank as the owner, one entity managing the hotel and another operating the casino, it's difficult to see how it would turn out with so many cooks in the kitchen.
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  #4610  
Old Posted Aug 8, 2008, 1:46 PM
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I was wondering when, not if, they were going to announce this. Summerlin Center will be delayed another year. It's already partially built with several steel frames in place. But it's being built by the same company that couldn't get financing for the Echelon mall, General Growth Properties.
http://www.globest.com/news/1213_121.../172895-1.html
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  #4611  
Old Posted Aug 8, 2008, 5:21 PM
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Business in Vegas down?

Yesterday I ventured to the outlet mall downtown and could barely find a parking space, even with the new multi-level addition. The stores were packed with shoppers, most of whom sounded like they were from Euro-land.

Last night I ventured to the Strip to check out the action. Knowing that Aug. is generally a slow month, MGM reporting losses, and it being a weekday, I speculated that it would be kind of slow. Boy was I wrong! The strip was jammed with pedestrians (and cars as usual). The Bellagio was so packed, I thought it must have a special event, but nobody knew of one.

I realize that my brief look is anecdotal, but surprising none the less.

Also, I stood on the upper deck of the Bellagio parking and viewed the massive Cosmo by moonlight, it was much more impressive in person.
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  #4612  
Old Posted Aug 8, 2008, 8:39 PM
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You have kind of a multiplier effect happening in Vegas. It's not so much the actual visitor count as much as the money count. I think I saw that occupancy is down about 2% on the Strip. Which means in a casino filled with 1,000 people, 2% is only 20 people so you might not really notice the difference. The problem is, those remaining 980 people paid less for their rooms. They also are gambling less (or hitting up the nickel slots instead of quarter slots more often). They are going over to McDonalds instead of higher-end places, not shopping as much, etc. etc. So, a slightly smaller number of people but spending less yields a lot less money coming in.
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  #4613  
Old Posted Aug 8, 2008, 8:58 PM
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Quote:
Originally Posted by The_Analyst View Post
You have kind of a multiplier effect happening in Vegas. It's not so much the actual visitor count as much as the money count. I think I saw that occupancy is down about 2% on the Strip. Which means in a casino filled with 1,000 people, 2% is only 20 people so you might not really notice the difference. The problem is, those remaining 980 people paid less for their rooms. They also are gambling less (or hitting up the nickel slots instead of quarter slots more often). They are going over to McDonalds instead of higher-end places, not shopping as much, etc. etc. So, a slightly smaller number of people but spending less yields a lot less money coming in.
mgm released their 2nd quarter results earlier this week and for them:

room occupancy is down 1% from last year
total casino revenue is down 4%, slot revenue is down 10% though
Food and beverage revenue was actually UP 2% from last year so everyone isn't going to mickey D's just yet

according to the latest reports from lv convention and visitors authority much of the fall is due to convention goers who have cut back on their spending dramatically from a year ago
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  #4614  
Old Posted Aug 9, 2008, 3:39 AM
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MGM profit dropped 69% in the last quarter.
http://www.lasvegassun.com/news/2008...ps-69-percent/
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  #4615  
Old Posted Aug 9, 2008, 7:34 PM
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Originally Posted by laguna View Post
Last night I ventured to the Strip to check out the action. Knowing that Aug. is generally a slow month, MGM reporting losses, and it being a weekday, I speculated that it would be kind of slow. Boy was I wrong! The strip was jammed with pedestrians (and cars as usual). The Bellagio was so packed, I thought it must have a special event, but nobody knew of one.
Many people are getting married this weekend, especially on 08-08-08 due to the beliefs that the number 8 is good luck (pronounced the same way as "Rich or prosperity" in Chinese. One of my mom's friends is getting married on 08-08-08 in Las Vegas, the capital of wedding chapels. This does not only apply to Chinese, many westerners are also marrying on this date because of the lucky 8 number.

Also, gambling on 08-08-08 (lucky date) can mean that you may have some luck at the table. This is why Las Vegas is packed this weekend.
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  #4616  
Old Posted Aug 10, 2008, 6:39 PM
neworleans neworleans is offline
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updated aerial satellite map of las vegas, maybe 3 months ago, from a very crappy website.

http://imageatlas.digitalglobe.com/ia-webapp/
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  #4617  
Old Posted Aug 11, 2008, 1:30 AM
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updated aerial satellite map of las vegas, maybe 3 months ago, from a very crappy website.

http://imageatlas.digitalglobe.com/ia-webapp/
Looks older than that, City Center is just a baby in that pic set.
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  #4618  
Old Posted Aug 11, 2008, 3:06 AM
Vtown420 Vtown420 is offline
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Some pics I found on flickr.

I hope during the next boom, we can get rid of that travelodge. What a awful waste of space across from city center.

http://www.flickr.com/photos/18895803@N03/2742844593/

How come they never finished the Miracle Mile Shops? Will they ever redo the facade along Harmon?

http://www.flickr.com/photos/18895803@N03/2743684276/

This pic is about a month old, but we haven't seen any updates, so...

http://www.flickr.com/photos/27794530@N08/2716985877


http://www.flickr.com/photos/mhab12/2716360170/


http://www.flickr.com/photos/mhab12/2716380064/


http://www.flickr.com/photos/oemebamo/2716665698/

The arch on the bridge is starting to take shape.

http://www.flickr.com/photos/dmclean/2664583698/
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  #4619  
Old Posted Aug 11, 2008, 3:36 PM
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Thanks for the photos Vtown. In the second photos, I was wondering what's going on with the construction at the NE corner of Harmon and the Strip. Looks like they're moving dirt around in the photo. Also, has there ever been a plan for this section? Since the Aladdin redo its had that awkward area exposed. It looks odd- especially with the shops surrounding the one strip of vacant land like a peninsula. I can't find a way to cut and paste the photo, sorry!
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  #4620  
Old Posted Aug 11, 2008, 5:38 PM
Aaron Auxier Aaron Auxier is offline
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MGM MIRAGE's PR Firm called me and wanted to make sure I don't (or anyone else for that matter) call CityCenter by the name of MGM MIRAGE CityCenter or MGM CityCenter as the project is just now called CityCenter.

This is because of the Dubai World involvement. I thought people here would be interested in knowing the official name and how it is to be spelled etc - simply...CityCenter.

It seems everytime MGM MIRAGE wants to make sure their product is properly represented, people get mad. If you were the PR firm for Coca-Cola, imagine if people were all over the internet spelling it "Coca soda".

We all spell the Bellagio correctly, I see no difference with CityCenter. I guess because of certain capitals and spacing people get frustrated.

Last edited by Aaron Auxier; Aug 11, 2008 at 6:14 PM.
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