4 Stories

CityCenter: Las Vegas' $8.5B Stimulus Bet

Hotel-casino-condo-shopping behemoth brings 12K jobs, optimism to battered state

(Newser) - A gigantic addition to the Las Vegas Strip is a one-stop stimulus package for a city and state walloped by the recession and an $8.5 billion bet that happy days are near again. With 12,000 jobs, the CityCenter project—a kaleidoscope of condominiums, boutique hotels, shopping, and, of... More »

In Recession, Vegas Eateries Can't Beat Odds

(Newser) - Just a year ago, 25% of the country's highest-grossing restaurants were in Las Vegas—where diners ran up $15,000 checks and tipped waiters with wads of C-notes. But now restaurants are closing, new construction languishes half-finished, and more than 5,000 food industry workers have lost their jobs. "... More »

MGM Mirage Doubles Down on Global Market

Vegas brand expands to Asia, Middle East despite industry woes

(Newser) - With the hospitality business gasping for air and its own core business in trouble, MGM Mirage is going global in hopes of building its brand well beyond Las Vegas. Having sealed eight deals with hotel developers and in talks with 10 more, the company will introduce the Bellagio and MGM ... More »

Kerkorian Bets on Bellagio

Billionaire who controls MGM Mirage makes bid for its two hottest assetsi

(Newser) - Activist investor Kirk Kerkorian, who holds a controlling interest in MGM Mirage, is making a play to buy two of the casino company's crown jewels. Kerkorian's company, Tracinda Corp., is in talks to acquire MGM's Bellagio Casino and the $7.4 billion CityCenter development, currently under construction. Kerkorian currently owns... More »

4 Stories