..

City Center Las Vegas Continues to Struggle

Written by:
Payton
Published on:
May/11/2010
City Center

MGM Mirage's CEO stated that despite operating losses and a write-down on its CityCenter joint venture, the casino operator has solid plans to attract more customers to struggling Las Vegas.

The company's plans have long centered around CityCenter, the $8.5 billion complex of resorts, restaurants, entertainment, retail shops and a casino it built with Dubai World, which opened in December. And state and local leaders have looked to CityCenter as a must-see attraction that will provide jobs and renewed motivation for visitors to come.

But the development's centerpiece Aria Resort & Casino lost $66 million during its first full quarter.

Additional additional stress on the project, Gov. Jim Gibbons is meeting with the primary builder of the $8.5 billion CityCenter project to try to resolve a dispute with casino operator MGM Mirage over an unpaid bill for construction of the Las Vegas Strip complex.

The City Center Builder (Perini) has filed a lien and a lawsuit against MGM Mirage in Clark County and wrote Gibbons last week to request the meeting. On Sunday, the contractor bought a two-page ad in the state's largest newspaper to publicly recount its complaint.

MGM Mirage (MGM) said it expects its $8.5 billion CityCenter resort in Las Vegas to post a $255 million operating loss in the first quarter, with total company earnings falling short of Wall Street's targets.

--

Payton O'Brien, Gambling911.com Senior Editor

Business/Financial News

Bitcoin Slips Below $50k After Musk Says Tesla Won’t Take It

Bitcoin Slips Below $50k After Musk Says Tesla Won’t Take It

The price of bitcoin fell below $50,000 Thursday morning after Tesla CEO Elon Musk tweeted a day earlier that the electric car maker would stop accepting the digital currency as payment for its vehicles.

Get a Job in Cryptocurrencies

Get a Job in Cryptocurrencies

Getting a job in cryptocurrency will more than likely require a certificate or degree.  One can begin by taking online courses.  Bitcoin Theory covers the design of Bitcoin as a system as prescribed by Satoshi Nakamoto.

Bitcoin Was Created With the Gambling Industry in Mind

Bitcoin Was Created With the Gambling Industry in Mind

In a sign that life may be coming back to normal following over a year of dealing with a global pandemic, CoinGeek's Rebecca Liggero Fontana sits down with the one and only Dr. Craig Wright in her first in-person interview in more than a year.

 One-Stop Wallet, Please!

One-Stop Wallet, Please!

While it may not be prudent to keep all of your eggs in one basket, it would certainly be nice if you could buy all of your eggs from the same market regardless of which eggs you want. The same could be said about the numerous crypto currencies available today. There are new ones popping up what seems to be almost every day. The problem is that you need to have multiple crypto wallets and use multiple exchanges in order to acquire, trade or sell them. 

SpaceX Accepts Dogecoin as Payment to Launch Moon Mission Next Month

SpaceX will launch a satellite to the moon next year funded entirely with the cryptocurrency dogecoin, Canadian company Geometric Energy Corporation (GEC), which will lead the lunar mission, announced on Sunday (May 9).

Syndicate