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Foreclosures in Las Vegas have affected home sale prices dramatically.  Sale prices have fallen to levels only seen eight years ago due to two thirds of homes due to foreclosures.

Nearly the past 12 months rising home sales due to a multiple listing service median existing home price of $134,900 in March. The median price same month in 2008 has fallen 41.3 percent.

Record closings of totaled 3,626 homes or an increase of 85.6 percent.  The median price of bank owned home closings during March was even lower at $127,000.

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Hard Rock Las Vegas hotel unveils $60 million The JOINT concert venue today.  The old Joint will be converted to casino space much needed by the expanding casino hotel.  The new concert venue will accommodate 4,000 seats along with standing space for patrons to enjoy concerts, boxing, mma, corporate events and movie premieres.

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Las Vegas gaming company could be forced to file bankruptcy this week due to the missed $4 million interest payment due yesterday.  Riviera Las Vegas has no plans on paying Wachovia Bank their financial obligation.

This would be the third Las Vegas gaming company forced to file this year.  Riviera Holdings Corp. will face default is they don’t make their payment on the $245 million credit line held by their lender.

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MGM Mirage financial situation is not affecting MGM Mirage Macau according to managing director of MGM Grand, Pansy Ho. Project CityCenter made a $220 million payment.

Ho states they are keeping a close watch on the economic downtown in America and it should not be a big roadblock currently.

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