Luxury hotel tower construction stops as necessary redesign begins. Workers stopped interior work this week on the west tower Cosmopolitan high rise condo tower located on the Las Vegas Strip.
Exterior construction on the east and west towers, amenities and Las Vegas casino are continuing as planned. At completion, the 8.5 acres, will house 2,998 hotel condo units within Cosmoplitan.
Newest $1 billion resort opened to huge crowds at M Resort Las Vegas on March 1, 2009. Commercial real estate developer Anthony Marnell III opened the 390-room M Resort at 10 p.m. with plenty of fanfare and press.
Wynn Resorts Las Vegas cutbacks impact both Wynn and Encore Las Vegas hotels. Reductions include hotel casino employee salaries, hours, bonuses and 401(k) retirement plan contributions by Wynn Resorts.
Las Vegas St. Regis Residences by Sands Corp stops condo construction and some real estate expansion in China. The $1.8 billion in capital expenses reduction is a necessity or some of the gaming operator’s loans could be in default and end up in bankruptcy.