Purchase Of Treasure Island Las Vegas Hotel For $775 Million Approved

Treasure IslandPurchase of Treasure Island Las Vegas hotel for $775 million approved by the Gaming Control Board. The Board didn’t take long to ok the real estate transaction by Phil Ruffin.  Final ruling will commence on March 19, 2009 and 11 days later it will close with approval.

Terms for the commercial real estate deal will start with $500 million due to MGM Mirage at closing.  Another $100 million will be payable in six months.  Finally, $175 million balance due in two years with a 10 percent interest rate.

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M Resort Las Vegas Is Expected To Open For Business On March 1, 2009

M Las Vegas HotelM Resort Las Vegas is expected to open for business on March 1, 2009.  The local $1 billion Las Vegas hotel casino on 93 acres of land will have 390 rooms, nine restaurants, 90,000 square foot casino, 2.3 acres of luxurious pool, 20,000 square foot spa and 60,000 square feet of meeting areas.

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Las Vegas Hotel Purchase By Penn National Gaming Is Not Happening Now

Mirage volcano FireLas Vegas hotel purchase by Penn National Gaming is not happening now said this week by company sources.  Rumors in the news and online sources was the regional casino operator to purchase Mirage Las Vegas hotel casino surfaced after TI’s commercial real estate deal was announced.

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CityCenter Las Vegas Condos Canceled And One Year Construction Delay

Project CityCenter HotelsProject CityCenter Harmon Las Vegas condos have been canceled along with a one year construction delay.  Structural integrity construction issues have forced the Harmon residential component of 200 units to be canceled from the $9.2 billion resort and delay the opening of the luxury Harmon Hotel.

Update 1/5/09: Project CityCenter Jobs are now available.

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