LAS VEGAS REAL ESTATE | HOMES FOR SALE IN LAS VEGAS | LAS VEGAS NEW HOME

Las Vegas hotel developer funds stopped and reduces construction work force.  Commercial real estate developer of the $3.1 billion Fontainebleau hotel alerted contractors of denied access to some of the $130 million in construction financing.

The constructions funds were expected to be available according to the developer last week.  A separate set of lenders apart from the $800 million pulled from financing a week prior stopped access to funding.

Continue reading Las Vegas Hotel Developer Denied $130 Million In Funds & Cuts Workers

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.

Continue reading Las Vegas Gaming Company Could Be Forced To File Bankruptcy This Week

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.

Continue reading MGM Mirage Volatile Financial Situation Not Affecting MGM Mirage Macau

Dragon City Las Vegas 22 acre site scheduled for real estate auction on May 16 at MGM Grand. Last January developer Andrew Lai filed Chapter 11 bankruptcy and defaulted on a Dragon City land loan.

View Larger Map

The Asian themed hotel casino near Chinatown is located on Spring Mountain Road.  The real estate auction will take place during the International Council of Shopping Center Convention at MGM Grand.

Continue reading Dragon City Las Vegas 22 Acre Site Scheduled For Real Estate Auction

Legal action in $9.1 billion real estate Project CityCenter Las Vegas brought on by joint venture partner Dubai World against real estate developer MGM Mirage.  Dubai World says their partner is mismanaging the resort located on the Las Vegas Strip.  The project has been riddled with financial difficulties.

Continue reading Legal Action In $9.1 Billion Real Estate Project CityCenter Las Vegas

New owner of Treasure island Las Vegas hotel was approved last week.  Phil Ruffin, previous owner of New Frontier, was ok’d by the Nevada Gaming Commission to become the new operator from MGM Mirage.  They are the same company building the massive Project CityCenter Resort located on the Las Vegas Strip.

Ruffin changed his initial payment to MGM Mirage by adding $100 million to the $500 million initially agreed.  This financial move is to decrease his total payment of $775 million by a $20 million discount.

Continue reading New Owner Of Treasure Island Las Vegas Hotel Was Approved Last Week