MGM Mirage Volatile Financial Situation Not Affecting MGM Mirage Macau

MGM Mirage Macau 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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Liens Against Real Estate Developer Pile Up Halting Condo Progress

Manhattan West CanceledLiens against real estate developer pile up halting condo progress in Las Vegas.  Economic downturn and improper construction has stopped construction on this $350 million ManhattanWest Las Vegas mid rise real estate development.

Problems arose for ManhattanWest last August. During this time the general contractor Camco Pacific replaced Apco Construction.

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Station Casinos Asks BondHolders For Chapter 11 Bankruptcy Approval

Durango Station ResortStation Casinos Las Vegas casino operator skips $15.5 million debt payment this week on their commercial real estate.  According to the Securities and Exchange Commission this is the second time this month Station Casinos has missed a payment.

A lawsuit was filed last week against Station Casinos which stated the bankruptcy was “without merit” by an individual bondholder.

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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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Las Vegas Commercial Real Estate Cites Economy To Delay Construction

Tivoli Village At QueensridgeLas Vegas commercial real estate cites bad economy to delay construction progress.  News strikes again in the city of delayed or halted developments.  The economic slowdown and rising construction costs delayed the $850 million Tivoli Village at Queensridge.

Another commercial real estate development is taking the wait and see approach to construction progress including Summerlin Centre, Manhattan West and Echelon Las Vegas.  They say continued construction will be at a slower pace.

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