Two Way Hard Three | Las Vegas Casino & Design Blog

June 21, 2009

City Center: Rescued From The Brink

Posted by Hunter

A story today in the RJ about how MGM Mirage saved City Center.

Despite painting a rosy outlook at the time, things were very close to catastrophe.

http://www.lvrj.com/business/48721837.html

This is a topic we touched on during a Vegas Gang show - I speculated that Murren and Co really pulled off a near-miracle in keeping the project intact. Knowing now that they did it without having to sell any additional Strip properties is even more amazing.


Categories: Bellagio, Business of Gaming, Condo-Hotels, Las Vegas Strip, MGM Resorts International
Tags: citycenter, lasvegas, mgm, mgmmirage, projectcitycenter, vegas


Comments

Read archived comments (3 so far)
June 21, 2009 5:56 PM Posted by Brian Fey

I predicted he would be Superman, and save the day, which is why I instructed all of my fellow Vegas lovers, to buy as much stock as you could possibly afford when it crashed earlier this year. I'm happy to report, its now up about 200% from its low, just this spring. In five years, I can only imagine where it might go.

June 22, 2009 7:06 AM Posted by jay

Bankruptcy?

July 6, 2009 5:02 AM Posted by detroit1051

CityCenter condos are facing more resistance from buyers who have put down deposits. They have even started their own blog:
http://online.wsj.com/article/SB124683603903997941.html
http://www.citycentercondodepositgroup.blogspot.com