New Vegas Resort Construction Date Set

[OTABILL]

Construction set to begin May 5 on Las Vegas megaresort

[alpax]

Thanks for sharing Bill, at least construction will go on that area. It was a real shocker to me to hear Boyd going way over their heads to build a multi billion dollar resort to try to enter the competitive luxury market, but then the recession might be a blessing in disguise for them.

Boyd is known to cater to locals and are the best source to those that actually care about gambling. Probably this new casino will have horrible paying machines to help towards the cost of the construction.

[notes1]

CET is trying to turn itself into a REIT, and being sued by debtholders. MGM is also considering turning itself into a REIT. both are doing this because of massive debt. every stat i read states the average vegas visitor is dropping less money into the machines. i know vegas gets 40 million visitors a year and they have a huge convention business, but, one would think they would be leery of building even more mega complexes and additional debt.    i just wonder if this is a result of so much cheap money and investors looking for yield. sound familar, like 2003-07. same thing happening with car loans.