[bumpercar]

So everything is OK right up until the day the gates are actually locked and contractors are denied access to the property? Funny.

Originally Posted by olecapt

Still abuilding. Cranes working away...

[bumpercar]

The Cosmopolitan (broken link)

Originally Posted by sheriff

A $3.9 bil project? Hardly---kind of renders this article inaccurate. The Cosmopolitan Resort & Casino, Las Vegas Condo Hotel Near Project CityCenter

[sheriff]

Originally Posted by bumpercar

The Cosmopolitan (broken link)

No, the link you provided states $1.8 bil. Cosmopolitan (broken link)

[sheriff]

Anyways, this project will definitely be completed. With 40,000 new LV rooms, there will be winners, and losers.

[sheriff]

Originally Posted by bumpercar

The Cosmopolitan (broken link)

This one claims costs have DOUBLED to $3 bil. ???? Las Vegas Business Press :: News : Cosmopolitan progress continues as financing remains uncertain I smell a rat.

[airics]

bumpercar- foreclosure on cosmopolitan --- so what, if it makes it to foreclosure, another corporation will buy and build.. happens all the time..

[bumpercar]

Here's a direct link: http://www.cosmolv.com/PDF/PressFactSheet_092607.pdf (broken link)

This fact sheet is from 9/26/07 so their estimates may have risen further.

The Cosmopolitan Resort & Casino
FACT SHEET

PROPERTY OVERVIEW:

The Cosmopolitan Resort & Casino is a full-service casino resort incorporated in a mixed-use,
urban high-rise development offering all of the elements to enhance and anticipate the way
society lives, works and plays. Located on Las Vegas Boulevard and Harmon Avenue at the
heart of the Las Vegas Strip, its sheer verticality and innovative design will provide guests,
condo-owners and visitors with unprecedented access to unique and myriad options for dining,
shopping, nightlife, gaming, socializing and indulgence.

• Two full-service high-rise hotel & condo-hotel towers extending 52 floors and rising
approximately 600 feet
• 6.9 million square feet of development on an 8.5 acre site
• 2,998 luxury hotel rooms, suites, penthouses & condo-hotel units offering unmatched panoramic views of the Las Vegas Strip
• 150,000 square feet of integrated ballroom, business, convention and conference space to
be managed by Global Hyatt Corporation
• 80,000 square foot casino incorporating the most advanced gaming technology
• 265,000 square feet of shopping and dining encapsulated within a sleek and striking
custom-designed 3-story glass façade and accessible directly from Las Vegas Boulevard
• A multi-purpose theater
• 40,000 square foot spa, salon & fitness center
• Three wedding chapels
• A 5-acre playground with multiple outdoor decks, including the exclusive Cosmo Club
with its beautiful sandy beach overlooking the Las Vegas Strip, an adult deck featuring
European-style bathing, multi-level bungalows and an amazing array of cabanas with
fabulous Vegas views
• 5-level underground parking structure for up to 3,800 vehicles


ESTIMATED COST: $3 Billion

GROUND BREAKING: October 25, 2005

STEEL ERECTION DATE: April 9, 2007

EXPECTED COMPLETION
DATE: Late 2009


OWNER/DEVELOPER: Ian Bruce Eichner, CEO 3700 Associates, LLC

Originally Posted by sheriff

No, the link you provided states $1.8 bil. Cosmopolitan (broken link)

[sheriff]

This project has "SCAM" written all over it. $1.5 bil, Perini is guaranteed $1.9 bil maximum, $3 bil?? The entire City Center is $7.5 bil.

[olecapt]

Originally Posted by bumpercar

So everything is OK right up until the day the gates are actually locked and contractors are denied access to the property? Funny.

No. Things are OK well past that point. Casino projects go belly up periodically in Las vegas as they always have. The classical reason is the owner has insufficient funding to get the joint up and running. That owner loses and someone else picks it up and finishes it and makes a lot of money. Recently see the Stratosphere, the Alladin and the Rampart Casino. Things do fail. See Spanish View Condos.

You are attempting to make the point that it is an unusual event. It is not. Certainly complicated by the credit market but thats life.

I will start to worry seriously when MGM stops work on City Center.

[sheriff]

Originally Posted by olecapt

No. Things are OK well past that point. Casino projects go belly up periodically in Las vegas as they always have. The classical reason is the owner has insufficient funding to get the joint up and running. That owner loses and someone else picks it up and finishes it and makes a lot of money. Recently see the Stratosphere, the Alladin and the Rampart Casino. Things do fail. See Spanish View Condos.

You are attempting to make the point that it is an unusual event. It is not. Certainly complicated by the credit market but thats life.

I will start to worry seriously when MGM stops work on City Center.

Not to worry--MGM, and Dubai WILL have this project open 11/09.