Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Nevada > Las Vegas
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 08-07-2008, 10:44 PM
 
289 posts, read 1,039,912 times
Reputation: 85

Advertisements

Aug. 7 (Bloomberg) -- Deutsche Bank AG will foreclose on the $3.5 billion Cosmopolitan Resort & Casino in Las Vegas after developer Ian Bruce Eichner defaulted on a $760 million loan, two people briefed on the situation said.
article: Bloomberg.com: Worldwide
Reply With Quote Quick reply to this message

 
Old 08-08-2008, 08:59 AM
 
Location: LI ---> NYC ---> PHX/LV ---> ???
572 posts, read 1,684,619 times
Reputation: 246
hmmm.. first CityCenter goes broke, and now Cosmopolitan?

Guess the rebound is going to take a little longer, huh?
Reply With Quote Quick reply to this message
 
Old 08-08-2008, 09:52 AM
 
Location: Las Vegas
3,728 posts, read 9,475,380 times
Reputation: 1323
There are several projects here in town that have been put on hold...or foreclosed.

It's a sign of the times....although Cosmo has had trouble from the get go...
Reply With Quote Quick reply to this message
 
Old 08-08-2008, 12:48 PM
jpk
 
Location: Redmond, WA / Henderson, NV
531 posts, read 1,864,008 times
Reputation: 175
I don't think that's new news, Cosmopolitan has been in trouble for a long time.
Reply With Quote Quick reply to this message
 
Old 08-08-2008, 02:12 PM
 
Location: Houston, Texas
10,447 posts, read 49,662,314 times
Reputation: 10615
I have no sympathy for them. All the signs of this recession were there before they stuck that first shovel in the ground. That's just bad business building something of that nature and size when people are losing their homes and jobs are evaporating at an alarming rate.

Same goes for all this commercial building going on. Most of these new strip malls, after the automatic cash loan store, pizza palor and nail saloon, the rest of the mall remains vacant. Who is going to fill these vacant stores? Banks are not lending for small business. Entrepreneurs
are smart enough to realize consumers are cutting back and not spending in specialized stores in strip malls.

I see the commercial market starting to see some of these foreclosures in very short time. It is coming. Mark my words !
Reply With Quote Quick reply to this message
 
Old 08-08-2008, 03:23 PM
 
Location: Beautiful Upstate NY!
13,814 posts, read 28,501,960 times
Reputation: 7615
Remember the big flap when Burt Reynolds posed for Cosmo...now that seems so tame!
Reply With Quote Quick reply to this message
 
Old 08-09-2008, 08:34 AM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,208,368 times
Reputation: 2661
Note however that Deutsch Bank is completing Cosmo and is looking for a partner to run the Casino.

City Center is proceeding and does not have a problem with financing other than the whole world has gotten a lot tougher to deal with at the moment.

I do find lots of indications of the slow down. Beckers Steak House has gone to a 6 day closed at night operation. Virtually all the stores in the plazza with Beckers are gone and the twin unit across Smoke ranch is also almost empty.

Then again the Von's Plaza down the block and the plaza across Lake Mead are going well. As is the Albertson's Plaza at Cheyenne and Rampart.

Lots of coupons from the local restaurants...so they are hurting some. Local sushi guy says he is getting by but just...

We should really be ready for an upturn by spring.
Reply With Quote Quick reply to this message
 
Old 08-09-2008, 01:41 PM
 
Location: South Strip, NV --> Philly (Fall 2009)
2,404 posts, read 10,688,069 times
Reputation: 637
restaurants and small stores are really hurting...
Reply With Quote Quick reply to this message
 
Old 08-09-2008, 07:04 PM
 
Location: Beautiful Upstate NY!
13,814 posts, read 28,501,960 times
Reputation: 7615
Quote:
Originally Posted by olecapt View Post
Lots of coupons from the local restaurants...so they are hurting some. Local sushi guy says he is getting by but just...

We should really be ready for an upturn by spring.
Speaking of coupons...the amount of casino offers in my mailbox these days is amazing! I used to get a few a month...now I'm getting a few a day! Don't know about the local mailings...but is anybody else getting casino stuff in the mail at a much higher rate? It's not just LV, but AC...and Mohegan Sun too! They must really be hurting!
Reply With Quote Quick reply to this message
 
Old 08-09-2008, 07:12 PM
 
Location: Houston, Texas
10,447 posts, read 49,662,314 times
Reputation: 10615
Quote:
Originally Posted by jfkIII View Post
Speaking of coupons...the amount of casino offers in my mailbox these days is amazing! I used to get a few a month...now I'm getting a few a day! Don't know about the local mailings...but is anybody else getting casino stuff in the mail at a much higher rate? It's not just LV, but AC...and Mohegan Sun too! They must really be hurting!
Thats interesting. Those mailers seemed to stop coming but I haven't been to a casino in a little while. But when I go and use my card then those mailers seem to start coming again. Geez ya think somthing funny is going on?

When you use your players card it triggers more mailings. Those casinos have it all figured out. I used to go to sports book and they hand you comp cards at the window.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Nevada > Las Vegas
Similar Threads
View detailed profiles of:

All times are GMT -6. The time now is 02:52 AM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top