[olecapt]

Originally Posted by tony soprano

I've read this entire thread and can't find anything that someone should be eating crow over, much less multiple people. Can you quote one of the offenders? Are you in the right thread?

Here you go...

Sure I agree. I think even of the economy wasn't quite as bad as it is, it still would have been a bit of a stretch for such a large project to fill out and meet it's goals. Add in a housing market that's in the toilet or a general economic recession, and it's ever harder- add in both at the same time, and you've gotta wonder why they didn't pull the plug and cut their losses on this thing months ago.

Like when the first shovel-full of dirt hit the ground?...probably even before that. If this thing doesn't open...it has the power to bring ALL of LV down...and out! Leaving Las Vegas won't just be a depressing movie...it will become the mantra for a case-study of massive failure. Las Vegas used to be the city of hope...but is quickly becoming the city of failure.

People used to react positively when someone said they were moving out there, almost as if they were jealous that the other person was. Now if someone says they're moving there, the other person asks if they really want to do something like that...as if they are about to make the biggest mistake of their lives. Even visiting there is becoming unfashionable.

Sad times indeed for Las Vegas...and they may even get worse.

[olecapt]

I have said it before and I will say it again...these things are very profitable operations and will get completed and opened.

They represent great risks to their owners the debt holders. They are however wonderful assets to the city and its work force.

I do think it will be some years before the next mega-project. But that is probably good.

[airics]

besides, i expect the vegas economy to go up 30% the day i get there!

[MomMom]

Originally Posted by olecapt

I have said it before and I will say it again...these things are very profitable operations and will get completed and opened.

They represent great risks to their owners the debt holders. They are however wonderful assets to the city and its work force.

I do think it will be some years before the next mega-project. But that is probably good.

Not only that, but these expert "newbies" weren't living here during the early 80's, during the Reagan Recession or even the gas crisis of the 70's. It was a matter at that time, of who was filing bankruptcy, how many props were taking a hit with a lot of layoffs, reducing worker's hours, keep the lights off, cut any and all costs, put new "projects" on hold, etc.

Sound familiar?

To us long timers, we've all been through this cycle before.

Nevertheless, with 3 million visitors logged in by the LVCVA for January this year, I do believe they were all at Fremont Street last night, lol. It and the hotels along it WERE PACKED! Jeez, no parking to be found anywhere!

Jeez, what the heck was going on, was it all for March Madness or something? (college hoops)

[dynimagelv]

Originally Posted by MomMom

Nevertheless, with 3 million visitors logged in by the LVCVA for January this year, I do believe they were all at Fremont Street last night, lol. It and the hotels along it WERE PACKED! Jeez, no parking to be found anywhere!

Jeez, what the heck was going on, was it all for March Madness or something? (college hoops)

Nope....it was the Mint 400 off road race.
We are averaging 5 nights a week with 97% or higher occupancy and 2 nights a week with 77% occupancy.

Granted the room rates are down from last year but the occupancy is up....and bodies = players.

[tony soprano]

Originally Posted by olecapt

Here you go...

What exactly has been shown to be untrue?

I think even of the economy wasn't quite as bad as it is, it still would have been a bit of a stretch for such a large project to fill out and meet it's goals.

Are you saying the project has met its goals? What were those goals? To struggle with their debt service, flirt with bankruptcy, and get sued by their partner? Mission accomplished.

Sad times indeed for Las Vegas...and they may even get worse.

Perhaps you believe these are happy times in Vegas and know it's a certainty that they are only going to get better? Unemployment has peaked? Foreclosures have peaked? Gaming revenue has bottomed? It's blue skies ahead?

Certainly if someone should be eating crow you can point me to a declarative statement that can be shown to be false?

[airics]

just read jfk's posts and his prophecies about citycenter throughout the forum.. he is the vegas expert..

[aqualung8705]

Ah, but an expert is nothing more than an unknown drip under pressure.

[MomMom]

Originally Posted by dynimagelv

Nope....it was the Mint 400 off road race.
We are averaging 5 nights a week with 97% or higher occupancy and 2 nights a week with 77% occupancy.

Granted the room rates are down from last year but the occupancy is up....and bodies = players.

Oh so that's it! Man, what crowds. Even the last couple of weekends I've been down there it's been packed, I was figuring it was the sports books or something, because of March Madness.

I was at the Venetian briefly last night as well and it was very crowded there too.

Thanks for the heads up dyni...

[aqualung8705]

M's buffet can't be as bad as the one at the Sahara, or so I've heard. My sister and her husband treated me to CiCi's last night. Man, that's way more food than I'm used to eating these days.