Thursday, March 19, 2009

Harrah's in debt

As the economy strains both businesses and travel to Las Vegas, the Harrah's empire - the world's largest casino resort group - is in debt trouble. Harrah's owes some 23 billion to creditors and with a 10% drop in revenues last year it is not clear they can sustain this for long.

More at Hotels Magazine

Wednesday, March 4, 2009

Pressure on MGM Mirage as CItyCenter funding and completion remain in question

MGM Mirage bonds fell dramatically today as the 9 billion dollar Las Vegas CityCenter project, still slated for a December opening, struggles under the pressures of global recession. CityCenter's two key funders are MGM and Dubai World. They are seeking new sources of funding to complete the project, one of the world's most expensive developments.