MGM Mirage’s 8.5 billion dollar high density eyesore opens tomorrow with it’s hotel/
casino spa, Vdara (isn’t that a type of onion? No wait, that’s a Vidalia):
LAS VEGAS – CityCenter, the 67-acre glass-and-steel metropolis that debuts here next week, is being billed as the next great mega-casino resort.
The $8.5 billion joint venture by MGM Mirage Inc. and Dubai World features the work of eight top architects and several luxury hotel and condo towers, a major retail complex, and, not least, a full casino.
It represents the next wave of uber-resort-casinos with everything under one roof. And it could be the last project of its scope to be built in Las Vegas for several years, analysts say, because of the credit squeeze, low demand, and an oversupply of hotel rooms.
“I don’t think you can describe CityCenter as a casino,” said Kevin DeSanctis, chief executive of Revel Entertainment Group L.L.C., which is developing the $2.5 billion Revel Casino in Atlantic City. “It’s much broader than that.”
Vegas is used to one-upmanship among developers, but CityCenter is its biggest bet yet – and its most expensive undertaking during a turbulent time for the gambling industry.
I haven’t been to Vegas since February but this monstrosity was already mostly fleshed out by that point and I didn’t care much for it at that stage. It was too big and the design felt more Los Angeles than Vegas. It will be interesting to see how this keeps MGM afloat during this recession.