The Decline of Las Vegas
Busted flush: Las Vegas on a losing streak
Four years ago Las Vegas was the fastest-growing city in the US. Now it's America’s foreclosure capital
Image 1 of 5
The distinctive sign of the Sahara hotel is dwarfed by the shining blue Fontainebleau, a $2.9 billion hotel and casino development that went bankrupt in 2009 Photo: Jane Hilton
Sitting in the poolside restaurant at the Trump International hotel in Las Vegas, my eye was taken by a saying by the inimitable 'Donald’ etched into a floor-to-ceiling mirror: 'As long as you’re going to be thinking anyway, think big.’
Opened in 2008, the Trump International stands back from Las Vegas Boulevard, the main thoroughfare known as the Strip. With its 1,250 rooms and 50 penthouse suites on 64 storeys, the Trump is far from being the largest of the steroid-pumped hotel resorts along the Strip – it does not even boast a casino – and yet, standing in its perfect isolation, its windows clad in 24ct gold, it resembles nothing so much as a huge shimmering tombstone, a metaphor for the near-death experience that Las Vegas, where 'thinking big’ is what they do, has gone through in recent years.
Beside the Trump Tower is a vacant lot that was once the site of the New Frontier hotel. Opened in 1942 – the second hotel to open on the Strip, and in Las Vegas terms a building of outstanding historical importance – the New Frontier was the scene of Elvis Presley’s first Las Vegas appearance in 1956, and was briefly owned by Howard Hughes. In 2007 it was imploded – in the traditional Las Vegas style – to make way for a new $8 billion luxury hotel, provisionally named the Las Vegas Plaza, which was originally scheduled to open in December 2011. But the developers, hamstrung by the financial paralysis that has engulfed the town, have yet to break ground.
Beside the deserted site stand the skeletal steel foundations of another mega-resort, the Echelon. This was once the site of another historic Vegas casino, the Stardust, which was blown up in 2007. Plans for the Echelon include five hotels, a convention centre and a shopping centre, but construction was halted in 2008 when the American economy went into chronic relapse. The project’s owners, Boyd Gaming, say it will take several years and a further $4.8 billion to complete. Work will not be resuming any day soon.
Across the street stands the uncompleted shining blue tower of the Fontainebleau, a $2.9 billion, 3,889-room, 68-storey hotel, condominium and casino development. Building halted in 2009 when the Fontainebleau became the largest commercial construction to go bankrupt in the US. The property eventually passed into the hands of the corporate raider Carl Icahn for a song; the local rumour is that he is waiting for the price of steel to rise, when the hotel will be imploded and sold for scrap.
Comment
"Destroying the New World Order"
THANK YOU FOR SUPPORTING THE SITE!
Latest Activity
- Top News
- Everything
The 100 Series Designated for SAC and a Possible WWIII
The “100 Series” as these fighter aircraft were labeled were a succession of Mach II capable…See More
Human Be-In - Full Program - 1/14/1967 - Polo Fields, Golden Gate Park (Official)
Human Be-In - Full ProgramRecorded Live: 1/14/1967 - Polo Fields, Golden Gate Park - San Francisco, CAMore Human Be-In at Music Vault: http://www.musicvault....
"So sad to see a nice place be ruined by its inhabitants.... It's that shitholeness spreading…"
"Jesus Christ this is more diabolical than just about anything I've studied even though I knew…"
"Less Prone Nothing wrong with the planet. It's the inhabitants who are the problem."
"That assignment on the blue planet intrigued me a lot. And here we are now! I cannot say it's…"
Sebastion Piñera and 5G
Sebastion Piñera “The start of the bidding process for the 5G network. Let’s listen to the threats…See More
"cheeki kea that was damn funny and cute. Always appreciate your insights and memes! Wish I had a…"
© 2025 Created by truth.
Powered by
You need to be a member of 12160 Social Network to add comments!
Join 12160 Social Network