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

Las Vegas on a losing streak
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.

 

Read More

Views: 1385

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Sandy posted photos
9 hours ago
Burbia posted a video

Catherine Fitts: Epstein, CIA Black Budget, the Control Grid, and the Banks’ Role in War

Programmable digital currency is the final piece of the global control grid that’s finally snapping into place. Catherine Austin Fitts on how to defeat it. C...
yesterday
Евеліна posted a status
"цікаво, воно цитатами виділяє, як моє особливе "я""
Friday
Евеліна posted a status
"на роботі, сонце світить, потрібно перепочити."
Friday
Евеліна posted a blog post

Ключові слова в тексті: як органічно їх вписати в статтю

Що таке ключові слова і чому вони важливіКлючові слова — це слова або фрази, які користувачі…See More
Friday
Евеліна is now a member of 12160 Social Network
Friday
Burbia left a comment for pohonemas33 team
"Quit promoting gambling on another site"
Friday
tjdavis posted a photo
Friday
pohonemas33 team commented on DTOM's photo
Thumbnail

Orwell - Football, Beer & Gambling

"kalau kamu cari tentang trik dan tips main slot online biar gampang menang, coba cek di situs…"
Wednesday
pohonemas33 team commented on tjdavis's photo
Thumbnail

DejaVu

"coba iin main game slot online di situs POHONEMAS33"
Wednesday
tjdavis posted a video

I, Pet Goat VI by - Seymour Studios | I, Pet Goat 6

I, Pet Goat VI by - Seymour Studios | I, Pet Goat 6It's time for great JihadI presented the events in the Middle East as an animated short film based on the ...
Tuesday
tjdavis posted a photo
Feb 22
rlionhearted_3 posted photos
Feb 22
tjdavis posted a video

Official Trailer NOVA '78 directed by Aaron Brookner and Rodrigo Areias

NOVA '78 is a documentary about New York City's 1978 Nova Convention, the legendary counterculture gathering featuring William S. Burroughs, Patti Smith, Fra...
Feb 22
Doc Vega posted blog posts
Feb 21
tjdavis favorited Burbia's video
Feb 19
tjdavis favorited cheeki kea's photo
Feb 19
tjdavis posted a video

Peter Sellers - The Party (opening scene)

HQ HD "Does that include television sir ?" ... is still the best trolling paradigm in a movie.Support this channel: https://www.patreon.com/MusicPoints#Pet...
Feb 19
Doc Vega posted blog posts
Feb 19
Snakedaddy favorited Parrhesia's video
Feb 19

© 2026   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted