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: 1381

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 videos
21 hours ago
Sandy replied to Sandy's discussion Sick sci-fi sex fantasy written by Epstein's first benefactor people say inspired his twisted island... before author's SON ended up arresting him
"Interesting. I always thought he was still alive. Probably given some plastic surgery and a witness…"
21 hours ago
WIllow is now a member of 12160 Social Network
yesterday
Burbia commented on Less Prone's video
Thumbnail

Sydney Sweeney Has Great Jeans - Outrage AI Parody Song

"Props to Schottenstein on his foray out of the woods that was DEI and wokeness. "
yesterday
Burbia replied to Sandy's discussion Sick sci-fi sex fantasy written by Epstein's first benefactor people say inspired his twisted island... before author's SON ended up arresting him
"One of the theories floating around was Hilary Clinton's brother Hugh, was the one…"
yesterday
Sandy posted a discussion
yesterday
Doc Vega posted blog posts
yesterday
Less Prone favorited Sandy's video
Wednesday
Less Prone favorited tjdavis's video
Wednesday
Less Prone posted a video

Sydney Sweeney Has Great Jeans - Outrage AI Parody Song

AI Parody Music Video poking fun at the online hysteria surrounding Sydney Sweeney's American Eagle jeans campaign.✅ Blue jeans✅ Blonde panic✅ DEI gone wild✅...
Wednesday
tjdavis posted a video

How "Free" P*rn Sites Really Work (and Who Runs Them)

Excerpt from This Past Weekend w/ Theo Von #559 Laila MickelwaitFull Episode: https://youtu.be/9J7187j4PO4?si=2GUNymssKJpe6nEvFind Theo Von:Website: https://...
Wednesday
tjdavis posted a blog post
Wednesday
Doc Vega posted blog posts
Tuesday
Doc Vega commented on Ragnarok's video
Thumbnail

Charles Manson Talks About The Global Elite

"I've had my account with YouTube terminated before over bullshit excuses because they…"
Tuesday
Doc Vega commented on Ragnarok's video
Thumbnail

Charles Manson Talks About The Global Elite

"Remember, though he makes his points, this man used the Beatles White Album as his own manifesto of…"
Tuesday
Sandy posted videos
Monday
Sandy posted a photo
Monday
Sandy commented on Sandy's video
Sunday
Sandy posted a video
Sunday
cheeki kea posted a photo
Jul 30

© 2025   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