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LEAVING LAS VEGAS: The Deserted Casinos And Unfinished Hotels Of Sin City
The city's unemployment rate—14.2% in August—is among the nation's highest. The suicide rate—34.5 people per 100,000 annually—is the nation's highest. For those who aren't part of the 14,000 homeless, the housing market is a disaster.
And all over the Las Vegas Strip, hotels and casinos either stand empty or half-finished, with revenue streams running dry for many of the area's biggest entertainment companies.
The $2.9 billion Fontainebleau—a 3,815 room casino-hotel on the Strip—had its construction halted in 2009 after Bank of America cut off $800 million in funding.
(Source: VEGAS INC.)
The Echelon Place casino and resort was supposed to have 5,000 rooms, a 140,000-square-foot casino, and 300,000 square feet of shopping space, but $4.8 billion proved to be a bit much for owners Boyd Gaming Corp. Completion is years away.
(Source: Vegas Today and Tomorrow)
Originally a major part of the CityCenter development, the extravagant, glass-walled Harmon Hotel and Spa has been deemed structurally unsafe. It will be demolished in 2012 without ever having hosted guests.
(Source: Las Vegas Review-Journal)
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