Recession crimps Vegas casinos and construction
October gambling revenues in Clark County, Nev., plummeted 24.3% from last year, while area construction plunged 92% in October compared to the year before. The downturn has stalled development on several construction projects, including a $4.8 billion resort that is now on hold until 2010. MGM Mirage sold Treasure Island for $775 million to pump cash into finishing its $9.1 billion CityCenter, the largest private construction project in the U.S.
TIME | 12/29
This story published in AGC SmartBrief on 12/30/2008
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