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Las Vegas News of the Week

 
March 2, 2009
Vegas4Visitors Weekly

by Rick Garman


MGM Mirage Flirts with Cosmo
As part of a complex financial deal, MGM Mirage may wind up with another hotel in its portfolio: the under construction
Cosmopolitan.

A report surfaced this week that the company is in talks with Deutsche Bank to secure the rest of the money it needs to finish the massive CityCenter complex it is building. In exchange for hundreds of millions of dollars, MGM Mirage would take over management of the neighboring Cosmopolitan or even take ownership of the property.

Sounds odd doesn’t it? A bank lending a casino company a massive amount of money and then giving it another casino? That would sort of be like you getting a loan to buy a house and having the bank give you the money and a second house. Well, it’s not as strange as it sounds.

Deutsche took over the Cosmopolitan last year after its original owners couldn’t meet obligations and has been looking for someone to run the place once it opens. Deutsche is not in the casino business and wants to get rid of what could be a big liability on its balance sheets. So what better way than to have one of the biggest casino companies in the world take the reins?

The real risk here seems to be for MGM Mirage, which would not only be taking on even more debt than it already has but also taking on another hotel casino in this rough economy.

CityCenter is the gargantuan complex of hotels, condos, casino space, entertainment, and shopping that is under construction on The Strip between Monte Carlo and Bellagio. The estimated $11 billion project is scheduled to open in phases starting in October of this year.

The Cosmopolitan is a nearly $4 billion hotel and casino complex wedged onto a relatively small slice of land in between CityCenter and Bellagio. It is scheduled to open sometime in the spring of 2010.

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Cosmopolitan
Boyd Tries to Stop at Station
Boyd Gaming has made a nearly $1 billion offer to buy a bunch of the assets of locals gaming giant Station Casinos including
Green Valley Ranch, Fiesta Henderson and Rancho, and Aliante Station.

Boyd is the company that owns The California, The Fremont/a>, and Main Street Station in Downtown Las Vegas along with the now dormant Echelon project on The Strip where Stardust used to be. They also own the Coast Casino chain, which is Stations main rival for the local market with hotels like Orleans, Suncoast, and Sam’s Town.

Station Casinos is having financial difficulties and is expected to file for bankruptcy this month in an effort to restructure the company’s debt.

The deal would give Boyd seven of Station’s casinos including Green Valley Ranch and Fiesta Henderson on the southeast side of town; Fiesta Rancho, Texas Station, Aliante Station, and Santa Fe Station on the north side of town; the Wild Wild West just off The Strip; and several smaller casino only properties around town. Station would keep Red Rock Resort, Sunset Station, Palace Station, and Boulder Station plus all of the land it owns around Las Vegas that doesn’t have casinos on it yet.

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Vegas4Visitors Weekly Awards
The Special Guest of the Week Award goes to the surprise performer that joined Siegfried and Roy on stage at their farewell performance last weekend. The guest? Montecore… the tiger that bit Roy. Hmmm. That’s about all I have to say about that.

The Parade of the Week Award goes to Legends in Concert, the impersonator show which had a Mardi Gras style procession along The Strip from Imperial Palace to their new home at Harrah’s. Participating in the parade were Elvis, Diana Ross, Madonna, Elton John, Dolly Parton, and more… or at least impersonator versions of them.

The I Need Help Award of the Week goes to all Las Vegas visitors who may be saying that a little more often when the Traveler’s Aid station at McCarran International Airport closes at the end of March. The booth, funded by the airport but managed by Catholic Charities, helped travelers who found themselves stuck at the airport for whatever reason with vouchers for cabs, meals, and other services. Declining tourism has cut into the airport’s revenue and they say they can’t afford to keep the aid station going anymore.

The Now I’m Hungry Award of the Week goes to the Epicurean Charitable Foundation and the Lied Discovery Children’s Museum who are teaming up to create a healthy eating exhibit at Lied. The exhibit will have interactive features designed to help parents and kids start talking about nutrition. The food fun starts March 28.

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Feature of the Week

 
M Resort Opens
 

The M Resort is a $700 million hotel-casino from the Marnell family, a clan you may not have heard of but you definitely know their work. Their Marnell Carrao Associates construction firm was responsible for such famous buildings at Caesars Palace and Wynn Las Vegas. Whether they can run their own hotel casino instead of building them for other people is what we'll find out now that the hotel has had its grand opening.

It is located on the far south side of the Las Vegas valley, at the intersection of St. Rose Parkway and Las Vegas Blvd. South (aka The Strip). That's about 10 miles south of Mandalay Bay and for those of you who drive in from Los Angeles, St. Rose is one of the very first exits as you get to the outskirts of Las Vegas.

M features more than 400 rooms in a variety of styles. Standard rooms are generously proportioned and feature a sleek, modern decor with a 42" HD flat panel television, Bose "Wave" sound system, iPod docking station, high-speed Internet access, mini-bar, in-room safe, and a big bathroom with dual vanities, another TV, and a separate tub and shower. Bigger rooms add more square-footage and more niceties including sitting areas, wet bars, spa tubs, and more.

The casino is over 92,000 square-feet and features more than 1,800 slot and video poker machines of all denominations, 64 table games, a poker room, a race and sports book, and a high-limit area with its own outdoor patio.

If you're hungry there are several options:

Studio B – Show Kitchen Buffet
Studio B integrates a state-of-the-art restaurant with a live-action cooking studio. In the main dining room chefs prepare appetizers, entrees, and patisserie desserts. Guests of Studio B can enjoy beer and wine selections as part of their meal at no additional cost. Fast-paced, entertaining and ever--changing live cooking and technique demonstrations by culinary experts will have guests routinely coming back for more.

Marinelli’s –Italian
At Marinelli’s guests can dine in the stylish and comfortable restaurant or enjoy the terrace overlooking the Villaggio Del Sole. Menu selections include risottos, handmade pastas, seafood specialties, steaks, chops and veal dishes as well as selections from the Marnell family recipe book and wines from the Marnell family private label.

Terzetto – Steak and Seafood
Terzetto combines charcoal-grilled steak and seafood with an even better social atmosphere. Guests can savor hand-selected prime cuts of beef, including a reserve list from the Marnell family ranch and seafood specialties. Terzetto Oyster Bar will offer a casual dining option with made-to-order selections including soups, stews, and pan favorites, oysters on the half shell, seafood salads, cocktails, ceviche and pastas. To top it off, guests can enjoy an extensive wine list or hand-crafted cocktails and the unmatched views both inside and outside.

Restaurant Veloce Cibo & Bar Veloce
Gracing the summit of the M Resort, Veloce Cibo combines an extensive menu of appetizers, entrees, sushi, sashimi and nigiri with desserts and a range of hand-crafted cocktails and specialty drinks that will take center stage at Bar Veloce. Veloce Cibo offers amazing views of the Las Vegas skyline from its top floor terrace.

Red Cup Café – 24 Hour Café
This 1920’s art-deco inspired cafe is the place for hand-prepared American classics, Asian cuisine, fresh brewed coffees and homemade desserts. Guests can also choose from a wide variety of breakfast dishes.

Rounding out the dining offerings is a wine tasting room, an artisan bakery, a deli, and an outdoor Mediterranean café.

Entertainment comes in the form of a big outdoor pool area that can be set up for concerts plus a rooftop lounge and restaurant. A spa and salon completes the offerings.

Early reservation rates were running in the $150-250 per night range, but it looks like reality has set in and now you can get a room during the week for as low as $59.

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Feature of the Week

 
CityCenter Now Accepting Reservations
 

Two of the hotels in the upcoming CityCenter complex are now accepting reservations.

The all-suite Vdara Hotel will open on October 1st. Located near the back of the property and connected to the Bellagio, Vdara will feature nearly 1,500 rooms ranging from about 600 to over 1,600 square-feet in a 57-story tower.

Standard rooms include a separate living room with a pullout queen size sofa bed, pillow top mattresses, high-speed and wireless Internet, in room refrigerators and mini-bars, two-burner electric cook top, microwave, dining table, and a 42” LCD flat screen TV.

The hotel does not have its own casino but will have its own spa, pool, restaurants, and conference space.

Room rates will reportedly start at $159 per night and go up from there although a quick check of their rate calendar seemed to indicate that $200 and up during the week and $300 and up on the weekend was more common at this point. We’ll see if they are able to sustain those kinds of prices.

For more information or to make a reservation visit the hotel’s website at Vdara.com.

Aria is the main hotel and casino at CityCenter, now scheduled to open on December 16. With just over 4,000 rooms total, the standard accommodates will be over 500 square feet and feature custom mattresses, mini-bar, a 42” LCD TV that can be connected to your laptop or other portable devices, high-speed Internet, and an in-room safe. Technology is at the forefront in these rooms, with a multi-function remote control that will allow guests to customize everything from room temperature to lighting to ambient music and more.

The rest of the hotel will feature a big casino, new restaurants from celebrity chefs such as Michael Mina and Julian Serrano, a nightclub, a pool, a spa, and much more.

They are claiming room rates will start at $179 a night, but the reality check on their rate calendar showed most weekdays starting at $250 and most weekends starting at $350 right now. Again, we’ll see if they are able to keep rates that high.

For more information or to make reservations visit AriaLasVegas.com.

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