The short version is this. Frank and Lorenzo Fertitta ran Station Casinos. Burdened by massive debt, they declared bankruptcy. Under the terms of the bankruptcy, they were allowed to keep a few of the properties in the portfolio such as Red Rock Resort and Sunset Station, but the rest were to go up for auction to the highest bidder. The Fertitta brothers formed a new company, Feritta Gaming, got financing, and put in their own bid to buy up the casinos that were being auctioned. Nobody else bid higher and so they get to keep everything, only with a lot less debt.

I'm still trying to figure out if I can do something similar wherein I can get rid of most of my credit card debt yet keep everything I own. Hmmmm.

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The project featuring multiple hotels, condos, and entertainment offerings cost about $8.5 billion to build but now is worth about $2.65 billion. That amount does not take into account the value of the buildings, their contents, or the land but even so, we're talking billions of dollars that have vanished into thin air.

CityCenter has been losing money since it opened in December but the parent company, MGM Resorts International, is painting a rosier picture for the rest of 2010 and 2011 saying that advance bookings, especially in the lucrative convention trade, are strong.

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The Take a Cab Award of the Week goes to McCarran International Airport, which is currently negotiating a lease agreement to open a liquor store in the baggage claim area. Hey, you can only carry 3.5 ounces of liquid on planes these days so it makes total sense!

The Thank God For Air Conditioning Award of the Week goes to July 2010 in Las Vegas, which recorded the highest average temperatures ever. The city sweltered under an average of 96.2 degrees for the month, up from the previous record set in 2007 of 95.4. While you're sitting there thinking, "that's not bad," consider that is an average of all temperatures during all times of the day, including after dark when it rarely dipped below 80. For 45 days straight the temperature was above 100 degrees.

The URL Award of the Week goes to New York-New York, which won a court case to claim rights to the web address newyorknewyork.com. Up until now the hotel has been using nynyhotelcasino.com as its official home on the web but expect that to change soon.

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The same goes for casinos in Vegas hotels as far as I'm concerned, but some people prefer the non-gaming properties for their quieter atmosphere. And let's be honest: most of the hotels without casinos are vastly easier to get in and out of than those with them. Other benefits are they can be cheaper than the casino-hotels and they are often the best bets (pardon the pun) for families.

So if you are one of those that might want to stay in a hotel without a casino, here are my recommendations for the best in Vegas:

The Four Seasons Las Vegas
It really doesn't get more luxurious than this, which means that inexpensive is not a word you will be using while visiting, but if you're going to spend this kind of money then you would have a hard time using it more wisely. Located on the top floors of Mandalay Bay, the Four Seasons has its own check-in, valet parking, pool, and restaurants but is connected to everything else the master property has to offer.

Loews Lake Las Vegas
There used to be a small casino in the building when this was a Hyatt but that is long gone and what is left is a gorgeous, lakeside retreat great for families or those just needing a resort-style getaway. It's a long drive (about 30 minutes) from the heart of Vegas but for some that could be a blessing.

Mandarin Oriental
As part of the CityCenter complex, you have plenty of gaming, dining, and entertainment options just steps away but the hotel itself is a Zen oasis of quiet, tasteful luxury. It ain't cheap, but it is worth it.

THEhotel at Mandalay Bay
Stupid name notwithstanding, this all-suite wing of Mandalay Bay operates as a separate hotel with its own check-in, valet parking, and spa meaning you can do everything without ever stepping foot in the casino. Or you can walk down a hallway and get your gamble on easily.

Trump International
The Donald's Vegas entry has some hurdles for many Vegas visitors. It's expensive and just a little bit snooty and it is a bit of a hike to get to the fun stuff, but if you can get over that the condo-style rooms are gorgeous and extremely comfortable.

Vdara
This property is a condo-hotel, meaning that the rooms can also be residences complete with kitchens and other live-in amenities. It's kind of staid compared to the rest of CityCenter but the excitement of the neighboring hotels with casinos such as Aria and Bellagio is very close.

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With that in mind, I thought I'd take you on a brief tour of the biggest and best shopping malls in Las Vegas.

The Boulevard Mall
Located on Maryland Parkway, about 2 miles east of The Strip, this is the mall that is just like the one in your city. Think Gap, Sears, Macy's, Foot Locker, and the like. It's not terribly special but prices are significantly lower than they are at the malls closer to The Strip so if you are looking for some basics, come here to save a few bucks.

Crystals at CityCenter
Probably the highest of the high-end malls in town, this new facility (opened in December of 2009) is only about half-full as of this writing but what's there is crazy expensive. Tiffany, Versace, Hermes, Cartier, Prada, Porsche, and Tom Ford are just a few of the signs hanging on the stores.

The Fashion Show Mall
The biggest mall in the city has nearly 2 million square-feet of retail bliss. Anchors include the state's only Nordstrom's, Bloomingdale Home, Saks Fifth Avenue, and Nieman Marcus among others plus about 250 other stores and shops.

The Forum Shops at Caesars Palace
Designed to look like a Roman street scene around the time of Caesar, this is the place that started the trend of shopping as entertainment. In addition to more than 160 stores there are statues that come to life, an aquarium with a fire show, a circular escalator, and a ceiling that changes from day to dusk.

Grand Canal Shoppes at The Venetian
Take everything that the Forum Shops is and substitute ancient Rome for Venice, Italy complete with a canal running up the center of it. As a mall, it is only so-so, but as an experience it is without rival.

Las Vegas Outlet Center
A few miles south of The Strip is this big collection of outlet stores from major brands such as Levi's, Converse, Tommy Hilfiger, and more. It is not quite as high end as its sister (see below) but it is enclosed and air-conditioned.

Las Vegas Premium Outlets
Near Downtown Las Vegas, this place offers up outlets from big names in fashion like Dolce and Gabbana, Calvin Klein, Armani, and Brooks Brothers plus a few other more down-to-earth offerings. If you hunt you can get some good deals but you have to put up with the open-air design, meaning don't go during the summer. Or at night in winter. Or when its raining. Or windy. Or...

Miracle Mile Shops
This mall used to be the Desert Passage, a highly themed Arabian Nights extravaganza containing a mostly pedestrian set of shops and stores. They redesigned part of it to be kind of a blandish American mall concept but some of the wacky is still there and the stores did get more interesting. You can find HM, Sephora, and more plus the usual collection of mall type outlets.

Town Square
Also open air but with a lot more shade, Town Square is designed to look like a small village complete with roads, sidewalks, and parks scattered throughout. There are lots of stores (H&M, Borders, Sephora, etc.), restaurants, and entertainment including an 18-screen movie theater.

For more retail options, visit the Shopping section of Vegas4Visitors.com.

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