How can you spend $10 Billion and spread $1/2NL or $2/4 limit? I guess any game is better than an empty table, but this doesn't make any financial sense at all.
Joined: Thu May 03, 2007 12:28 am Posts: 3680 Location: Drawing Dead and Getting There.
Same drop as 20/40 or 100/200.
jjmaximum wrote:
How can you spend $10 Billion and spread $1/2NL or $2/4 limit? I guess any game is better than an empty table, but this doesn't make any financial sense at all.
_________________ Life is six to five against. -Damon Runyon
The lenders pulled out the financing at the last minute causing the project to go bankrupt, lawsuits a plenty, contractors suing lenders, you name it. It's up for auction, last bid was around 150 million for what is completed so far.
This is land included? It's amazing because I remember property on the Las Vegas strip selling for quite a premium just a few years ago. It's funny how much has already been put into this project and the bargain that someone is going to get for picking it up now at just $150 million. I know that is a lot of money, but it seems that if you have the money available, and don't need to fight for credit in this market, this could be an excellent long term investment. What other casino was available 1/2 done for $150 million. How much was already put into the structure and land?
They've spent over $2billion on Fontainebleau so far. So $150M sounds pretty cheap. Except I believe they still have to come up with another $1billion to finish it, and the appraised value of the finished property was apparently right at $1billion.
Similar sorta situation exists with Harrah's buying PHo. They will be able to get a property at fire sale prices, but that doesn't mean it's a good deal. It might be, or it might just turn out to be another $850M of debt that they can't afford to pay off.
The ins and outs of CityCenter traffic How to navigate the Strip now that it’s home to a massive tourist magnet
Including THIS MAP showing how to get into the place.
The PokerGrump has a point on his blog which references that article.
PokerGrump wrote:
I was surprised--and a little disgusted--to learn some key facts: (1) There is only one self-parking garage for the entire complex. (2) To access this garage, you must enter the complex from the Strip--no back-roads way into it. (3) There is, however, a convenient back-roads entry to the valet services. (4) If the accompanying map is correct, you can only get to the parking garage from southbound Las Vegas Boulevard, and only exit again going southbound. (But it's possible the sketch is wrong on this detail and there's actually an intersection that allows you to go to and from the place either direction. We'll see.)
A problem with using Harmon to cross I-15 from the west is the fact Harmon does not intersect with Industrial Road. You need to circle around inbetween the Panorama Tower buildings to get on Harmon from Industrial and cross over to Aria. Eventually there is suppossed to be a connector that makes Harmon continue over the railroad tracks to the west of I-15 and connect to Flamingo near Valley View and Palms. FOr now you can take Polaris from Tropicana to get to Harmon or Take Industrila to Jerry Lewis and cirlce between Panorama to get to Harmon.
Harmon is open so I guess it is time for little drive to see what is accessible.
Joined: Tue Apr 08, 2008 1:23 am Posts: 2579 Location: Des Moines IA
JoeD wrote:
A problem with using Harmon to cross I-15 from the west is the fact Harmon does not intersect with Industrial Road. You need to circle around in between the Panorama Tower buildings to get on Harmon from Industrial and cross over to Aria. Eventually there is supposed to be a connector that makes Harmon continue over the railroad tracks to the west of I-15 and connect to Flamingo near Valley View and Palms. For now you can take Polaris from Tropicana to get to Harmon or Take Industrial to Jerry Lewis and circle between Panorama to get to Harmon.
Harmon is open so I guess it is time for little drive to see what is accessible.
Spreading 1/2 NL does not surprise me, but spreading 2-4NL does surprise me regardless that the drop is the same. I would figure that the smallest limit game would be 4-8, which would be similar to the Venetian, WYnn, or Bellagio. That makes sense. Even 3-6 makes some sense.
Joined: Thu May 03, 2007 12:28 am Posts: 3680 Location: Drawing Dead and Getting There.
I also might've guessed 4/8L for the first level game. Wonder if they'll take a jackpot/promotional drop? That'll tell something about what they're trying to be.
_________________ Life is six to five against. -Damon Runyon
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