Although Sin City is suffering from a lack in tourism you wouldn’t know it if you were in Las Vegas last night. That is because Casino executives debuted their newest venture last night on the strip called the CityCenter complex.
This $8.5 billion 4,000 room resort is located in the heart of Vegas and developers are hoping that this will be the project that brings people back to the desert. One of the worst hit by this economic downturn, Las Vegas has seen a decline in gambling for 22 months in a row!
The 61-story Aria Resort & Casino was unveiled to over the top fireworks and fanfare, which is fitting for a city that does not use the world humble very often. Dubbed as the “21st century Las Vegas”, owners MGM Mirage and Dubai World boasted the new CityCenter would not only spark a new interest in Vegas, but it also will employ 12,000 individuals in the process.
Not everyone is excited about the new CityCenter idea. Hotels are suffering so much right now. What with people spending less money on traveling and gambling, many wonder how they will compete with their new neighbor. Room capacity in Las Vegas will go up 8.5 percent with the opening of Aria, as well as CityCenter's Mandarin Oriental and Vdara hotels.
I can’t blame these hotels for worrying. CityCenter, while beautiful and a new “must visit” on the Vegas strip, will definitely hurt nearby hotels. The pressure to compete will force many to lower their rates and when a hotel makes less money, people usually get canned. While MGM Mirage has stressed that this will in fact not hurt Vegas, but instead revitalize it, I just do not see it that way whatsoever. I guess it is easy for MGM to say this since they own pretty much the entire strip.
Will the new CityCenter bring you back to Las Vegas? Does it at all make you think twice about returning to the strip? Or are you already in love with Sin City and just see this is another way to throw away your money on slots and the tables? Leave a comment and share your thoughts.
Source: Associated Press
Flickr photo credit: snowpeak