Archive for July, 2012

Harmon Hotel To Be Demolished

Monday, July 23rd, 2012

A ruling was made last week that will likely speed up the demolition of the $275 million Harmon hotel that is located at the City Center on the Las Vegas Strip. Industry observers are now wondering what will take its place in the City Center.

The $8.5 billion City Center resort complex is half owned and managed by MGM Resorts International. MGM has not provided any details or clues as to what the future site holds. With such a prime location, being located on the Las Vegas Strip, there have been many guesses as to what might go there.

It has more or less come down to two options: either a hotel-condominium project or a fully loaded entertainment complex that would include bars and restaurants.

Union Gaming Group analyst, Bill Lerner said “MGM Resorts will likely view the site as prime real estate,” adding on, “If one looks at the strength of food and beverage at the Cosmopolitan next door, it is a great proxy for the value of new development there.”

Lerner also said “I’m not sure exactly what they would build, but something that can pull volume into CityCenter, if not produce demand standalone, is doable in that locale. It is worth a significant amount of value in our view.”

The Harmon generates no revenue for the City Center, because of its construction defects. Once something is actually put there, it’ll increases the revenue coming in to the City Center.

Henderson’s Cornerstone Park Opening In Fall 2012

Friday, July 20th, 2012

Landscapers and construction workers have been working hard on the Cornerstone Park located at Stephanie Street and Wigwam Parkway. Something that a lot of people have been asking though, is when is it going to be opened?

Kim Becker, the communications and marketing supervisor for Henderson’s Parks and Recreation Department has finally given people an answer. October 6, 2012, the Cornerstone Park will open. This is also the same date that the 100-acre park will play host to the Southern Nevada Trails Day Celebration. The Pittman Wash and Union Pacific Railroad trails will be connected to Cornerstone Park.

Cornerstone Park was funded with a $16.4 million grant from the federal Bureau of Land Management, and the park has been under construction for quite some time now, since Jan 2012. The first phase of this big undertaking involved moving a lot of dirt, removing plants, and restructuring a 25-acre lake.

Beck commented on the removal of plants, namely the tamarisk species, saying “That tamarisk removal can take a long time. But if you don’t get it out, you’re going to have all kinds of problems because it’s going to kill everything else.”

Construction has now moved on to the large picnic area on the western side of the lake.

People can expect this park to be fully loaded, so to speak. There will basketball and volleyball courts, barbecues, picnic areas with tables, and eventually a tot lot and play structures.

 

October Nine Coming Back To Vegas

Wednesday, July 18th, 2012

The final table has been set for the 2012 World Series of Poker Main Event. This final table event is called October Nine, and nine highly skilful poker players will battle it out on the tables on October 28th to October 30th, for the championship title, as well as the championship prize of $8.5 million. At the end of the tournament, 7 players will walk away as instant millionaires, while two players will walk away with a little less, but still a great check none the less.

The World Series of Poker Main Event was hosted at the Rio Hotel and Casino in Las Vegas this year, and they will also play host later on to the October Nine Final Table.

This year, the players all hail from the United States, except one player, who is from Hungary.

Leading the pack with the highest chip count is Jesse Sylvia, followed by Greg Merson, Russell Thomas, Steven Gee, Michael Esposito, Andras Koroknai (Hungarian), Robert Salaburu, Jacob Balsiger, and Jeremy Ausmus.

The following is the seat each player will occupy, as well as their chip count:

1. Russell Thomas – 24.8 million

2. Jacob Balsiger – 13.115 million

3. Jeremy Ausmus – 9.8 million

4. Steven Gee – 16.86 millionn

6. Jesse Sylvia – 43.875 millionn

8. Andras Koroknai  – 29.375 million

9. Michael Esposito – 16.26 million