MGM Resorts International (MGM)

[vegasheat]

Now that some of you spoke about your views on CC..let me give you mine. Let me start by saying I'm not a basher nor a pumper..just relaying on what I was told by a person that was invited as a VIP prior to opening to the public. I know many in the corporate dept that were responsible for the interior of the CC including the condos. Everything is portrayed as be all glitz & glamor when you look at it from a tourist point of view. They only opened 1,600 rooms out of 4,000 in the Aria itself mainly because they don't have all the furniture to open the rest of the rooms. They originally wanted to open the CC completed. Most of the furniture that was bought didn't come back like they expected. That's IMO is not good going into the Christmas - New Years Eve when the city will sell out of rooms (loss of revs). Drinks are $11-18 per drink and there will be a strict dress code just to get in the restaurants. I was told that one of the restaurants had unfinished tabletops but they wanted to open the restaurant. Rooms are overpriced for being in a recession and employees are quitting and returning back to their old jobs. They do not expect to cater to any locals as other hotels on the strip (is what I was told). Valet is 7 stories and no elevator for employees to take when the have to run to get cars in the summer when it's 115+ degrees. 19 valet employees already quit. This is only part of the problems. They are going to have a tough time in this recession with customer count at a low and not many with a lot of cash this time of year. I wish them luck and if this economy gets going again and they get things ironed out CC will be a cash cow for sure.

Btw, I do live in Vegas and have been here for the past 20+ years.

Below is a couple comments from Donald Trump (not sure if he was invited or not).

http://www.lvrj.com/news/trump-fires-back-about-citycenter-79711172.html

Comments from the CEO
http://www.lasvegasnow.com/Global/story.asp?S=11644885

A few god things on the City Center.
http://www.lvrj.com/news/firsts-are-foremost-79484657.html