Losses can pile up quick in Las Vegas, as MGM Resorts International is presently discovering with the Harmon Building.
After failing to complete the project – once the planned centre piece of the £5.5 billion CityCentre hotel, shopping and apartment complex – MGM has finally opted to take the nuclear option and blow the property up.
In a letter to Clark County Development Services, CityCenter senior vice president William Ham requested relief from a court order prohibiting alteration or destruction of the 27-story building, which has stood idyl since 2009.
MGM cites a number of irredeemable faults identified structural engineers Weidlinger Associates for its decision and have become embroiled in a bitter legal dispute with contractor Perini Building.
However, Perini has denied the claims the Norman Foster-designed building is unsafe and has accused MGM of seeking the destruction of the property for financial reasons.
“There is no question that MGM had buyer’s remorse in moving forward with the gigantic CityCenter project during the dramatic downturn in the real estate market in Las Vegas,” Perini said in a statement.
“MGM is now attempting to blow up the Harmon to avoid adding the Harmon as additional glut to its other vacant properties in CityCenter, under the guise of public safety.”
MGM reported operating losses of $127 million at CityCentre for the first six months of 2011 earlier this month.
A court order is currently stopping the destruction of the building while the legal dispute remains unresolved.
Also in the United States today, City.Mobi is celebrating the success of its new guide to Las Vegas.
City.Mobi offers the most comprehensive mobile travel guides available, with over 800 cities in 200 countries listed. Each is developed by the City.Mobi team to combine into a single global travel directory.
LasVegas.Mobi is the latest in this illustrious line up, offering click to call functionality – which means no scribbling down telephone numbers.
Most entries are also linked to websites where users can quickly access more detailed information if needed.
Other key features include information on accommodation, restaurants, attractions, entertainment, nightlife, shopping, and transport.
City.Mobi guides include user reviews and traveller utilities such as a translation guide, currency converter, news and local weather guide.