Tuesday, May 30, 2006

Las Vegas real estate prices

This is an article on how unbelievably expensive real estate is in Las Vegas. Even Donald Trump cannot build a casino there:
"We were very interested in Las Vegas until the price got so high," Trump Entertainment Resorts Inc. Chief Executive James Perry told Reuters in a recent interview. "We don't see ... having an opportunity there in the short term."

"The costs are getting to be prohibitive," Penn National Gaming Inc. Chief Executive Peter Carlino said in a recent interview. The numbers are out of control over there," Carlino said, referring to the Hard Rock deal.

"Land is not available in that area," said Peter Dunay, chief investment strategist at Leeb Group. "So it is very competitive and very tough."
In 24 hours I will be leaving Chicago forever to relocate to Nevada for at least a year. I hope I have better luck than these guys?

Link

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