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Posted At : October 7, 2008 11:02 AM | Posted By : D McKee
Related Categories:
International,MGM Mirage,The Strip,Tamares Group,Boyd Gaming,Fontainebleau
Chuck Monster of VegasTripping.com is a man of few words, but he doesn't miss much (and his Dodgers are four wins shy of the World Series). He's run the numbers on Dubai World's purchase of MGM Mirage stock and found that the sovereign fund's $8.15 billion stake had lost $6,012,496,598 of its value by Oct. 3. To illustrate his point, he's whipped up a graph that puts it in terms that are, well, pretty graphic.
Is this going to end up as yet another saga of overseas investors coming to Vegas and getting taken to the cleaners (Swiss Casinos, London Clubs, Tamares Group, El-Ad Properties, etc.)?
What's in a name? A big headache, possibly. Chuck has also been compiling "Trippy" award nominations and Glenn Schaeffer may want to rethink that Fontainebleau moniker. Chuck's readers have written in with at least nine different spellings, not counting the only-too-inevitable "Fountain-blow." Boyd Gaming's in-abeyance Echelon doesn't prove very spelling-friendly, either. Six different spellings were offered, my favorite being "Echolon." Lord knows, Boyd's found the project to be no small pain in the butt.
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