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March 27, 2009

Major bankruptcy may be headed to Vegas

If Dubai World, as threatened, pulls out of a partnership with MGM Mirage on Vegas’ City Center, it could have a domino effect on the whole Strip.

With other construction projects there on hold or shuttered, and Vegas near ground zero of the subprime bubble, this could be the last straw for Sin City.

Which, in a sense, is fine by me.

I have no problems with gambling.

But, there’s already too damned many people in that spot in the Mohave Desert, and the Colorado River’s about to run dry in its lower stretches.

Vegas could stand to lose about half a million people. At a minimum. Probably an even million population loss wouldn't be too off the mark.

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