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Given the current state of the U.S. economy, many companies are taking steps to adjust through drastic job cuts, planned expansion postponements, or cancellations to make up for it at a time of high economic uncertainty. In this town, where gambling and coincidence games are part of everyday life, station casinos are gambling in different ways. They are betting that they will be successful if they do the opposite in today’s economic situation.

What Bet? They are currently accelerating their plans to build a massive casino resort in Las Vegas on a scale larger than the $8 billion MGM City Center. The new resort will be the largest casino that they have planned to build over the next 10 years.

Station Casino, owned by Frank and Lorenzo Pertita, currently operates 17 casinos that are better suited to Las Vegas residents than tourists, with theaters, bowling alleys, restaurants, and slot machines paying more than 90% of dividends. The brothers are pushing ahead with plans to privatize Station Casino last year and redevelop the area that housed Las Vegas’ Wild Wild Wild West casino and motel.

The property started with the idea of building a single casino, but quickly grew into a much more hands-on project as the Pertita brothers quietly purchased the various properties around them and expanded the area to develop. The new Viva Resort will feature at least three hotels and three casinos. Initially, the hotels will have more than 5,200 rooms on the 110-acre site when completed at a cost of over $10 billion expected. When the entire Viva development is completed, it will eventually have up to 10,000 hotel rooms. There are also plans to integrate it into the design, condo, and stadium to provide a venue for various events.

One of the reasons the Pertita brothers planned the project is their belief in Las Vegas’ continued growth over the next decade. Today’s economic challenges are at their peak, but they believe the economy will change and Las Vegas will grow to the point where it will become a profitable venture by the time the project is completed. One of the explanations for why they might try these risky proposals is that they are now a private company, so they don’t have to worry about responding to anxious shareholders. 파워볼실시간 However, to carry out a project of this scale requires investors to convince them that these investments are valuable and ultimately profitable. This is the problem, as the market needs to rise dramatically within the next two years to start a project on a schedule where capital markets decline and station casinos accelerate.

Frank and Lorenzo are currently focusing on the next year or two to attract investors who have similar visions and are willing to invest. The Pertitas believe Las Vegas will continue to grow and expand enough for the local economy and population to sustain all planned developments, although the current economic situation is not good. They have several projects in the planning phase or in progress, such as the Aliante station, which will open in 2008. The brothers have purchased a substantial amount of property in Las Vegas and plan to continue developing it instead of waiting for the capital market to turn around. In addition to the Viva resort, they plan to break ground next year at Durango Station, another new project.

The company ultimately plans to develop and build over 500 acres of untapped land purchased over time across the Las Vegas Valley. Initially purchased for around $600 million, the land is now estimated to be worth $1.6 billion. The station’s vast land holdings provide a strong market position that is expected to improve as Las Vegas continues to grow. Most of the land that will be developed for the Viva Resort is currently home to small retail stores and warehouses.

Over the next decade, nine new casinos will be built in Las Vegas under Pertitas’ aggressive development plans. This will include a huge Viva complex that, when completed, will be the largest and most expensive off-strip casino in Las Vegas. When these nine casinos are completed, there will be a total of 26 casinos run by Station Casino in Las Vegas.

As history shows, long-term success in Las Vegas will require it to exceed the millions of tourists who visit Las Vegas each year. Station Casino plans to continue working towards new developments by providing a myriad of services that can accommodate local residents at each casino. Many casinos in Las Vegas have had to learn this lesson hard while experiencing failures by serving only the tourism industry almost exclusively.

Frank and Lorenzo Pertita continue to push Las Vegas’ grand development plan in anticipation of positive growth in the U.S. economy. As in many places in Las Vegas, luck will play an important role in the success or failure of the plan in Las Vegas as we work to get investors involved in the expansion plan. Investor acquisition is a big part of the plan, but it does not guarantee success and will only start the project smoothly.

Will aggressive play in investment and development games beat the mother of all jackpots or not? Only time will tell if the Pertita brothers” gamble will fail, or if it will be the hand of victory in this multi-billion dollar game of chance.