credit crisis has begun to dampen construction, a big economic driver since the 1990s.Ĭranes have stalled at Boyd Gaming Corp's $4.8 billion partially built Echelon project as the company awaits financing agreements for two joint venture deals.Īnd the projection for new luxury hotel rooms to be built by 2010 is down by half from a year ago as the weak economy and credit constraints lead companies to reconsider their plans. Midwest and new casinos on Indian reservations like the MGM Grand at the Foxwoods casino in Connecticut. The other is the growth of places where gamblers can get a cheaper fix close to home, like riverboats in the U.S. No one knows how $4-a-gallon gasoline will affect their spending decisions, said Margaret Holloway, senior credit officer at Moody's Investors Service. One is high gasoline prices, which will hit the pockets of the more than half of Las Vegas visitors who drive in by car or bus. Two factors make the current downturn harder for Las Vegas than previous ones, according to analysts.
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