The Mob: Turning over in its grave!?

Give me the days when the Mob ran Las Vegas like a well-oiled (aka palm-greased) machine. I can hear "Joe Batters" shaking his head in digust over the recent dismal state of the Las Vegas economy. If the skim was still around it would surely take a major hit compared to those lush times during the Mob's heyday.

In February 2009, the Station casinos declared bankruptcy. Apparently, it was a planned bankruptcy spurred on by the amount of debt the casinos have incurred in order to go private. Compounding the problem is the drying up of cash flow because of the current economic environment.

A recent story says Boyd Gaming believes it has the cash and is ready to buy most of Station Casinos. The deal would be nearly $1 billion. Boyd's unsolicited offer stated the corporation can buy the Station casinos for a steal. In a letter to Station Casinos Chairman, President, and CEO Frank Fertitta, Boyd Gaming offered to pay cash for all or part of Stations casinos. The first deal offered $950 million for everything Station Casinos owns, except Boulder, Palace, Sunset Stations and Red Rock Casino.

Half-built Las Vegas Strip properties? Casino bankruptcies? Not so long ago some believed Las Vegas was recession-proof. Think again.

Mobwriter

President Obama isn't too thrilled about what new Las Vegas venture?

The answer to that question is the proposed Mob Museum, tentatively scheduled to open in 2010. Officially known as the Museum of Organized Crime and Law Enforcement, aka the Mob Museum would be housed in a renovated post office in a part of downtown Las Vegas.

While it doesn't look like the museum will receive any of the proposed taxpayer bailout billions, there are plenty of outside investors who are stepping up to the plate to invest in the unique Las Vegas venture. And don't rule out national funding if Las Vegas mayor, Oscar Goodman, has anything to say about. There's even a rumor that the Forum Shops at Caesar's could provide space should the original location fall through.

Naturally, rumors abound when something this big has been in the works for a long time. Check out the latest: http://www.lasvegasmikey.com/mob.htm.

Mobwriter