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Credit Crunch Sours Vegas Construction - ENR | McGraw-Hill Construction

Publication Date: 20-AUG-08
Author: Tony Illia in Las Vegas
Format: HTML

    
Description:
Las Vegas’ lucky streak is starting to run out. Several ambitious projects have been slowed, suspended or stopped altogether due to a slumping economy that has reduced the city’s tourist and gaming revenue. The Strip’s megaprojects, once immune from national economic woes, are now feeling the credit crunch from wary lenders still reeling from mortgage-related write-downs. Banks are reevaluating real-estate-related secured loans and asking for more hard-cash commitments than ever before.
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