Where Billionaire's Bet Big

Another day another mega-resort begun on the Vegas Strip. Just yesterday, Boyd Gaming broke ground on a $4.8 billion project called Echelon. That’s it on the right. Today comes news that MGM Mirage and Kerzner International are building a new resort on the corner of Las Vegas Blvd. and Sahara. A name and price haven’t been revealed, but Deutsche Bank analyst Bill Lerner noted that the 40 acres that MGM is contributing to the deal were valued at $20 million an acre or $800 million.

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