Aria features a 250-foot-tall , 65-foot-wide marquee
and keep both MGM and CityCenter alive or take the company into bankruptcy . As any responsible CEO would do , he hoped for the best and prepared for the worst .
Kerkorian , who had lost billions in value , remained a supportive and reassuring voice to those executives under intense pressure , perhaps as concerned for their personal welfare as he was about the company ’ s peril .
The 24-hour deadline to refinancing ticked away , hour by hour , minute by minute .
On one telephone line was the legal team in New York City , which had dispatched lawyers in taxis , running bank to bank to sign off on renewed lending terms that were awaiting approval . On the other line was the second legal team , readily prepared to file for Chapter 11 . Two press releases were prepared , one for success , one for bankruptcy . Construction workers were ready with metal fences to encircle the properties and those leading the construction on-site were instructed to take documents from the office to their homes , in anticipation that the project could be terminated .
As one participant close to the blue heat of the moment said , “ It was like a movie ; we didn ’ t know which way it was going to go .”
With his last dollar , the gambler placed a final bet .
With minutes to go before the 2 p . m . deadline , MGM ’ s number came in . The gambling angels had saved the day .
We now know the name of MGM ’ s angel ; he was called Harry . Shortly before his passing , the extent of Senator Harry Reid ’ s intervention became clear . He had directly and personally intervened with MGM ’ s banks to ensure that the company would survive and CityCenter would be completed .
Why did the Senate majority leader save MGM ?
Perhaps the potential for tens of thousands of Nevadans becoming unemployed and the state ’ s largest taxpayer going under was of primary concern , which may have threatened the financial position of the state . Maybe the 50-year friendship between Reid and Kerkorian had played a role . Maybe a conversation between the two was had , maybe none took
place , but Reid needed no encouragement .
As Reid explained to The Nevada Independent in 2019 , “ No one in their right mind would have done what I did … But what I did there , I called presidents of banks , threatened them any way I could . I called the emir of Dubai or whatever the hell it was .”
Dubai World ’ s litigation ended . MGM received financial assistance and avoided bankruptcy . CityCenter progressed to eventual completion .
Opening
The ribbon-cutting ceremony for Vdara took place as originally planned , on December 1 , 2009 , with Aria , the centerpiece of CityCenter , 16 days later .
In terms of pure scale , nothing in the history of Las Vegas had ever come close , but CityCenter was not the immediate success that MGM needed .
Alan Feldman , the veteran MGM executive who had opened properties for both Wynn and MGM , reflects on the period :
“ Opening CityCenter was like opening any other property — things didn ’ t work , but things don ’ t work in every property . The customer response was favorable , but we missed the mark on some elements , notably with placing such an emphasis on technology . We opened without a marquee in front of the building , believing the dramatic architecture would convey the message .”
Aria eventually launched a 250-foot-tall , 65-footwide marquee in April 2013 . The 10,0000-squarefoot LED screen was the largest in the world .
The original appreciation of Las Vegas ’ architecture promoted by Venturi , Brown and Izenour brought forward the thesis that the external design of the casinos illustrated the experience that sat within — an architectural billboard , so to speak . The shining glass and modernized design promised a contemporary urbanism , found in the world ’ s leading global cities . However , with much of the unprecedented budget spent on design , technology and interior finishing , and the need to get open on deadline , perhaps the offering was not as urban contemporary as the exterior suggested .
Rival casino architects were quick to offer their opinions . One privately believed that “ the property was clinical , sterile and boring .” Another felt that it was “ the best casino planned by people that design
42 Global Gaming Business SEPTEMBER 2023