P.M. BRIEFING : Laughlin Resort Plan on Hold
LAS VEGAS — Plans for a $200-million Golden Nugget Inc. resort in boom town Laughlin have been placed on the back burner due to unsettled economic conditions, company chairman Steve Wynn announced.
“We’re getting mixed signals from Laughlin,†Wynn said Monday night. “The Laughlin market needs to consolidate for a while. . . . We want to step back and let it settle a little.â€
Wynn made his comments to newspaper executives at the annual convention of the Associated Press Assn. of California, Hawaii, Arizona and Nevada.
Wynn announced two years ago Golden Nugget would build a major resort in Laughlin. Preliminary plans said the resort would have 2,000 rooms. That later was reduced to 1,000 rooms due to rapid growth in the tiny Colorado River gaming community and concerns about market saturation.
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