Vegas’s $7 billion CityCentre is US’s most expensive project

Las Vegas is constantly re-inventing itself and always seems "over the top" but never before, observers say, has there been this type of frantic building to keep pace with demand.

MGM calls its CityCenter project the "most expensive privately financed project in American history."

"This is the most outrageous, over-the-top expansion ever," said long-time developer Steve Wynn. The $7 billion price is far more than the previous record, set when Mr. Wynn and his financial backers spent $2.7 billion building the 2,700-room Wynn, which opened in 2005.

The mini-city bordering the Las Vegas Strip will feature six towering buildings that reach as high as 61 stories. Covering 67 acres, it will include a 4,000-room hotel, a sprawling convention center, a half million square feet of retail space and 2,700 condominium units.