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November 30, 2009

Dubai World’s $8.5 Billion Las Vegas Gamble

Author: nick21 - Categories: Las Vegas Galleries

Dubai World are hoping its multi billion dollar investment in a 67 acre hotel, restaurant, shops and casino complex in the Las Vegas strip will bear fruit as its businesses begin trading tomorrow.

Dubai World recently sent shudders across world markets after they effectively defaulted on their $60 billion debt by asking creditors for a six-month extension on their re-payments. In this particular venture Dubai World had teamed up with MGM Mirage for the $8.5 billion CityCenter resort project, but both companies have been suffering financially of late and the stakes couldn’t be higher.

The development has been going on since 2006 but in the meantime Las Vegas has witnessed a sharp fall in visitors and revenue as the recession continues to bite. Nevada Gaming Commissioner Tony Alamo commenting on the development said:

“We’re in a 12-round fight. The first six rounds, you guys got beat up. We’re putting all our eggs in the `grow-the-market’ basket. I would be lying to you if I wasn’t concerned — that’s a reality.This is not just the company, it’s the state.”

Kansas billionaire Phil Ruffin, owner of nearby Treasure Island casino-resort echoed the general feeling of trepidation when he said, “It’s going to be bloody out there. We wish them all the success in the world because it would help the whole city of Las Vegas, but I can’t think of a worse time to open up 7,000 rooms.”

Ruffin, like many businessmen, believe that the woes which have befallen Vegas will only subside after unemployment drops nationally thus bringing in more tourists, but conversely as the CityCenter development approaches completion 10,000 labourers will be added to the national unemployment statistics.

Despite the level of skepticism in the air preceeding tomorrows opening,  MGM Mirage CEO Jim Murren appeared upbeat and struck an all together different take on the whole project:

“We’re at the eve of opening up something that was unimaginable this year,” he said. “ That will have a profoundly positive impact on our cash flows, our cross-marketing opportunities for our other properties, and on visitation and revenue to all of Las Vegas. I believe that it couldn’t happen at a better time now that we’ve survived the first six rounds of the fight.”

Source

August 7, 2008

Visit The Bellagio Gallery of Fine Arts For a Good Change of Pace

Author: nick21 - Categories: Las Vegas Galleries

The Bellagio hotel boasts some of Las Vegas’ biggest artistic masterpieces. The hotel lobby’s ceiling is adorned with a Dale Chihuly sculpture, commissioned exclusively for Bellagio. The piece, called Fiori di Como, is made of 2,000 colorful hand-blown glass flowers. The Picasso restaurant inside the Bellagio not only offers gourmet cuisine, but also surrounds diners with an extensive collection of original Picasso artwork.

But by far the largest display of art in the hotel can be found in the Bellagio Gallery of Fine Art. The gallery presents world-class exhibitions of art and objects drawn from internationally known museums and private collections. Past exhibitions have included Monet masterworks, Andy Warhol’s celebrity portraits, Faberge treasures from the Kremlin and Alexander Calder mobiles.

The gallery’s newest exhibit is titled  “American Modernism,” and it features more than 30 masterworks by American modernists. These carefully chosen works are among the most renowned paintings owned by the Museum of Fine Arts, Boston, and are on loan for the exhibit.Visitors can enjoy this exhibit through Oct. 15, 2008.

The period known as American Modernism began at the turn of the 20th century and reached its pinnacle between World War I and World War II.

At the time when Impressionism dominated American painting, many younger artists craved something unique and began to explore different arenas. These up-and-coming American artists became inspired with the vibrant and emotional artwork frequently seen in France and Germany. These artistic elements, also known as Modernism, became apparent in the United States in the early 20th century. While its exaggerated, unconventional style did not initially attract a lot of attention, Americans began to embrace it after seeing these works all over the country.

Notable artists in the Modernist period include Georgia O’Keeffe, Max Weber, Stuart Davis, Marsden Hartley, Helen Torr, Arshile Gorky and others.

Famed artist O’Keeffe began experimenting with painting by offering a subjective take on the traditional subject matter of still life and landscape. While she came from New York, a lot of her art draws inspiration from the Southwest. For O’Keeffe’s “Deer’s Skull with Pedernal,” she took an animal’s cranium and mounted it onto a twisted tree trunk. By painting a bright, vivid blue sky in the background, this contrasting element cleverly brings life to the skull. The gallery also features her New Mexico-inspired painting, “Red Tree, Yellow Sky.”

While Helen Torr didn’t receive as much attention as other Modernists, critics (including O’Keeffe) admired her work that illustrated a gentle, profound take on life. Since she and her husband lived on a tiny boat without a lot of room to paint, her work from this time was typically small in scale. In Torr’s oil painting “Evening Sounds,” she combined the use of pastel and dark colors. “Evening Sounds” depicts a close-up view of lavender oval rocks in a Zen garden that appears to be drifting off into silvery space. While the painting itself is small in scale, the color scheme and abstract elements evokes a strong, dramatic feel.

Other notable works include Max Weber’s “New York (The Liberty Tower from the Singer Building),” Leonard Maurer’s “Out of Eden,” Mardsen Harley’s “Black Duck”and much more.

At the end of the exhibit, visitors can watch a film and browse through a variety of books about the featured artists.

For those wanting to take a little piece of the experience home with them, an adjacent store at the gallery offers a wide array of unique gift items, books, toys, jewelry and exhibition-related merchandise including a full-color exhibition catalogue.