House loses! $100m bill for Monte Carlo fire
15th February, 2008
The final cost of last month's devastating fire at the Monte Carlo casino in Las Vegas is being estimated at $100 million (£51 million).
That figure includes repairing damage caused by the blaze - which tore through the upper floors of the luxury casino gambling hotel three weeks ago - as well as the cost of lost business since the 3,000-room resort was forced to close its doors.
After taking journalists on a tour through the eighth and ninth floors of the casino hotel, MGM Mirage senior vice president Alan Feldman confirmed that the hotel would reopen some 1,200 room to the general public in time for President's Day this coming weekend.
He did not invite the media to inspect floors 27 through 32, which are believed to have suffered the most fire, smoke and water damage.
When asked to quantify the financial losses caused by the fire, Mr Feldman said: "When it is all totalled, we believe the cost for the repairs will not be over $100 million."
However, Deutsche Bank analyst Bill Lerner told the Casino City Times much of that figure would be absorbed by insurance firms, leaving the resort out of pocket by a more tolerable $20 million.
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