Tiffany & Company showed off their designs this week for their latest store in Las Vegas, a new approximately 10,000-square-foot store at the CityCenter development on the Las Vegas Strip. The two-level store will be located in Crystals, CityCenter's 500,000-square-foot retail and entertainment district which was designed by Studio Daniel Libeskind and Rockwell Group. The store is set to open in December and will have an 85-foot-high glass facade which is shaped like a diamond. The overall effect is luxe with a bit of Vegas flash, the entrance will be gleaming black granite around Art Deco-inspired stainless steel doors and inside etched mirror walls, iridescent fabrics and glittering chandeliers add sparkle. The second floor will be reached via a spiral steel-and-glass staircase that is lit from underneath. There is a separate engagement ring salon and a private sales salon with can be reached via a glass bridge. This will be the third Tiffany store in Las Vegas there are two other shops on the Strip, one at the Shops at Via Bellagio and one at The Forum Shops at Caesars but this is the largest one yet. JCK Online has more pictures of the interior renderings.

Another Las Vegas Strip hotel is cutting back. We first heard about Caesar's Palace's billion-dollar expansion back in 2007. The plans included an overhaul of the Forum tower, new meeting and convention space, three pool villa suites overlooking three swimming pools and the 660-room Octavius Tower, named in honor of Julius Caesar's heir, the emperor Augustus (the resort already has an Augustus Tower, Octavian was the name he had before he ascended to power). Harrah's Entertainment has decided to delay the opening of the Octavius Tower simply because the demand for rooms isn't there.The villas, convention space and expanded pool area will open as planned. The company will open the tower once demand picks up again. The news follows the report that CityCenter, MGM Mrage's monster project is now down one 400-room hotel. For the past few years the answer to making more money as a resort operator in Las Vegas was to have more rooms but with travel and convention spending down a new plan is needed.

More economic trouble has come to the Las Vegas Strip. Las Vegas Sands, the casino empire run by billionaire Sheldon Adelson which includes The Venetian and The Palazzo, is facing a tough decision. The company must either immediately raise new capital, cut development or perhaps both in order to satisfy loan agreements. Stock shares fell by a dramatic one third on the news that the company may break its loan agreements.

The stock's prices have plummeted over the past year dropping Adelson's personal wealth dramatically. Once his shares were worth around $30 billion but with the latest drop his stocks are worth less than $2 billion. It is estimated that the long-term debt at the Sands is $8.8 billion. The Sands currently has projects in Las Vegas, Pennsylvania, Macau and Singapore. Casino revenues that might have continued to fuel these projects in better times are also dropping quickly. Even the convention business, the bread and butter of Las Vegas has also dropped off as companies cut off all unnecessary expenses.

It's a tough break for Adelson, who worked as a financial adviser and real estate investor and created the technology trade show Comdex before getting into the hotel business in 1989 when the bought the Sands. The 4,027-room Venetian and the 3,066-suite Palazzo are two of the most popular places to stay on the Strip. As the AP reports Adelson controls 70 percent of Las Vegas Sands personally and through family trusts and so his fate is inextricably linked with the fate of the Las Vegas Sands but at this point it is not known if he will use his personal wealth to bail out the company.

UPDATE: The Las Vegas Sands has suspended their building projects on the Cotai Strip in Macau, laying off a potential 11,000 workers.

Just in time for the frenzy of the holiday shopping season there is a new place to shop in Las Vegas. Town Square is a massive $750 million mixed-use development on the southern end of the Las Vegas Strip which opened last week. The development is home to 150 stores, 12 restaurants and an 18-screen cineplex. Town Square is more town than square, it has a total of the equivalent of 28 football fields worth of mixed-use space. Retail offerings include Crabtree & Evelyn, Chico's, Lucky Brand, Apple, Steve Madden, H&M, Tommy Bahama, a two-level, 92,000-square-foot Robb & Stucky, a Borders Books & Music superstore, Design Within Reach, Guitar Center and a 50,000 square-foot Whole Foods Market. A variety of restaurants are also scattered through the development and there is an 8,000-square-foot park that includes a pond. A separate children's park offers a tree house and a hedge maze. The development also includes nine office buildings and there is space for a future 270-room hotel.

The Las Vegas Strip is in a perpetual state of makeover madness. Buildings are torn down and rebuilt in newer and more lavish incarnations at a dizzying rate. Up next for the big overhaul is Caesar's Palace. The hotel has announced an expansion that will cost approximately $1 billion. The plans include the 665-room Octavius Tower, named in honor of Julius Caesar's heir, the emperor Augustus (the resort already has an Augustus Tower, Octavian was the name he had before he ascended to power). This tower will have three pool villa suites built along the second floor of the new tower which will overlook three new swimming pools. Outdoor areas will also include a whirlpool spa retreat, poolside café and nearby garden wedding venue. The existing 512-room Forum Tower will also get an overhaul. The expansion also includes new meeting and ballroom space. The entire expansion will be completed in early 2009.

The latest Las Vegas hotel to get a makeover will be the Luxor. As the Las Vegas Strip moves away from the its more theme park-like phase, the Egyptian theme of the Luxor seems a bit dated. Of course when your hotel has a giant pyramid it's a part of a challenge to stray from the original game plan. Nevertheless, the change is on. The pyramid and the beam of light will stay but the Egyptian theme inside will be toned down. Some changes are already underway such as the transformation of the Egyptian-themed RA nightclub being replaced by the soon-to-open LAX. The Egyptian-themed restaurants and shops are gone and according to this KVBC article, a possible name change, to The Pyramid, was even floated around.

It's always a bit of an event when a a condo project in Las Vegas actually gets completed. Sky Las Vegas is a 409-unit condominium complex that offers homes ranging in size from 870 to 5,500 square feet. The condos are located directly on Las Vegas Blvd. Amenities include an outdoor recreation area with a pool, garden space, putting green, fire pit, barbecue area and dog run. Inside amenities include a social room with Strip views, a span and fitness center, business center, screening room, billiard room with bar, valet parking and concierge services. The condominiums are priced from $500,000 to more than $5 million and in addition to penthouse units, Sky Las Vegas is offering three-story suites with rooftop garden patios. Certain suites are also available for rent.

The Signature at MGM Grand is for those who want to be in Las Vegas but also enjoy an enclave free of the omnipresent clinking of slot machines and smell of cigar smoke. The MGM Grand has announced the July opening of its third 576-suite tower. The all-suite tower will complete The Signature at MGM Grand complex, which offers a totally non-gaming, non-smoking environment. The Signature Towers have pool complexes with private cabanas, Jacuzzi and bar areas. The towers are also home to a fitness center, retail shopping, lounges, restaurants and meeting rooms. The suites are junior, one-bedroom and two-bedroom suites with Strip and mountain views. The rooms are decorated in a muted and luxe palette of earth tones complemented by wood furnishings. Amenities include king beds with 300-thread-count Anichini sheets; marble and granite bathrooms with Jacuzzi-brand whirlpool tubs and June Jacobs' spa products; Sub-Zero, Miele and Bosch kitchenette appliances; ultra-thin LCD flat-screen, high-definition TVs; and high-speed Internet access with wireless capabilities. Rates begin at $200 for a junior suite; $300 for a one-bedroom suite; and $510 for a two-bedroom suite.

Hope springs eternal for condo developers in Las Vegas. Sure condo projects are folding faster than inexperienced poker players at the big tables but that hasn't stopped the announcement of new projects. The latest is the Boca Raton condo complex. Boca Raton is located on the "South Strip" a bit far away from the main drag. The mid-rise projects will have 756 homes spread out over four buildings. Amenities include two pools, a 10,000 sq. ft. clubhouse, concierge service, fitness centers, outdoor trials and a private screening room. Phase One is set to be completed in December with 172 homes and prices range from the mid $300s to over $1 million. They've even got their first celebrity client, NBA player Paul Pierce, shown here with his Boca Raton shirt.