Boyd Gaming's $4.8 billion dollar Echelon project on the new North strip has been temporarily suspended awaiting rosier financial times. The announcement of the suspension came last week during Boyd Gaming's second-quarter earnings report where it was stated that Boyd's partners in the project were having trouble securing the necessary financing to continue as scheduled, due to the current difficult credit market. As a result of this announcement, over 800 construction workers lost their jobs.

The Echelon project is not the only Las Vegas Development which has been adversely affected by the current downswing in the market. Just last week it was reported that MGM's CityCenter project has also been having difficulties securing financing. Despite these problems, unlike other Vegas projects which have been abandoned all together, the Echelon is like MGM's City Center in that it's planners earnestly expect to complete the project as envisioned.

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