New Las Vegas megaresort City Center, which we reviewed in January (it features buildings by Daniel Libeskind, Cesar Pelli, Rafael ViÃ±oly, Helmut Jahn, and others) just reported its first quarter results. They weren’t good. The’s $8.5 billion project, owned by MGM Mirage andÂ Dubai World (which has finally worked out a debt restructuring deal with its creditors), recorded an operating loss of $255 million, and has only been able to sell about 100 of its 2,400 luxury condominiums, according to the Wall Street Journal. MGM is also locked in a lawsuit with its contractor, Perini Building Co, for defective workmanship and overbilling. For what it’s worth the company claims that it will soon begin to turn a profit on the project. Now that’s a Vegas bet we’re interested in following.