September 29, 2008 / 9:20 PM / 11 years ago

FX Real Estate says reviewing Las Vegas plans

CHICAGO, Sept 29 (Reuters) - Real estate developer FX Real Estate and Entertainment Inc FXRE.O said on Monday in a regulatory filing it is reviewing plans to redevelop its Las Vegas properties, citing “dislocation and turbulence in the capital markets.”

“While no definitive determination has been made by the Company, it is unlikely that the program originally proposed will be undertaken,” the company said in a filing at the U.S. Securities and Exchange Commission. “The Company intends to continue the properties’ commercial leasing activities pending any such definitive determination.”

Las Vegas has been hit hard by the weakening U.S. economy, with gambling revenue down 6.5 percent in the year to July. (Reporting by Nick Carey; Editing by Gary Hill)

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