Building casinos Perini style

Feb 7, 2006 5:29 AM

Builders from Massachusetts were not expected to become major factors in the development of Las Vegas back a quarter century ago but that’s the way things turned out for Perini Corp. (PCR).

It was the acquisition in 1980 of a small contractor in Phoenix, Ariz., that brought the Bay State company to the Southwest and it was the receipt of a couple of small public works jobs in Las Vegas that gave the company exposure to the gaming industry.

The rest was history.

Perini became the largest gaming contractor, not only in Las Vegas but throughout the country.

The company recently built the Morongo Resort & Spa in California, and has signed on to build a $463 million hotel tower at the Foxwoods Resort and Casino in Connecticut.

Having recently completed the construction of the Red Rock Resort, Spa and Casino and the Renaissance Las Vegas Hotel, the largest non-gaming hotel in Nevada, the company has taken on the building of the $3 billion CityCenter project for MGM MIRAGE Inc. (MGM), the $1 billion Cosmopolitan Resort and Trump’s $370 million Las Vegas condo tower.

Also on the drawing board is construction of the recently announced Ultimate Sports Resort in North Las Vegas.

A company official recently noted in an interview that Perini executives were initially reluctant to get involved with Las Vegas projects but the entry into the gaming industry of publicly traded companies has changed the landscape.

Although the company’s contracts now takes it places as far away as Iraq, the success Perini Corp. has enjoyed in Las Vegas, with its history of completing projects both on time and within the budget, augurs well for future developments.