Some people say we don't have a sense of history in Las Vegas. Entertainment is our history, not the buildings. Not the casinos.

What will happen in Las Vegas? It's hard to say. The entertainment industry has been very strong and you've got large immigration and employment growth, well above the national average. So you have an increase in house prices, but it's related to the influx of new residents and job growth. But certainly that's a market that you should use some caution in the coming years.

Throughout its history, Las Vegas has been transformed repeatedly by a series of significant developments reflecting the creative energies of its builders and entrepreneurs. Our master plan represents a significant new direction for our city and our company.

Hollywood and entertainment people are in Las Vegas on a regular basis. Sports stars and legends from all sports are in our town, and now you bring in the best basketball there is in the world, the NBA All-Star game. Combine that with their legends, it is going to be a tremendous weekend for all the participants.

We are definitely slowing down and charging a lot more for it. We are out of Las Vegas. We are very much out of Miami, and we are hesitant in New York City.

Las Vegas has never been hotter, which shows in the gaming numbers through the end of the year. The casinos had record revenues of nearly $1 billion a month in gaming win, which is the best the state has ever seen.