Sad Day For Mr. Las Vegas

BREAKING NEWS:
Local news media recently reported that our own Mr. Las Vegas was like so many homeowners by being behind in his payments on his huge Vegas Estate know as Casa de Shenandoah. Newton’s 38-acre residence in Las Vegas at Pecos and Sunset roads is just down the road from where I call home.

Reports state that Mr. Newton is delinquent on a $3.35 million loan. The loan, which initially was for $3.75 million in 2006 but was modified in 2007 to $3.35 million and was secured by Newton’s residence and associated Las Vegas land, as well as an aircraft described as a Fokker F.28 MK 1000.

The loan was to be repaid by May 30, 2009, but the Newtons failed to pay back all that was due and the loan has been delinquent since then.

UPDATE:
This morning the Marshall’s office arrived at Casa de Shenandoah along with three moving vans. It seems that Wayne Newton is walking away (or being carried away) from this beloved home and our Vegas landmark which has also seen the value drop to $2 million.

Wayne Newton is currently under contract with The Tropicana Hotel. His show entitled, “Once Before I Go” is scheduled to end in April. Does this mean that Mr. Las Vegas will be unemployed AND homeless?
That is sooooo Las Vegas.
~Cynthia Weber

CBS Morning Show video of when they toured Wayne Newton’s Home:

Tags: Acre, Breaking News, Cbs, Cbs Morning Show, Cynthia Weber, Foreclosure, lawsuit, Local News, Marshall, Mk, Moving Vans, Mr. Las Vegas, News Media, Newtons, Pecos, Residence In Las Vegas, Sad Day, Shenandoah, Sunset, Tropicana Hotel, Vegas Landmark, Wayne Newton

This entry was posted on Thursday, February 25th, 2010 at 10:19 am and is filed under News & Developments, Real Estate & Mortgage. You can follow any responses to this entry through the RSS 2.0 feed.