The biggest and most pretentious construction project in the Las Vegas Strip area is unlikely to come true. The Crown Tower Las Vegas was originally planned to open in 2011 and it was conceived to be one of the tallest buildings in the whole country and the highest Las Vegas hotel. But more lately the plans to finance and build the $5 billion giant are falling apart.

"We are removing Crown and its 5,000 rooms from our 2008-2012 development forecast." wrote Deutsche Bank AG casino analyst Bill Lerner

Now several media sources have reported that site in where the tallest tower in Sin City was supposed to be is now for sale. Las Vegas developers and several Wall Street analysts are sure that the $5 billion project is dead and buried. Crown Ltd, an Australian gambling company and investor Christopher Milam joined forces with York Capital Management LLC to develop a 5,000 room hotel and casino on the Las Vegas Strip. Unfortunately the project never gathered enough funds to begin with the construction works. The group put the site up for sale last week but also started looking for another equity partner as an attempt to keep the project alive. Several people already mentioned the names of several companies located in the Persian Gulf as one some of the possible investors. Dubai World already invested in Las Vegas after signing a $5 billion commitment with MGM Mirage for the development of the CityCenter project.