Sinking SkyVue?

Work on the 500-foot observation wheel stopped back in the fall of 2012, but the developers insist the project near Mandalay Bay is still alive.

No news is no news on the stalled SkyVue observation wheel, a project that has been suspended since October 2012.

According to Vegasinc.com, crews recently removed the scaffolding around two support columns of the planned 500-foot Ferris wheel.

Despite the inaction, developers insist that the project is ongoing. SkyVue is located in a lot across from Mandalay Bay.

“We continue to work on Skyvue, however, we have no news to report at this time,” said David Gaffin, one of the project’s developer. “The scaffolding is not needed at this time.”