Timber: City Center May Fall Down During An Earthquake

Today, MGM, owner of City Center, said that the Harmon hotel, which has not been occupied, may fall down during a major earthquake in Las Vegas.
Never mind that Las Vegas has not had a major earthquake since man inhabited Las Vegas in the early 1900's.
From the LVRJ: The unfinished Harmon tower at CityCenter is virtually unrepairable and could collapse in a "code-level" earthquake, according to a structural engineer hired by MGM Resorts International who examined the 27-story building.
In the report, members of Weidlinger Associates of Marina Del Rey, Calif., said they ran several tests on the building and found missing or misplaced reinforcing steel in columns, beams, shear walls and transfer walls throughout the tower below the 21st floor.
"The construction defects in the tower observed to date are so pervasive and varied in character that it is not possible to quickly implement a temporary or permanent repair to remediate the defects, or even determine whether such repairs can be performed," Chuckwuma Ekwueme, an associate principal with Weidlinger told CityCenter Vice President of Facility Operations William Ham in a letter dated Monday.
A "code-level earthquake" is based on the probability of an earthquake strong enough to damage structures occurring once every 500 years. The rating varies by region, depending on several factors including fault lines and soil conditions.
http://www.lvrj.com/business/defects-in-harmon-tower-called-unrepairable-125385078.html
Considering that a major earthquake comes every 500 years. The life span of a major hotel or casino in Las Vegas is about 30-40 years, at best, I would take the chance, if I wanted to live or stay on the "Strip (I don't), I would have no problems staying at the Harmon Hotel, if I could afford it. I think my chances of being in an earthquake is really low.
Second, this hotel has been going up for the past 3-4 years and they just noticed it now? The MGM never noticed and even worse yet, the Clark County building inspectors didn't catch this alleged problem? Why?
My guess is that the MGM is short of money and MGM want the people designing and building the hotel to buy them the hotel. I feel no sympathy for MGM for just finding this out now.