Wednesday, March 4, 2009

Pressure on MGM Mirage as CItyCenter funding and completion remain in question

MGM Mirage bonds fell dramatically today as the 9 billion dollar Las Vegas CityCenter project, still slated for a December opening, struggles under the pressures of global recession. CityCenter's two key funders are MGM and Dubai World. They are seeking new sources of funding to complete the project, one of the world's most expensive developments.