This past week has had all kinds of sparks flying over the announcement which was made earlier this week about MGM Mirage being sued by it's partner in the City Center development Dubai World. Dubai World became a partner in the massive multi billion dollar development when approached by MGM in 2007. This has become the talk of the town since the City Center development was suppose to be our ray of light amongst the darkness we have been experiencing here in Vegas over the last couple of months. Some say that Dubai World has sued MGM to secure a larger stake in the project but Dubai World has said it's only intention was to obtain some type of safety if MGM Mirage defaults on it's debts with banks. I personally don't think that MGM Mirage will be able to complete it's multi billion dollar development City Center with out having to sell some of their treasured assets. Treasure Island was just sold to billionaire Phil Ruffin and i suspect that there will be more sales in the near future. I have been able to obtain several news clips of the coverage of this story since it broke earlier this week and have included them in todays post. Enjoy and continue to check back for updates on this story as they occur.
Thursday, March 26, 2009
MGM Gets Sued By Partner Dubai World
11:10 AM
Makea Turner
