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Dubai World was given permission to purchase up to 20 percent of MGM Mirage stock.  The New Jersey gaming regulators recently will permit the second largest MGM Mirage shareholder to purchase 10.5 percent more stock.

Continue reading Dubai World Given Permission To Purchase 20 Percent Of MGM Mirage

Aria Las Vegas resort named as Project CityCenter’s Las Vegas jewel of the $9.2 billion development on the Strip. MGM Mirage this week unveiled the name of the 4,004 room, 61 story high rise with two curved glass hotel towers.

Architectural company Pelli Clarke Pelli designed Aria’s 150,000 square foot casino area and the two hotel towers.

Continue reading Aria Las Vegas Resort Named As Project CityCenter’s Las Vegas Jewel

MGM Mirage Project CityCenter Las Vegas adds an extra $1 billion to the cost of the mixed use development according to a filing. Previous cost of construction budget estimations was near $8.1 to $8.4 billion.

Nationwide skyrocketing construction costs has weighed very heavily on Las Vegas real estate market. This mega resort is owned 50 percent by Dubai World in a buyout they completed last year.

Continue reading MGM Mirage Project CityCenter Las Vegas Adds Extra $1 Billion To Cost

Dubai World now owns half of MGM Mirage Project CityCenter Las Vegas. The Persian Gulf state investment subsidiary financially controls 9.4 percent of the MGM Mirage gaming company and 50 percent of the $8.4 billion Las Vegas Nevada real estate.

MGM Mirage joint-venture partner Dubai World received permission Tuesday from Michigan gaming regulators to increase its ownership in the casino giant to almost 15 percent.

Continue reading Dubai World Now Owns Half Of MGM Mirage Project CityCenter Las Vegas