Business NEWS
MGM Mirage paid $70 million to ensure that construction continues at its CityCenter development in Las Vegas.
By Amarendra Bhushan for CEOWORLD Magazine Updated:April 17, 2009
Get CEOWORLD Magazine digital monthly version. special- Top Capital Cities for a business Traveler, # Interview with Minister of Tourism of Greece. 1 Issues Subscription= $1 Only, 10 Issues Subscription= $5 Only. Grab your copy now!!!!
MGM Mirage said Friday it provided $70 million to cover current construction costs for its CityCenter complex in Las Vegas. The company received an amendment to its credit facility to free up the money on Monday.
The payment includes $35 million that should have been funded by Dubai World, the government-owned investment company that holds a 50 percent stake in the $8.7 billion venture, Reuters reported.
MGM Mirage Inc. reached an agreement with its lenders on Monday that allowed the casino operator to cover Dubai World’s share of the funding and pushed the deadline for the payment to Friday.
The two partners — Dubai World, the Arab state of Dubai’s development arm, and MGM Mirage — have another payment of more than $200 million due within two weeks.
Like this article! |
|
|
|
|
(No Ratings Yet)
Loading ...17369 views
Comments
Grab a copy of CEOWORLD Magazine for $1 only!!!
