After five years of construction, The Aria, CityCenter’s centerpeice is finally open.
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Posts tagged as:
MGM Mirage
Even though Air India’s chairman says that the carrier will be ready to join the Star Alliance between June and October 2010, an alliance executive says that there are still questions as to the carrier’s readiness.
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MGM Mirage’s CityCenter is set to open in December and rates are being slashed up and down the Strip.
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US Airways is still struggling to merge seniority list of pilots. Theory of outsourcing is being tested by the Boeing 787 problems. Big casino may turn around Vegas economy.
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Back in March we reported that Dubai World sued its partner, MGM Mirage, claiming breach of contract. Now the two have settled their differences and construction can continue.
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Although MGM Mirage was able to make a payment to continue construction of the CityCenter, they needed to raise more capital. The Wall Street Journal is reporting that the company is considering selling the MGM Grand Detroit in Michigan and the Biloxi Beau Rivage in Mississippi, and that the properties could fetch up to $2 billion combined.
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Earlier this month we reported that MGM Mirage may have to delay opening the CityCenter because it couldn’t secure additional financing. Now comes word that the company was able to make a $200 million payment, which enables construction of the CityCenter to continue.
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With casinos seeing a drop in business, MGM Mirage may be forced to file for Chapter 11 bankrutpcy protection. The company has already tapped the remaining money from their $4.5 billion credit line and investors are anxious about the company’s future.
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In one of its most ambitious projects, the MGM Mirage company is set to open the CityCenter in late 2009. It promises to be one of the greenest, most high-tech properties in Las Vegas — if not the country.
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More than 400 middle management employees got a pink slip Monday from MGM Mirage Inc., the largest casino operator on the Las Vegas Strip.
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