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December 4, 2009

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Gaming :

Dubai World deal with MGM Mirage OK’d

By Richard N. Velotta (contact)

Wednesday, Nov. 5, 2008 | 11:35 a.m.

The state Gaming Control Board today recommended approval of MGM Mirage's association with Dubai World, a government-owned megacorporation based in the United Arab Emirates.

In a unanimous vote, the three-member board recommended the licensing of Dubai World and several subsidiaries as well as the suitability of four key officers that manage the company.

The recommendation will go to the Nevada Gaming Commission, which is expected to consider final approval Nov. 20.

Dubai World and MGM Mirage have a partnership to develop resorts globally with Las Vegas' CityCenter the first association.

Dubai World has associations with Donald Trump and with Atlantis resort developer Sol Kerzner on other projects, and the company also has interests in transportation, shipping and resort development.

In addition to its 50 percent share of CityCenter, Dubai World owns a 10 percent stake in MGM Mirage.

Discussion: 1 comment so far…

  1. By JoeF
    11/6/08 at 6:59 a.m.
    Suggest removal

    Time to stop gambling since that money would go oversees as well.

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