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Dubai World Possible Joint Venture Business Partner With MGM Mirage

Posted By Las Vegas Real Estate Agent Bill On November 6, 2008 @ 11:51 pm In Las Vegas News, Las Vegas Casinos | Comments Disabled

Project CityCenter Las VegasDubai World is possible joint venture partner with MGM Mirage after the Nevada Gaming Commission rules on their business relationship later this month.  Dubai World is the investment division of the Persian Gulf state.

This isn’t the first time Dubai World has been financially involved with MGM Mirage.  Last year, they paid $5.1 billion to control 50 percent ownership of Project CityCenter Las Vegas and 9.4 percent of MGM Mirage.  Last year the international company had revenues of nearly $11 billion and is worth over $100 billion.

There have been meetings with the federal regulators and the conclusion is favorable for the big investment into the gaming operator.  Dubai World is governed by the emirate’s regulations and laws.  A full scale licensing investigation is unlikely gaming regulators.

Dubai World discussed at their hearing their business partnerships, many investments and developments.  Current business partners include Donald Trump and his high rise hotel condo in Emirate and Kerzner Holdings International building a similar Atlantis hotel in Dubai.

The long term agreement is expected to allow Dubai World to purchase near 20 percent outstanding share of MGM Mirage.

Call 702-505-6988 for VIP real estate representation by a real estate agent.

Dubai World is possible joint venture business partner with MGM Mirage.


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