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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

M Resort Las Vegas hotel on the Strip expects to open early in March, 2009.  Local real estate developer, Anthony Marnell III, caters to locals with his version of a place visitors feel at home when they step through the door.  Will he be able to carve out his niche in this heavily competitive casino market?

Because construction has been ahead of schedule at M Resort, millions of dollars in savings will be used in other aspects of the hotel casino.  Hopefully locals will embrace the upgrades including 180 degree views of the valley from the rooftop restaurant and a wine cellar controlled with technology.

Continue reading M Resort Las Vegas Hotel On The Strip Expects To Open Early In March

MGM Grand Tianjin luxury condo hotel in China announced by MGM Mirage.  The first nongaming hotel project in mainland China with jv partner expects to start groundbreaking in several weeks.  The location is projected to cash flow $200 million annually.

Continue reading MGM Grand Tianjin Luxury Condo Hotel In China Announced By 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

M Resort Las Vegas announced plans for 1 million square foot retail mall this week in the mixed use real estate project.

Anthony Marnell III envisioned his $1 billion M Resort and Las Vegas NV hotel similar to the outlying Red Rock Resort in Summerlin and Green Valley Ranch Resort in Henderson, Nevada with one exception, a large shopping component.

Continue reading M Resort Las Vegas Announced Plans For 1 Million Square Foot Retail

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