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Dubai Betting $5B on Vegas Casino Giant
Dubai World—a company owned by the government of the oil-rich Persian Gulf state—plans to invest up to $5.1 billion in MGM Mirage, the world's second-largest casino company, Bloomberg reports. The move...
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Comeback for Siegfried & Roy?
Four years after a horrific mauling by a 600-pound white tiger at the Mirage hotel almost killed Las Vegas showman Roy Horn, he and partner Siegfried Fischbacher appear to be planning a comeback,...
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US Casinos Dotting Macau Can't Cash In
Casinos on the Chinese island of Macau create more gambling revenue than the ones in Las Vegas and Atlantic City combined, but US operators—permitted to set up shop there since 2004—are decidedly not...
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MGM Delays New Casinos for Vegas, Atlantic City
MGM Mirage will suspend work on new casinos in Las Vegas and Atlantic City due to the dismal credit climate, the Wall Street Journal reports. The firm reported a 67% drop in third-quarter net income as...
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MGM Mirage Chief Quits Amid Fake MBA Flap
The CEO of MGM Mirage has announced his resignation, but denied it had anything to do with lying about having an MBA, reports the Wall Street Journal . J. Terence Lanni, one of the most powerful...
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What Downturn? Vegas Gets New $2.3B Resort
Recession has dimmed the glittering lights of Las Vegas, but it hasn’t stopped hotel and casino mogul Steve Wynn, AFP reports. Wynn is preparing to open the lavish $2.3 billion resort Encore on Monday...
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Giant Vegas Project May File for Bankruptcy
City Center, the sprawling $8.6 billion Las Vegas development and the largest private construction project in history, will likely fail to make a $220 million debt payment today and may file for...
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Cash-Poor MGM Mirage May Sell Casinos
MGM Mirage, the gambling conglomerate, is considering the sale of casino properties in Michigan and Mississippi to pay down debt and save an underfunded Las Vegas development, the Wall Street Journal...
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MGM Mirage Doubles Down on Global Market
With the hospitality business gasping for air and its own core business in trouble, MGM Mirage is going global in hopes of building its brand well beyond Las Vegas. Having sealed eight deals with hotel...
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