MGM Mirage Barters w/Dubai on New $1.2 Billion Vegas Casino

[zengrifter]

Kerzner and Dubai - Jews and Arabs, partners in Vegas projects. zg

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MGM Mirage Barters For 50% Stake In
New $1.2 Billion Las Vegas Casino

Barter News - September 12th, 2007 · by Bob Meyer

The MGM Mirage is trading 40 acres of a 78-acre parcel of land that it owns (valued at $20 million an acre) for a 50% stake in a new Las Vegas casino that will be developed by Kerzner International Holdings and Dubai World, a holding company for the Persian Gulf state of Dubai. The latter two organizations will each own a 25% share in the casino, which will be located in the north end of the Las Vegas strip not far from CircusCircus.

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Dubai in new mega Las Vegas resort
venture with MGM and Kerzner

12 September 2007--UAE--Istithmar Hotels, a unit of Istithmar, the Dubai owned investment firm, has entered into an agreement with MGM Mirage and Kerzner International Holdings to develop a multi-billion dollar integrated resort property on the Las Vegas Strip.

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Istithmar will take up a 25% stake in the Mega project, MGM will own 50% and Kerzner 25%.

This will mark Dubai's latest foray into Las Vegas. Last month, Dubai World said it planned to invest up to US$5.2 billion in MGM Mirage by buying a 9.5% stake and half of the company's CityCenter development in Las Vegas.

...more - http://www.bi-me.com/main.php?id=13037&t=1&c=34&cg=4