Pursuits
MGM, Dubai World Refinancing $1.8 Billion CityCenter Bank Loan
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MGM Resorts International and Dubai World, owners of the CityCenter development on the Las Vegas Strip, are seeking to refinance the property’s $1.8 billion loan to extend maturities.
MGM Resorts, the biggest casino operator on the Strip, would like to own all of CityCenter eventually, Chief Executive Officer Jim Murren said today in an interview. No buyout talks have been held with Dubai World, but the partnership has a five-year agreement that gives MGM the right to purchase the other’s half if it’s sold, Murren said.