This book takes architects and designers on a worldwide journey to discover the most stylish and appealing spots, from an urban getaway in Europe to a resort on a South Pacific island, providing a serene ...
| Tweet |
The survival of the massive CityCenter development in Las Vegas has been called into question, now that the investment arm of the Dubai government has sued MGM Mirage over concerns about the project's viability. According to a lawsuit filed earlier this week in Delaware Chancery Court, Dubai World, a 50-50 joint venture partner in the $9 billion CityCenter, is asking for unspecified damages and wants to be relieved of its obligations under the companies' agreement that was struck in August 2007.
MGM Mirage, for its part, said lawsuit is "completely without merit" and that the casino operator plans to complete the Strip development, whose first phase is slated to open later this year. "Dubai World is well aware of our written commitment to meet our funding obligations and that MGM Mirage has available cash to satisfy those obligations," senior vice president of public affairs Alan Feldman said in a statement. "MGM Mirage is ready, willing and able to fund its share of the costs to complete CityCenter, including a required payment this week."
Did you enjoy this article? Click here to subscribe to the magazine.
