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Dubai World gets initial OK to invest in MGM Mirage
- United Arab Emirates: Thursday, November 06 - 2008 at 15:20
Dubai World has received preliminary approval from regulators in the US state of Nevada to invest more than $6bn in casino giant MGM Mirage, reported AP. The state Gaming Control Board gave its OK on Wednesday for several subsidiaries of Dubai World to proceed to Nevada Gaming Commission consideration later this month. Dubai World controls 9.4% of MGM Mirage's stock and owns 50% of the under-construction $9.1bn CityCenter development on the Las Vegas Strip.
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Jeff Florian, Senior ReporterThursday, November 06 - 2008 at 15:20 UAE local time (GMT+4)
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