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Old 03-23-2009, 09:51 PM
 
289 posts, read 925,305 times
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Mar. 23, 2009

CityCenter future in doubt after Dubai partner sues MGM Mirage

The survival of the $9.1 billion CityCenter development was called into question Monday when the investment arm of the Persian Gulf state of Dubai sued MGM Mirage over concerns about the projectís viability.

According to the lawsuit filed in Delaware Chancery Court, Dubai World, a 50-50 joint venture partner in CityCenter, is asking for unspecified damages and wants to be relieved of its obligations under the companiesí agreement that was struck in August 2007.


continues:
CityCenter future in doubt after Dubai partner sues MGM Mirage - News - ReviewJournal.com
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Old 03-24-2009, 07:45 PM
 
Location: Las Vegas, NV
2,721 posts, read 7,473,903 times
Reputation: 1063
There are so many projects halted in Dubai that they are probably broke. Funny how a place like that with all its riches can fall so quick.
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Old 03-24-2009, 07:51 PM
 
Location: Las Vegas
44 posts, read 168,020 times
Reputation: 45
Default Las Vegas rejected freedom

Las Vegas rejected freedom and libertarianism, so they deserve to die in poverty. Maybe your corrupt politicians will save you.
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Old 03-24-2009, 08:39 PM
 
Location: Beautiful Upstate NY!
13,819 posts, read 24,548,281 times
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I said it right from the beginning (you can verify it with search)...CityCenter is destined to be a Las Vegas boondoggle of major proportions. MGM's failure to deliver on this project will keep LV lawyers rich, fat and happy for a very long time.

Bugsy Siegel had huge cost overruns, too.

Last edited by jfkIII; 03-24-2009 at 08:50 PM..
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Old 03-24-2009, 08:53 PM
 
Location: Houston, Texas
10,425 posts, read 43,516,050 times
Reputation: 10328
Quote:
Originally Posted by jfkIII View Post
I said it right from the beginning (you can verify it with search)...CityCenter is destined to be a Las Vegas boondoggle of major proportions. MGM's failure to deliver on this project will keep LV lawyers rich, fat and happy for a very long time.
I too said from the beginning it would fail (also verifiable with a search) I also said it was going to create more of a burdon on the local economy with all the $8/hr jobs it was going to create if it succeeded. Kinda like what Walmart does to a local economy.

In fact as a joke I saved quite a few posts from those bragging about the 10,000 jobs it was going to create. I also saved a lot of posts by those saying Vegas would never see a recession. Now it's depression time. I will post those links to those wonderful posts when the time is right.

The moral of the story is never say never rather then to put anyone down. We all have a lot more pain to go before anything changes............if it ever changes.
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