Dubai World, MGM may be in talks with Deutsche Bank

24 February 2009

Dubai World and casino operator MGM Mirage are rumoured to be in talks with Deutsche Bank about terms under which the partners would secure the final $1.2bn in financing for their Las Vegas Strip CityCenter project, reported Reuters. MGM Mirage and Dubai World have yet to raise all of the money needed to complete CityCenter, most of which is scheduled to open at the end of this year. Last year Deutsche Bank acquired the under-construction Cosmopolitan Resort & Casino in a foreclosure after developer Ian Bruce Eichner defaulted on a $760m construction loan. The Cosmopolitan is located on the western side of the Strip between the multi-tower CityCenter project and MGM's Bellagio resort.

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