UPDATE: MGM Plans Over $1 Billion In Write-downs On CityCenter Project – NASDAQ
MGM Mirage (MGM) announced plans to take a $955 million write-down in the third quarter on its CityCenter project in Las Vegas. Tracinda Corp., Kirk Kerkorian’s investment vehicle, meanwhile, said it “is exploring the possibility of strategic …
Las Vegas crapping out, MGM in dire straits
The glitter of the Strip in Las Vegas is shining a little dimmer today, as the recession has raked a big stack of chips off the gaming table and left some key players struggling to pay up. Kirk Kerkorian’s MGM Mirage (MGM) in particular …