Dubai World Goes to Vegas with $5B

The Washington Times with AP ^ | August 22, 2007 | Ryan Nakashima

[yorkie]

A holding company for the Persian Gulf state of Dubai has laid down a big marker on the Las Vegas Strip _ a $5 billion investment that gives it a chunk of MGM Mirage and 50 percent of a massive entertainment complex the casino operator is building.

Dubai World will pay $2.7 billion for half of the 76-acre CityCenter complex under construction in the heart of the Strip, and buy up to $2.4 billion in MGM Mirage Inc. stock, the company said Wednesday.

[yorkie]

Increment by increment...........

[mnehring]

I remember in the 80s when everyone was scared Japan would buy up the US, then in the 90s, everyone worried Korea and German would.. now I see it is DPI.. lol.. I wonder how many people know that only 3 of the 12 board members of DPI (last time I checked) where from Dubai, the rest were from the EU, US, and India.

[Proud_USA_Republican]

Religion of peace hypocrisy. I thought Sharia law bans muslims from investing in or operating any business involved in gambling.

[struggle]

So I guess gambling is legal in the Muslim world now.

[MinorityRepublican]

Japan was in her prime in the ‘80s. Now everyone is old and they have no children. Plus they do not have any immigration so they will continue to decline economically.

[mnehring]

DPI World is partially owned by the Royal family in the UAE, they are far from Sharia law following Muslims, they are, what we would describe as very liberal.. they have invested in a lot of other ‘vice’ businesses including a Indian Beer company and gambling resorts in Asia. They basically run Dubai World International like any other holding company, they are about the $$$.

Not to many people realize that DPI World is not solely owned by the UAE. Just under half the company is owned by European banks (similar to how Goldman Sacks is a holding company for other companies) and they have Americans, Europeans, and an Indian on their operational Board.

[Kirkwood]

So MGM is going alcohol free?

[Ramius]

Why would they? Dubai is hardly a hotbed of sharia. Barely even muslim.

Dubai is what we should hope more of the middle east becomes. They’re not the enemy.

[Ben Hecks]

So MGM is going alcohol free?

No, but all the slot machines will face East.

[anymouse]

So I guess gambling is legal in the Muslim world now.

Only on camel races. /sarc

[citizencon]

This is the height of hypocrisy. Vegas offers the very things Islam forbids: gambling, alcohol, sex outside of marriage...

[yorkie]

This link provides the members of the Board of Directors of Dubai World: (with pictures)

http://www.dubaiworld.ae/en/About%20Us/Board%20of%20Directors/Index.html

[Proud_USA_Republican]

I’m not calling Dubai the enemy.

The horse track in Dubai doesn’t allow gambling. No casinos either. The leader of Dubai, goes by the knickname of “Sheik Mo” becaue his full name takes a minute to say, has flat out said he won’t allow gambling because it violates Sharia law. Alcohol is confined to the bars and hotels the “infidels” stay at.

[mnehring]

DPI Management:
http://portal.pohub.com/portal/page?_pageid=761,248337&_dad=pogprtl&_schema=POGPRTL

[Orange1998]

I guess they could not buy the ports so they buy Vegas.

[Kirkwood]

You’ve never actually been to Dubai, have you? At least not outside the “western” part.

[Ramius]

Nope.

[expatguy]

Have you been to Dubai?

An American Expat in Southeast Asia