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Keyword: mgmmirage

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  • VEGAS BILLIONAIRE SELLS MGM STAKE TO DUBAI ROYAL FAMILY

    08/25/2007 2:22:10 PM PDT · by Issaquahking · 42 replies · 2,246+ views
    Vegas Luxe Life with Robin Leach ^ | Wednesday, August 22nd, 2007 at 9:13 am | Vegas Luxe Life with Robin Leach
    Billionaire Kirk Kerkorian and MGM’s Board of Directors are expected to announce today (WED) that certain members of the Royal Family of Dubai- a Mid-East oil-rich kingdom - are buying into MGM Mirage and its $7-billion City Center hotel-condo complex. My Wall Street sources are abuzz this morning saying the multi-billion dollar deals signal the next phase of corporate takeovers and foreign investment into the booming Vegas gaming and hospitality business.Kirkorian’s company, Tracinda that owns his share of MGM is reducing his stake from 54.15% to 51.65% in the transaction and Wall Street believes that Dubai World will ultimately buy...