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As it gets set to open the largest development project on the Las Vegas Strip, MGM-Mirage has announced that it has removed a bankruptcy warning that threatened the completion of CityCenter.
Financial experts agree that the completion of the City Center Project is cause for excitement in Sin City. Analysts feel that the economic future of Las Vegas, at least in part, will be depending on the success of the multi-billion dollar privately funded construction project.
Even with the threat of bankruptcy, construction on the project has never actually stalled, but after this week’s announcement, there’s even more reason to believe that the project will open on time.
The heavy financial concerns even prompted MGM’s CityCenter partner, Dubai World, to file suit. But with brighter days ahead expected, that suit has since been dropped.
“(This week’s) announcement is a result of the remarkable efforts of a team of men and women who worked tirelessly over the past several months to restructure the company’s finances,” said MGM Public Affairs Director Alan Feldman in a released statement.
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