MGM's CityCenter Will Be Completed By The Fall
Where: 3730 Las Vegas Boulevard South
[map],
89109
Las Vegas just let out another collective sigh of relief at the news that Dubai World and MGM Mirage have officially mended their differences and agreed to terms that will allow CityCenter to be finished as planned.
Last week, we heard that MGM Mirage was scraping together payments on its partner Dubai World’s behalf, because the latter had called foul on the project’s timeline and cost via a decidedly un-partnerlike lawsuit. It was, needless to say, a little touch and go there for a while.
Today’s announcement, reported by the LVRJ, includes both a revised partnership between the two developers and a new agreement with lenders. Dubai World also agreed to pay back the $135 million MGM Mirage paid on its behalf.
So, it seems that everything’s coming up roses again for the largest privately funded project ever to be built in the history of mankind – or at least in North America. And that’s a very good thing for Vegas visitors who are always looking for a new reason to justify their trek to Sin City.
Come the fall, CityCenter’s multiple, glassed-in megaplexes with their new wave of dining, retail, spa and other haute amenities will beckon visitors and, we presume, finally reveal the next chapter in Vegas' reinvention.
Two hotels have already begun taking reservations and we hear that those opening rates could come down further as a way to entice more visitors to try these places out. For our part, we can’t wait. Brand new hotel rooms on the Strip that haven't been corrupted by thousands of Vegas partiers? We're in.
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