TITLE

Dubai investment arm gets OK to boost stake in MGM Mirage

AUTHOR(S)
Stutz, Howard
PUB. DATE
December 2008
SOURCE
Las Vegas Business Press (10712186);12/1/2008, Vol. 25 Issue 48, pP14
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports that the Nevada Gaming Commission has allowed Dubai World to acquire a maximum of 20% stake in MGM Mirage. Director at Dubai World Li Boon Yu said they are seeking al regulatory approvals before adding investments on MGM in a long-term view. Dubai World already owns 9.4 percent of MGM shares in a $6 billion deal last 2007. Yu is hoping that market conditions will rebound in 2009 as the MGM stock prices slipped below $80, the price they paid per share.
ACCESSION #
35620255

 

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