Dubai World-MGM Mirage Investment Gets Final OK

By: Associated Press Email
By: Associated Press Email

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The Nevada Gaming Commission says it will allow the investment arm of Dubai to acquire a bigger stake in MGM Mirage Inc.

The plan given final approval Thursday authorizes Dubai World to acquire up to a 20 percent stake. That's an increase from the 9.4 percent stake it already holds in the Las Vegas casino company.

Dubai World, the investment arm of the Persian Gulf state, already has invested about $6 billion in MGM Mirage. Dubai World and MGM Mirage are equal partners in the $9.3 billion CityCenter casino complex under construction on the Las Vegas Strip.

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