MGM Mirage gets $2.3bn from Chinese bank
Las Vegas, August 31, 2008
MGM Mirage has received $2.3 billion funding for its huge CityCentre project on the Las Vegas Strip, a report said.
The China Construction Bank has committed $300 million to the entertainment major. Earlier, three banks had committed $150 million and a fifth, $100 million, MGM's chief Jim Murren was quoted as saying in the Reuters report.
The company had earlier secured $1.65 billion from a number of banks and was expecting to close the total funding of $3 billion by September-end.
'I am more certain than ever that this is the direction we need to go in,' he said of the $9.1 billion CityCentre development of hotels, condominiums and retail outlets.