Dubai World, joint venture partner with MGM Mirage (MGM.N) in the $9 billion Las Vegas CityCenter, will withhold payments toward the project until a comprehensive finance package is obtained, a source with knowledge of the matter told Reuters on Monday.
But the partners are now in negotiations to try to secure a longer-term financing solution for the project, said the source, who was not authorized to speak publicly about negotiations.
MGM said on Monday that it had secured a waiver from lenders so that it can pay about $70 million due to CityCenter contractors by Friday. [ID:nN13393798]
No comments:
Post a Comment