MGM Mirage, the casino operator controlled by billionaire Kirk Kekorian, was sued by a unit of Dubai World, the state-owned investment group, claiming it defaulted on a Las Vegas joint venture.
Dubai’s Infinity World unit accused MGM of breaching its obligations under an agreement to jointly design, construct and operate a development on the Las Vegas strip called CityCenter. The lawsuit was filed yesterday in Delaware Chancery Court.
MGM’s admissions in its filing with the Securities and Exchange Commission on March 17 “constitute a breach of the CityCenter joint-venture agreement and puts the CityCenter development project at risk,” Dubai World said in an e-mailed statement today.
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