MGM's CityCenter gets 1st stage of financing (AP)

Monday October 6, 1:02 pm ET MGM Mirage's CityCenter casino project completes 1st stage of financing LAS VEGAS (AP) -- MGM Mirage said Monday that it completed the first stage of its $3 billion financing package for CityCenter, a $9.2 billion Las Vegas Strip casino project being developed with Dubai World. MGM said it had secured a $1.8 billion senior bank credit facility that will mature in April 2013. CityCenter has received addition commitment letters of more than $500 million, which executives said will be added to the facility once completed. CityCenter -- which MGM Mirage officials have called the most expensive private commercial development in U.S. history -- is expected to include six high-rise towers with a 4,000-room hotel-casino, condominiums, boutique hotels and a retail, dining and entertainment complex. Dubai... [read full story]