Casino News

CityCenter 'will open on schedule this year'

2009-05-27 16:12:01

The CityCenter development in Las Vegas is still on course to be opened by the end of this year, it has been claimed.

One of the biggest privately financed projects in the country, the $8.5 billion development will feature 5,900 hotel rooms and 2,392 apartments.

If all goes to plan, the CityCenter development should be open on December 16th 2009.

The MGM Mirage complex suffered a setback in September last year when billions of dollars of funding from a consortium led by the Bank of America failed to come through.

Despite securing a $1.8 billion loan, MGM Mirage was forced to finance a significant part of the project itself.

While MGM Mirage might soon be filing for bankruptcy, the project will nonetheless continue, in part due to an arrangement made with fellow investor Infinity World Development.

Michael Mixer, a senior vice president with Colliers International Las Vegas, said: "This project is the shining star of Las Vegas."