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Dubai World Files Suit against MGM

Dubai World’s Infinity World subsidiary on Monday filed suit against MGM Mirage because it is concerned that funding commitments for the $8.6 billion project will not be met. The 67 acre city center project is currently being built on the Las Vegas strip. MGM recently filed SEC returns indicating it may not be able to meet its debt repayment obligations. MGM has over $13 billion in outstanding debt obligations. MGM spokesman Alan Feldman replied in an email staying saying the lawsuit is totally without merit, and “MGM is ready, willing, and able to fund its share of the costs to complete CityCenter”.

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