Dubai World-MGM Mirage investment gets final OK

Nov 21, 2008 9:37 PM

Staff & Wire Reports |

The Nevada Gaming Commission will allow the investment arm of Dubai to acquire a bigger stake in MGM Mirage Inc.

The plan given final approval Thursday authorizes Dubai World to acquire up to a 20 percent stake in the Las Vegas-based casino company. That's up from its current 9.4 percent stake.

Dubai World, the investment arm of the Persian Gulf state, already has invested about $6 billion in MGM Mirage. Dubai World and MGM Mirage are equal partners in the $9.3 billion CityCenter casino complex under construction on the Las Vegas Strip.

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