June 20 - It has been reported in New York recently that MGM Mirage Inc is in talks with large casino and resort developer, Kerzner International Ltd, with regards to the possible development of a multi-billion dollar casino resort in Las Vegas, Nevada.
Kerzner International Ltd, the multi-billion dollar business launched some years
ago by South African gambling tycoon, Sol Kerzner, would be required to design
and operate the new resort while MGM Mirage would provide the land in the famous
Las Vegas Strip.
If the two companies worked together, it is expected that each would own half of
the project, a massive undertaking that would certainly give many of the current
Las Vegas 'super-casino resorts' a strong run for their money.
Sol Kernzer and his company are no stranger to multi-billion dollar casino
resorts, as proved by his magnificent Atlantis resort on Paradise Island in the
Bahamas as well as the to-be-completed in 2008 Palms development in Dubai.
MGM Mirage shares closed at $86.50 yesterday (Tuesday June 19th) on the New York
Stock Exchange after the news that the two companies were in talks.
