November 26, 2014
LAS VEGAS (AP) - MGM Mirage is facing increased pressure over its massive CityCenter development on the Las Vegas Strip, amid questions about whether it will make a $220 million project payment.
But company spokesman Gordon Absher said Friday the company was continuing to work with its partners and remained enthusiastic about the project.
Shares in the Las Vegas-based casino giant fell 42 cents, or 13.6 percent, to $2.67 in premarket trading Friday.
Reports say the $8.6 billion CityCenter project might seek bankruptcy protection if is unable to make the Friday payment.
CityCenter partner Dubai World sued MGM Mirage earlier this week over the project, which is targeted to open later this year.
The lawsuit claims MGM Mirage financial statements put the project at risk.