Billionaire Calls for MGM Mirage Bankruptcy

LAS VEGAS (AP) - The Wall Street Journal is reporting that billionaire Carl Icahn and an investment fund think MGM Mirage should file for bankruptcy.

They want the casino operator to restructure its more $13 billion in debt as soon as possible.

A story on the newspaper's Web site Thursday citing unnamed sources says Icahn and Oaktree Capital Management hold hundreds of millions of dollars in MGM Mirage bonds.

MGM Mirage netted $687 million in November by issuing $750 million in notes due in 2013.

The company did not immediately respond to a request for comment Thursday afternoon.

MGM Mirage is pursuing the $8.7 billion CityCenter development in Las Vegas, in which its equal partner is Dubai World, the Arab emirate's state-owned development company.


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