CityCenter's equity value falls to $2.65 billion

08/4/2010 | Las Vegas Review-Journal

The equity value of CityCenter stands at $2.65 billion, according to Dan D'Arrigo, chief financial officer for MGM Resorts International. That's down from $2.88 billion in October. CityCenter, a joint venture between MGM and Dubai World, cost $8.5 billion to build. But equity value does not include the value of the buildings. "The quarter was CityCenter's second full quarter of operations and trends are definitely headed in the wrong direction," Hudson Securities gaming analyst Robert LaFleur said.

View Full Article in:

Las Vegas Review-Journal

Published in Brief: