Executives from MGM Mirage (MGM: 11.75 -1.34%) and co investor in the City Center Development, Dubai World, met with the Nevada Gaming Control Board on Friday to seek approval for a gambling license for the Aria Casino.

The hearing lasted more than two hours and focused on specifics from financing to marketing campaigns. Gaming Control Board Chairman Dennis Neilander said gaming agents raised a red flag on funding provided by Dubai World, but the issue was cleared up by an independent audit.

The Las Vegas based City Center project was funded with $6.1 billion in equity contributions from its partners, $1.8 billion from credit and $1.1 billion in condominium sales. The project cost the gaming giant and its investors $8.5 billion.

Executives explained that although the Aria Casino is the centerpiece for the complex that more than 80% of the suggested revenue would be from a mix of venues outside the gaming floor.

“I hope it is the thing that helps Nevada perhaps get on the smooth recovery track,” control board Chairman Dennis Neilander said in supporting City Center and its Aria Resort & Casino

The Board unanimously passed approval for a preliminary gaming license and will give its recommendations to the Nevada Gaming Commission next week for permanent licensing.

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