MGM Aria Resort Will Open As Scheduled
Following the recommendations from the Nevada Gaming Control Board last week, The Gaming Commission unanimously voted to grant MGM Mirage (MGM: 10.73 0.00%) and co investor Dubai World with a gaming license for the City Centers Aria Resort.
Before the vote was past, the Commission reviewed background information and transcripts from last weeks hearing, as well as listening to a 40 minute presentation from executives for the casino company. The presentation detailed the projects attributes and the steps taken to relieve financials issues over the past year.
The meeting also focused on the impact that the 67 acre City Center development would have on Las Vegas. Chairman and CEO, Jim Murren, restated his position that the development would grow the market not just for MGM but for all venues on the strip.
Murren also reassured the commission that company officials would evaluate plans for the Harmon Hotel next year. Construction issues prevented the completion of the planned 47 story hotel and condominium within the City Center district. The structure has been estimated to cost an additional $170 million to complete.
The Aria Resort will open its 4,004 room hotel, 150,000 square feet casino and entertainment venue as planned on December 16.
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