Emirates Mega Projects | Dubai Buying Big Into Las Vegas Mega Projects...and Beyond!

Dubai Buying Big Into Las Vegas Mega Projects...and Beyond!

11 January, 2008

Dubai is going way beyond it's own borders with Mega Project investment. In fact Dubai is buying up Las Vegas! Dubai World recently purchased 50% of the MGM Mirage City Center Mega Project in Las Vegas. I can see why. City Center looks like something right out of the Dubai Mega Project portfolio. It is HUGE. It is SPECTACULAR. In short, it is DUBAI! Dubai World paid $2.96Billion for it's 50% share of City Center.

What is even more interesting is that Dubai World has also purchased 6.5% of the ENTIRE MGM Mirage Corporation. This means Dubai World now owns 6.5% of the following casinos:

- Mirage

- Luxor

- Excalibur

- MGM Grand

- Treasure Island

- Mandaly Bay

- Bellagio

- New York, New York

- Monte Carlo

- Circus Circus

- Railroad Pass

- Silver Legacy Reno

- Circus Circus Reno

- Goldstrike, Jean, Nevada

- Borgata, Atlantic City

- Beau Rivage, Biloxi, Mississippi

- Goldstrike, Tunica, Mississippi

- MGM Grand, Detroit, Michigan

- Grand Victoria, Elgin, Illinois

WOW!! And this is not all. Dubai World also owns 30% of Kerzner International which owns:

- Atlantis Paradise Island, Bahamas. A gigantic Mega Resort Casino. An exact copy of this resort is being built on Palm Jumeirah, but without the gambling.

- Mohegan Sun Casino, Uncasville, Connecticut, one of the largest casinos in the world. Technically this casino is owned by the Native Americans of Connecticut, but Kerzner developed it and still gets a share of the huge profits this Mega Casino makes.

Looks like some great MEGA investments to me. I know Islam is against gambling, but there are no casino operations in Dubai. The Dubai World casino investments are all in the USA and Bahamas.

Here are some links of interest.

The MGM Mirage City Center link:

http://www.citycenter.com/default.aspx?CMP=KNC-Google-City_Corp

MGM Mirage:

http://www.mgmmirage.com/

Atlantis Resort Casino:

http://www.atlantis.com/

For more information on the UAE Mega Projects go to:

http://uaemegaprojects.blogspot.com

Posted by uaepro 21:15 | General | Comment(1) | Permalink