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Late last Friday, casino giant MGM Mirage (NYSE: MGM) announced that it would provide $200 million to keep its $8.7 billion CityCenter project running.
This move should help resolve a "likely bankruptcy filing." Of the $200 million, $100 million should be provided by Dubai World, which is MGM's partner in the CityCenter joint venture. MGM stated that the funding is "with the authorization of its senior lenders" and satisfies the necessary sponsor equity contributions.
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