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Over the past decade or so, Dubai has placed big bets on its ability to become the world's top tourist destination. Now Dubai is taking its plans to sin city itself, Las Vegas. Dubai World, which is the investment holding firm of the Dubai government, has decided to invest $5 billion in MGM Mirage (NYSE: MGM) for a 9.5% stake.

In addition, Dubai World will also be getting a 50% interest in the yet to be finished CityCenter development project.

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Dubai gambles on Las Vegas (MGM) originally appeared on BloggingStocks on Wed, 22 Aug 2007 09:45:00 EST. Please see our terms for use of feeds.

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