MGM Mirage Making $200 Million CityCenter Debt Payment

Market Watch -- MGM Mirage said Friday it is making a $200 million debt payment that allows continued construction of the $8.6 billion CityCenter development in Las Vegas. The company said the payment includes $100 million that should have come from MGM’s CityCenter partner Dubai World, which sued MGM on Monday claiming a breach of contract. MGM said it is still in talks with Dubai World and lenders to find a long-term financing solution for the development. Shares of MGM initially jumped about 10% then soon traded down 5.5% to $2.92 in recent activity. End of Story