February 24, 2009

Casino operator MGM Mirage (MGM.N) and partner Dubai World could be discussing with Deutsche Bank AG (DBKGn.DE) terms under which the partners would secure the final $1.2 billion in financing for their Las Vegas Strip CityCenter project, according to industry sources.Deutsche Bank acquired the under-construction Cosmopolitan Resort & Casino in a foreclosure last year after developer Ian Bruce Eichner defaulted on a $760 million construction loan.

The Cosmopolitan is located on the western side of the Strip between the multi-tower CityCenter project and MGM's Bellagio resort.Hit by the credit crunch and a downturn in gambling, MGM Mirage and Dubai World have yet to raise all of the money needed to complete CityCenter, most of which is scheduled to open at the end of this year.