|
|
Article: MGM MIRAGE Announces Non-Cash Charges Relating to its Investment in CityCenter.
- Article from:
- Real Estate Weekly News
- Article date:
- November 6, 2009
CopyrightCOPYRIGHT 2009 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
MGM MIRAGE (NYSE:MGM) announced that it expects to record a pre-tax non-cash impairment charge of approximately $955 million related to its investment in CityCenter; such charge will be reflected in the Company's statement of operations for the third quarter. In addition, CityCenter, the Company's 50/50 joint venture with Infinity World Development Corp, is expected to recognize a $348 million non-cash impairment charge related to its residential real estate under development. MGM MIRAGE will recognize 50% of such impairment charge, adjusted by certain basis differences, as a part of its income (loss) from unconsolidated affiliates for the third quarter of 2009. The net ...
Related newspaper, magazine, and journal articles:
|
|
Article: MGM Mirage eyes the Middle East: company unveils ...
IGWB: International Gaming & Wagering Business;
December 1, 2007 ;
700+ words
... ... executive officer of MGM Mirage. "This magnificent ... renowned expertise of MGM Mirage in design, development ... resorts." Mubadala and MGM Mirage will continue to work together to pursue other real estate and hospitality opportunities ...
|
|