Tight credit markets have forced yet another gambling company to postpone beginning a project in the United States. MGM Mirage is delaying the start of construction on the $5 billion dollar MGM Grand Atlantic City development until next year. Instead the company will be focusing intently on getting the financing completed for their enormous CityCenter project in Las Vegas.
The company still plans to have the project finished in time for the scheduled 2012 opening. Company spokesperson Gordon Absher said that MGM will continue to refine its designs and work on streamlining the construction schedule in order to minimize costs. He said that they have no intentions to downsize the project.
“We’re still enthusiastic and confident about the Atlantic City market. The project has not changed or been downscaled,” confirmed Absher.