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Friday, August 8, 2008
MGM MIrage's planned $4.5 billion Atlantic City projected has been postponed by a year due to the current credit crunch.

The lousy economy has claimed--at least temporarily--another Atlantic City construction-project victim.

In a move that has caused surprisingly little comment or consternation, Las Vegas-based MGM Mirage has put off the scheduled winter, 2009 groundbreaking for its $4.5 billion Atlantic City mega-resort.

MGM Mirage is so tight-lipped about this development that the business world learned of it not from the company itself, but from a second-quarter earnings conference call for financial analysts conducted by Perini Construction, the firm whose shovels are now scheduled to hit the dirt in the winter of 2010, which means the luxe casino-hotel complex probably won't open its doors before the end of 2012 or early 2013.

When (if?) it is built, the facility--which will be AyCee's largest--will encompass more than 70 acres next to Borgata. The blueprints call for 5,000 slot machines, 200 table games a major large poker room, 1,500-seat theater, restaurants, nightclubs, a spa, a half-million square feet of retail space and a convention center.

 

 

Posted by Chuck Darrow @ 12:32 PM  Permalink | Post a comment
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About Chuck Darrow
Philly native Chuck Darrow has literally covered Atlantic City’s casino scene since Day One: He was there on assignment the night in November 1976 when voters approved legalized casinos.

Since then, Chuck has covered the town and its gaming industry for several area newspapers -- which is why, in some circles, he’s known as “Boardwalk Charlie.”

You can reach Chuck at darrowc@phillynews.com.

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