Wall Street is abuzz with early morning big money MGM rumors. The news comes hot on the heels of its successful MGM Grand opening in Detroit that Luxe Life covered yesterday and the astounding advance sales and high-speed construction of its massive City Center development at Strip Central here. Investment bankers in New York say that MGM is planning to develop a duplicate of the City Center project – albeit on a smaller scale – in Atlantic City. Plans there apparently call for three 1,000-room hotel towers with condos and retail stores. MGM is said to be spending approx $5 billion – the largest ever construction budget in the New Jersey gaming region – on building expected to start late next year for a 2012 gala opening.

This entry was posted on Thursday, October 4th, 2007 at 11:25 am and is filed under Breaking News. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.