Las Vegas - In the late 1970s, a baby-faced executive named Terrence Lanni had a tough time persuading banks to lend millions of dollars to build hotels and casinos in this fabled gambling mecca. "It was very difficult to get a loan back then," says Lanni, who was the young chief financial officer of Caesars World at the time. "It's a lot easier now, I can tell you that." Today, the 64-year-old Lanni is CEO of MGM Mirage (MGM), the No. 2 gaming-industry company in the USA, and lenders line up for his business.

Dubai World, which agreed to buy into MGM Mirage last month, is raising a USD 2.7 billion loan while its subsidiary Dubai Ports World is borrowing USD 2.5 billion, bankers familiar with the transaction said this week. Government-owned Dubai World said last month it would invest up to USD 5.2 billion in MGM by buying shares and half a Las Vegas project, making it a player in the biggest gambling destination in the United States.

Las Vegas (AP) -- The union representing thousands of hotel and restaurant workers in Nevada has reached a tentative agreement on a five-year contract with its largest employer, the union and MGM Mirage said. The deal between the Culinary Workers Union Local 226 and MGM Mirage Inc. was reached late Wednesday after a 10-hour bargaining session, Culinary political director Pilar Weiss said. The deal ended a nearly two-month stalemate. The union had approved a strike authorization vote for next month.

New York (Reuters) - Dubai World said on Wednesday it will invest up to USD 5.2 billion in MGM Mirage by buying shares and half of a major Las Vegas project, making the state-owned investment firm a major player in the biggest gambling destination in the United States. MGM shares jumped as much as 10.5 percent and its bonds rallied on the pending USD 3.9 billion cash infusion stemming from the deal, as well as the premium Dubai offered for the shares.

New York (Reuters) - Kirk Kerkorian's Tracinda Corp. on Wednesday backed off plans to restructure MGM Mirage Inc., effectively taking the casino operator off the block for now and causing a 10 percent drop in its share price. Tracinda, which owns 56 percent of MGM, had said in May that it planned to acquire the prized Bellagio and CityCenter properties in Las Vegas and consider a financial restructuring or other outcomes for the remainder of the company.

There's a new name atop In Business Las Vegas' list of the highest-paid executives in Southern Nevada. Terry Lanni, chief executive of MGM Mirage, is No. 1 on the list, which appears in this edition. Lanni has been in the top 10 since 2002 when the list was first published, but this was the first year that he has reached the top spot.

New York (Reuters) - Billionaire investor Kirk Kerkorian's play for MGM Mirage Inc. may be bad news for its debt holders, but how poorly the casino operator's bonds perform will likely depend on what shape the gambit takes. Kerkorian's Tracinda Corp. said on Monday it is exploring options for its 56 percent stake in MGM Mirage and will enter talks to buy MGM's crown jewels, the Bellagio Hotel and Casino and its USD 7.4 billion CityCenter development on the Las Vegas Strip.

Las Vegas (Reuters) - MGM Mirage Inc. said on Tuesday it formed a committee to consider a proposal by Kirk Kerkorian's Tracinda Corp., its majority shareholder, to buy its key Las Vegas properties and explore alternatives for the part of MGM it does not own. Tracinda, which holds 56 percent of the casino company, said on Monday it would consider a financial restructuring or other outcomes for the remainder of MGM Mirage.

Las Vegas (AP) -- Casino giant MGM Mirage Inc. said Friday that it has raised the estimated cost of its CityCenter project on the Las Vegas Strip to USD 7.4 billion because of an increase in the overall size of the development. "In a project of the magnitude and complexity of CityCenter, variances are to be expected," Terry Lanni, company chairman and chief executive, said in a statement explaining the increase from USD 7 billion.

Las Vegas (AP) -- Casino operator MGM Mirage said Thursday that it is buying several land parcels on the Las Vegas Strip for a total of USD 575 million. MGM is purchasing a 26-acre parcel from Gordon Gaming Corp. for about USD 444 million. It agreed to buy several parcels totaling approximately eight acres from Concord Wilshire Acquisitions for about USD 131 million in a separate transaction.

A New Jersey law firm representing Hong Kong businesswoman Pansy Ho has asked three Web hosting companies to take down the Web site of a religious group disseminating negative information about MGM Mirage’s designated business partner in its Macau operations. Gilbert Brooks, an attorney with Wolf, Block, Schorr and Solis-Cohen of Cherry Hill, N.J. sent a letter in late March warning that the Web hosting companies are legally liable for the content of New York-based Family Focus Coalition’s online site.

Las Vegas (AP) -- MGM Grand Paradise, a 50-50 joint venture between casino operator MGM Mirage and businesswoman Pansy Ho Chiu-king, said Tuesday it is in discussions with the government in Macau to develop a second casino resort in the gambling enclave. MGM Grand Paradise said it anticipates submitting plans for the resort on a "prime identified site in Cotai" to the government later this year. MGM Grand Paradise is currently developing the USD 1.1 billion, 600-room MGM Grand Macau, which is expected to open in the fourth quarter.