MGM Resorts International revealed that it is being approached by suitors for the Crystals luxury mall in its Las Vegas CityCenter joint venture complex.
MGM chairman Jim Murren said on a conference call that he has been receiving inquiries from potential buyers over the last 6 months and expects that the sale of the luxury mall could fetch a tremendous amount of money for its owners. He stated that though they are not in talks about the matter, they expect the joint venture complex to reach deal with full potential buyer over the next years since they are really aiming for Crystals' sale.
The mall houses well-known retailers such as Gucci, Harry Winston, Hermes and Jimmy Choo, while the CityCenter is also co-owned by Dubai World Corp.
Reportedly, MGM Reports disclosed that the complex saw 17 percent increase in its fourth-quarter earnings before depreciation, taxes, interest and amortization from a year earlier.
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