MGM may default on debt
MGM Mirage, the gambling company of billionaire investor Kirk Kerkorian, said on Tuesday that it may default on its debt amid development of its biggest casino project ever, the US$8.6 billion CityCenter in Las Vegas.
Midway Games has admitted it could default on its debts, as Sumner Redstone's move to sell majority stake triggers potential repayments amounting to USD 240 million.