Las Vegas Company MGM Mirage Tightens Budgets

After the all the lavish talk of creating over 12,000 jobs and plans to continue the City Center project earlier this week, MGM Mirage announced that their plans may actually change as a true evaluation of allocation budgets showed that the better financial decision would be to hold off and cut back on the City Center project in order to raise equity and create a more focused approach to what they will do in order to have better earnings in the coming year.

The Large organization has said that it is likely to delay the opening of some of the City Center at least until sometime in 2010, original plans were to have the entire area complete by the end of this year ( 2009) with grand openings scheduled for as early as late September 2009.

The direction that the company is taking will likely impact the anticipated hiring news and scale back quite significantly with regards to any new positions that they create and offer to the market. However, these changes are being made to make the company more successful in the long run. They anticipate that this will save then over $200 million in preliminary costs.

2009 is likely to be a year of change for many casino operators in Las Vegas. But paving the road for the next couple of years is hopefully going to ensure a smooth ride for the years to follow. These companies have now refocused and are looking towards long term goals and even longer termed rewards.

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