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MGM may sell parts of CityCenter project
Las Vegas -- MGM Resorts International CEO Jim Murren said Wednesday that the company is considering selling parts of its $8.5 billion CityCenter project on the Las Vegas Strip, including the Crystals Mall.
The sell-off would be a move to reduce CityCenter’s $1.85 billion in debt, which has been paid down from $2.5 billion last year.
CityCenter also houses the 4,000 Arai hotel casino which, said Mullen, is not part of any potential sale.
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Michael Kors to sell 3 million shares
New York -- As shares of his company reached an all-time high, fashion designer and retailer Michael Kors will sell 3 million of his shares as part of a secondary offering of 25 million shares, according to a Tuesday regulatory filing.
Kors' ownership in Michael Kors Holdings Inc. will fall to about 4.8 million shares, or 2.4%, down from 3.9% after the sale.