Value Of CityCenter Plummets

 LAS VEGAS, NV–The value of the CityCenter mega project here, which cost $8.7 billion to build, has fallen from $5 billion a year ago to $2.4 billion today.

The development, which is owned by by MGM Resorts and Dubai World, is at risk of defaulting on its $1.8 billion loan within seven months.

News of CityCenters financial distress was first reported in The Wall Street Journal.