Nevada regulators support CityCenter's Aria Resort & Casino license

CityCenter is expected to be one of the saviors for a Las Vegas casino industry that has been ravaged by the economy. MGM Mirage and Dubai World are co-owners of CityCenter, and both have been approved for licensing.

The Nevada Gaming Control Board, which consists of three members, spent time questioning different company executives. When their questions were all answered, the Board deemed MGM and Dubai World worthy of a gaming license. The next step will be for the Nevada Gaming Commission to approve the recommendation.

"Most of what we developed here has little to do with a casino," said MGM Mirage CEO Jim Murren, "The casino is the core, it is the heart of the entire project." Other casinos on the Las Vegas Strip hope that the casino is the core of an entire rejuvenation of their casino industry.

The project almost had to be shelved several times this past year when Dubai World officials became upset with cost overages that they claim were the fault of MGM. The two companies had lawsuits pending against each other, but finally resolved their issues out of court.

After the two companies settled their differences, Dubai World again agreed to pay their half of the construction costs, and the project was again in motion. The Aria is expected to be open in December.