A giant Las Vergas casino deal was dropped Wednesday, when the Tracinda Corporation, owned by casino mogul Kirk Kerkorian, decided to end discussions regarding taking over the Bellagio hotel and casino and the CityCenter project from MGM Mirage.
The announcement by Tracinda followed MGM Mirage's announcement regarding a joint venture with Kerzner International Holdings Ltd. to develop a multi-billion dollar integrated resort property on the Las Vegas Strip on land owned by MGM Mirage.
Tracinda is MGM Mirage's main shareholder. In May Tracinda offered to buy the Bellagion and the CityCenter, a $7.4 billion casino complex being built on the Strip.
That announcement caused MGM Mirage shares jump 27 percent but Wednesday's announcement brought the shares down 6.8 percent.
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