"Dubai buys big into US casino firm"

[demoleft]

Dubai buys big into US casino firm

Ocean's Eleven movie introduced many non-american people to the main gambling sites of Vegas, the "American playground".
In the movie, the "Mirage" was one of three Terry Benedict's casinos.

Now Clooney and Co. should face Arabs' reactions if they were up to knock over the casino again.
And Terry should probably bow to some foreign Dubai investor.

"Dubai World, the Gulf state's investment firm, is to take a 10 per cent stake in MGM Mirage, the world's second-largest casino operator, to become a major player in America's biggest gambling destination.

The firm will pay more than $5bn for MGM stock and half of a massive entertainment complex being built in Las Vegas.

Dubai's state investment arm made headlines last year when its subsidiary, Dubai Ports World, was forced to sell its American port operations after an uproar in the US congress over security concerns." (Al Jazeera)

I won't enter in details of the financial operations behind the curtain. Just hint at the power of Dubai World.

"The firm will also invest about $2.7bn to acquire a 50 per cent stake in MGM's CityCentre project, a $7.4bn, 76-acre Las Vegas development of hotels, condominiums and retail outlets due to open in 2009."

And more, as Al Jazeera reports: http://english.aljazeera.net/NR/exeres/C00320E9-8D95-4E38-BE15-33D3D539F789.htm

Waiting for Chinese investors, sooner or later.
What does that mean for American capitalism?

[SoCalDem]

1. They just can't spend that oil money fast enough, now can they?

That's what frosts me.. Oil companies and oil countries are raking in the dough, at our expense, and there are no lines..no rationing.. Just raw greed..

[sandnsea]

2. For what, 500 wealthy men?

And our people pretend there's something "we" are going to gain out of the ME oil when it's obvious to anybody that all the money is concentrated OUTSIDE of this country these days. Carly Fiona point blank said we don't have a right to a job. Nobody wanted to hear it, but that's how they think. They're not bound by our borders, I don't know why we're letting them continue to pretend we need to have these border protections and protections from media "propaganda" - but they're free to do business with communists and hire people from any country in the world and travel wherever they want to get their news first hand.

Do you remember that Donahue/Pozner program where they talked to young Soviets? I remember being shocked at how many of the young people thought it was good for a country to have media censorship on government matters, that the people didn't need to know everything. I would never have thought there would be people in this country spouting that nonsense. But here we are.

They can do what they do because most people in this country either don't know, or are lied into believing it's good for them.

[Skidmore]

3. So much for Islamic family values.

[soothsayer]

4. Dubai's cool. Like one giant rich disneyland for billionaires.

[JCMach1]

5. You obviously don't know Dubai...

The national religion here is the $$$

[Thothmes]

6. family values

you should see the long lines of Mercedes Benzs,' crossing from Saudia Arabia to Baharan at the start of the islamic weekend. Bumper to Bumper across the 20 mile causeway for a cold beer, ham sanwich and a Gulf Air Stewardess to go. This traffic pattern reverses at the end the the weekend.