Calling a $200 Million Bluff
CityCenter in Las Vegas has now opened, and appears to be enough of a success to save MGM Mirage, the second largest casino company in the world (Harrah's is first), from bankruptcy.
But, it almost didn't happen, due to the treachery of its partner.
Only the brilliant poker playing of Kirk Kerkorian, who controls MGM, saved the day.
Kerkorian spent a lot of time gambling in Las Vegas during the 1940s, but I don't know if he ever plays poker with cards today. Yet, when it comes to trading multi-hundred million dollar casino properties, Kerkorian usually comes out a winner.