<P> MGM executives were confident that antitrust regulators would not require the sale of any of the two companies' properties . Michigan law, however, forbade one company from owning multiple casinos, requiring the sale of either the MGM Grand Detroit or Mandalay's 54 percent stake in the MotorCity Casino . After some vacillation about which property to sell, Mandalay accepted a $525 - million offer for its interest in MotorCity from Marian Ilitch, the casino's second largest shareholder . Meanwhile, in Illinois, where MGM needed regulatory approval to take over Mandalay's 50 percent interest in the Grand Victoria Casino, a lack of quorum on the state Gaming Board threatened to delay the merger . MGM considered a sale to the casino's other owner, the Pritzker family, but ultimately gained approval for a plan to place the property under control of a trustee until completion of the licensing process . The FTC approved the merger as predicted, and MGM obtained a $7 billion line of credit to finance it . The sale closed on April 25, 2005 for a total of $7.9 billion, including $3 billion in assumed debt . </P> <P> The Mandalay acquisition made MGM Mirage the largest gaming company in the world, but it was surpassed just two months later when Harrah's Entertainment acquired Caesars Entertainment in a deal that had been spurred on by news of the MGM - Mandalay merger . </P> <P> Despite MGM's initial failure to win a gaming concession in Macau, the company had remained interested in the burgeoning gaming market . Rumors of a possible partnership with Stanley Ho were reported in 2003, but Nevada gaming regulators informally vetoed the idea because of the alleged involvement of organized crime triads in his casinos . Another possibility emerged when the government allowed the three gaming concessionaires to each sell a sub-concession . In June 2004, MGM formed a joint venture with Pansy Ho, Stanley's daughter, to develop a casino - hotel under a sub-concession from Stanley . Despite initial concerns about whether Pansy Ho was subject to her father's influence, the Nevada Gaming Commission eventually approved the partnership . Construction of the MGM Grand Macau began in June 2005 . The property opened in December 2007, completed at a cost of $1.25 billion . </P> <P> In 2004, MGM solidified its plans for the Boardwalk site on the Strip, announcing Project CityCenter, an $8 - billion high - density project including hotels, condominiums, a casino, and a shopping mall . The Boardwalk was closed in January 2006 to make way for the redevelopment, and CityCenter construction began the following June . </P>

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