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Colony Capital breaks off MGM Mirage talks -WSJ

Thu Apr 9, 2009 9:23pm EDT

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NEW YORK, April 9 (Reuters) - Colony Capital LLC has broken off talks with MGM Mirage (MGM.N) over a potential investment in the struggling casino company, the Wall Street Journal reported on Thursday.

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The report on www.wsj.com said MGM Mirage must find other ways to service its $13.5 billion debt and fund payments on its $8.6 billion City Center project in Las Vegas.

Australian gambling company Crown Ltd (CWN.AX) has also backed away from investing in MGM Mirage for the time being, the Journal reported.

It cited a person close to Colony as saying it may re-engage with MGM Mirage in the future, depending on the casino company's other negotiations.

Representatives of Colony could not immediately be reached for comment (Reporting by Grant McCool; Editing Bernard Orr)

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