BUSINESS BRIEFING / RESORTS

MGM Mirage and Dubai World postponed the opening of one hotel and canceled a condominium development at their CityCenter project on the Las Vegas Strip to trim costs and “maximize” returns in a declining market.

Scrapping the Harmon residential condos saves $200 million, and opening the Harmon Hotel and Spa at the end of 2010 or later defers another $200 million, providing cash-flow relief for both partners, Chief Executive James Murren said.

Gambling revenue on the Strip, where MGM Mirage owns 10 casinos, faces an extended slump amid the global financial downturn.