MGM Mirage (MGM +2%) to take a nearly $1B charge to write-down the value of its massive Vegas...

|About: MGM Resorts International (MGM)|By:, SA News Editor

MGM Mirage (MGM +2%) to take a nearly $1B charge to write-down the value of its massive Vegas CityCenter project, saying the carrying value of its residential inventory is not recoverable. Meanwhile, controlling shareholder Tracinda says it's exploring "other alternatives" to its investment in the gambling and resort giant.