OTHER NEWS - Dec. 24, 1991
From Times Staff and Wire Reports
MGM Grand Completes Desert Inn Transaction: MGM Grand Inc. said it has completed the sale of the Desert Inn Casino/Hotel to Tracinda Corp., a firm controlled by financier Kerk Kerkorian. The $130-million proceeds of the sale will be used in the construction of the MGM Grand Hotel and Theme Park in Las Vegas. The Desert Inn sale was closed shortly after requisite governmental approvals were received, and prior to the originally anticipated closing date.
