Dubai plans $5.1 billion investment in MGM casino

The Dubai government said Wednesday that it would invest about $5.1 billion in MGM Mirage, giving the Las Vegas casino company a partner as it expanded into real estate.
Gambling is banned in the United Arab Emirates and Gulf states, including Saudi Arabia and Kuwait, because it contravenes Islamic Shariah law. Kirk Kerkorian, who owns 54 percent of MGM Mirage, wants to develop more hotel, housing and entertainment complexes to reduce the dependence of the company on gambling. Dubai, flush with cash from an oil-fueled economic boom, has announced plans this year for at least $13.5 billion in acquisitions.