By now everyone has heard of CityCenter. It has been one of the most anticipated grand openings in recent Las Vegas history. It has had all the makings of an epic Hollywood film. There was its “Hey, I got an idea that will revolutionize this city” birth, a big planning stage, tough times through a sagging economy, a dispute between ownership partners which nearly comes to a lawsuit and the death of the project, construction, completion, and, finally, a grand opening. It has its heros like Jim Murren the Chief Executive Officer of the MGM Mirage Resort and Casino group who carries everything in a backpack, and the 92 year old shareholder who is the guiding light.

There has been a new development in the CityCenter saga. It may not be as tasty as some others, but it is significant none the less. Gary Jocobs has resigned from the casino group. The resignation took effect just before Christmas. Mr. Jacobs positions at MGM Mirage were President of Corporate Strategy, General Counsel and Secretary, and a member of the Board of Directors. The filing has been sent through the Securities and Exchange Commission. No reason was made apparent at the time of the filing, and MGM Mirage officials are not elaborating.

Gary Jacobs had been with the casino giant for close to nine years, having been hired there in 2000 after being a senior partner with a Los Angles law firm. He is considered to be one of the key figures in keeping MGM Mirage’s dream of CityCenter afloat when the tough times hit the project and a lawsuit with partner, Dubai World, seemed eminent. Saving the CityCenter project was essential from keeping the entire MGM Mirage operation for filing for bankruptcy. Jacobs comment on that period of time as, “…like going down a river, but you would hit one set of rapids, then you hit another set of rapids, and another and then another one.” To the outsider, the reasons behind the resignation are mysterious at best. All that can be certain is Gary Jacobs did his part in saving the future for CityCenter and the MGM Mirage casino empire.

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