Settlement reached in $500M damages trial between casino, builder of flawed Vegas Strip hotel

MarketsAssociated Press

A last-minute settlement has avoided trial in a massive breach-of-contract lawsuit involving casino giant MGM Resorts International and six of seven contractors on a never-opened Las Vegas Strip hotel tower.

Terms of the agreement announced Tuesday between six of the seven parties in the case were confidential.

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Clark County District Court Judge Elizabeth Gonzalez dismissed a jury seated for a trial that was expected to take at least a year.

Work on the City Center tower stopped about halfway in 2008, after inspectors found steel used on the first 26 stories wouldn't support the remaining 22 floors.

The rest of the glassy $8.5 billion development opened in 2009.

General contractor Tutor Perini Corp. argued MGM Mirage failed to pay bills.

MGM argued the contractor was responsible for building flaws.