[IMGCAP(2)]The only hurdle now in question, MGM Mirage says, isits ability to redeem its $782 million. 8.5% senior notes maturingin September 2010. Clearing that obstacle depends in part on itsoperating performance and no downside surprises related to theCityCenter completion guarantee. Should things not go according toplan--entirely possible, if not likely, given the recession--"itmay be necessary for us to seek additional financing or explore thesale of non-core assets to satisfy the September 2010 senior notematurity." In March, MGM Mirage sold Treasure Island to Phil Ruffinfor $755 million.

Station Casinos' future remains up in the air and its$5.7-billion debt load is weighing heavy. The locally headquarteredoperator of more than a dozen off-Strip casinos hasn't been makinginterest payments on its debt and is seeking yet anotherforbearance agreement to complement the one that has alreadyexpired while it awaits word on whether bondholders are amenable tothe pre-packaged bankruptcy plan it filed in February.

Last week, it sought another month of forbearance from theholders of a majority of its senior and senior subordinated notesand the lenders holding a majority of the commitments under itscredit agreement. "The lenders currently are seeking requisiteapproval for the extension of the forbearance agreements, whichhave expired," the company said in a statement.