text: **The Residences at MGM Grand.**In July 2004, the venture obtained construction 
  financing for up to $210 million for the development of the first tower. The 
  Company has provided a guaranty for up to 50% of the interest and principal 
  payment obligations on the construction financing as well as a joint and several 
  completion guaranty with its partners. The Company recorded the value of the 
  guaranty obligation, approximately $2 million, in other long-term liabilities. 