Facing his biggest defeat in high-stakes casinos, L.A. billionaire investor Kirk Kerkorian is showing a gambler’s comeback streak with a possible deal to rescue his celebrated but stalled project on the Las Vegas Strip.

Sources say a settlement appears in the works between Kerkorian and his aggrieved development partner, the government of Dubai and its investment unit Dubai World, which were ready to pull out due to differences over CityCenter’s cost overruns.

The project has faced bankruptcy over crushing debt and the lack of cash to finish the $9 billion-and-counting CityCenter project, which covers 67 acres dedicated to entertainment and gaming thrills.

“Kirk always seems to pull a rabbit out of the hat,” said Roger Gros, publisher of Global Gaming Business and a veteran industry analyst. “He hasn’t exactly hit many home runs with the auto industry, but at least everybody in Las Vegas is calling him a winner again.”

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