MGM Mirage completes Laughlin sale

1 Jun 2007

MGM MIRAGE Completes Sale of Laughlin Properties to a Group Led by Anthony Marnell III Friday June 1, 1:37 pm ET

LAS VEGAS, Nevada -- (PRESS RELEASE) -- MGM Mirage (NYSE: MGM) announced today that it has completed its previously announced sale of the Colorado Belle and Edgewater hotel-casinos located in Laughlin, Nevada, to a group led by Anthony Marnell III for $200 million. On a combined basis, these two properties contain some 2,500 guest rooms and over 100,000 square feet of casino space featuring approximately 2,200 slot machines and 70 gaming tables. MGM MIRAGE acquired these properties in April 2005 as part of its acquisition of Mandalay Resort Group.

Anthony Marnell III is the Chairman and CEO of M Resorts. Marnell and his management team are partnered with Sher Gaming, LLC, led by Ed Sher, on this transaction. On June 1, 2006, a Marnell-Sher partnership bought the Saddle West Hotel and Casino in Pahrump, Nevada. Further information on the Marnell- led group can be obtained from Greg Wells, President of Austi LLC, at 702-739-2000.

Banc of America Securities acted as financial advisor to the Marnell group in connection with this transaction.

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	MGM Mirage completes Laughlin sale 1 Jun 2007 <a href='https://ad.casinocity.com/adclick.php?n=a21efcd1'><img src='https://ad.casinocity.com/adview.php?what=-site:vendors/width:250/RON&n=a21efcd1' border='0' alt='' /></a> MGM MIRAGE Completes Sale of Laughlin Properties to a Group Led by Anthony Marnell III Friday June 1, 1:37 pm ET LAS VEGAS, Nevada -- (PRESS RELEASE) -- MGM Mirage (NYSE: MGM) announced today that it has completed its previously announced sale of the Colorado Belle and Edgewater hotel-casinos located in Laughlin, Nevada, to a group led by Anthony Marnell III for $200 million. On a combined basis, these two properties contain some 2,500 guest rooms and over 100,000 square feet of casino space featuring approximately 2,200 slot machines and 70 gaming tables. MGM MIRAGE acquired these properties in April 2005 as part of its acquisition of Mandalay Resort Group. Anthony Marnell III is the Chairman and CEO of M Resorts. Marnell and his management team are partnered with Sher Gaming, LLC, led by Ed Sher, on this transaction. On June 1, 2006, a Marnell-Sher partnership bought the Saddle West Hotel and Casino in Pahrump, Nevada. Further information on the Marnell- led group can be obtained from Greg Wells, President of Austi LLC, at 702-739-2000. Banc of America Securities acted as financial advisor to the Marnell group in connection with this transaction.