MGM Mirage Encouraged by Governor Plans

29 Jan 2004

ATLANTIC CITY, New Jersey – As reported by the Press of Atlantic City: "Gaming giant MGM Mirage isn't saying it will definitely build a new casino in Atlantic City. It's not saying it definitely won't, either.

"Terry Lanni, MGM Mirage's chairman and chief executive officer, said he is encouraged by Gov. James E. McGreevey's new pledge not to raise taxes on casinos or push for video slot machines at New Jersey racetracks without first winning the gaming industry's support.

"But whether the Las Vegas company will finally build a new casino here remains anyone's guess because Lanni isn't tipping his hand.

"…MGM Mirage has had an on-again, off-again relationship with Atlantic City for eight years. It once planned to build a lavish gaming resort on the long-vacant Uptown Urban Renewal Tract, then abandoned that project to focus on a possible casino in the Marina District.

"…MGM Mirage already is a 50-percent owner of the Borgata, which opened last summer and is operated by Boyd Gaming Corp. However, it still hasn't followed through on plans to build its own casino on an adjacent site.

"McGreevey's promise this week not to raise casino taxes or lobby for racetrack slots without first gaining industry approval renewed speculation that MGM Mirage would take a closer look at Atlantic City…"

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	MGM Mirage Encouraged by Governor Plans 29 Jan 2004 ATLANTIC CITY, New Jersey – As reported by the Press of Atlantic City: "Gaming giant MGM Mirage isn't saying it will definitely build a new casino in Atlantic City. It's not saying it definitely won't, either. "Terry Lanni, MGM Mirage's chairman and chief executive officer, said he is encouraged by Gov. James E. McGreevey's new pledge not to raise taxes on casinos or push for video slot machines at New Jersey racetracks without first winning the gaming industry's support. "But whether the Las Vegas company will finally build a new casino here remains anyone's guess because Lanni isn't tipping his hand. "…MGM Mirage has had an on-again, off-again relationship with Atlantic City for eight years. It once planned to build a lavish gaming resort on the long-vacant Uptown Urban Renewal Tract, then abandoned that project to focus on a possible casino in the Marina District. "…MGM Mirage already is a 50-percent owner of the Borgata, which opened last summer and is operated by Boyd Gaming Corp. However, it still hasn't followed through on plans to build its own casino on an adjacent site. "McGreevey's promise this week not to raise casino taxes or lobby for racetrack slots without first gaining industry approval renewed speculation that MGM Mirage would take a closer look at Atlantic City…"