MGM Mirage Gains on Upgrade

21 Sep 2004

LAS VEGAS – As reported by The Street: "Shares of MGM Mirage (NYSE:MGG) rose more than 2% on Monday after Merrill Lynch upgraded the casino operator to buy from neutral, citing increased cash flow from its pending merger with Mandalay Resorts Group (NYSE:MBG).

"According to analyst David Anders, MGM shares have the potential to gain 24% over the next 12 months if the Federal Trade Commission approves the deal. Anders predicts the combined entity would generate $5.16 a share in adjusted free-cash flow during 2005, concluding "even if the company is required to sell off an asset or two, the math still makes enormous sense."

"In reaction, shares of MGM -- which have gained 15% since Aug. 24 -- rose another $1.07 to $47.26…"

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	MGM Mirage Gains on Upgrade 21 Sep 2004 <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> LAS VEGAS – As reported by The Street: "Shares of MGM Mirage (NYSE:MGG) rose more than 2% on Monday after Merrill Lynch upgraded the casino operator to buy from neutral, citing increased cash flow from its pending merger with Mandalay Resorts Group (NYSE:MBG). "According to analyst David Anders, MGM shares have the potential to gain 24% over the next 12 months if the Federal Trade Commission approves the deal. Anders predicts the combined entity would generate $5.16 a share in adjusted free-cash flow during 2005, concluding "even if the company is required to sell off an asset or two, the math still makes enormous sense." "In reaction, shares of MGM -- which have gained 15% since Aug. 24 -- rose another $1.07 to $47.26…"