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MGM Resorts International News
MGM Mirage-Mandalay Megadeal Close to Completion
22 Apr 2005
MGM Mirage said in a statement that the company expects to complete the merger once Mandalay establishes the escrow account and closes on the sale of its MotorCity Casino in Detroit.
Illinois Gaming Board Grand Victoria Interest Transfer
22 Apr 2005
The Illinois Gaming Board has approved by a 4-0 vote the transfer of Mandalay's 50% ownership interest in the Grand Victoria riverboat casino into an escrow account.
MGM Mirage, Ho Talk About Future Casinos
21 Apr 2005
International News Brief: The newly approved joint venture of MGM Mirage and Pansy Ho is in talks for locations for future casinos in Macau to follow up on the planned $975 million MGM Grand Macau unveiled this week.
Casino Earnings: MGM Mirage Still Roaring
20 Apr 2005
Unlike other casino operators that tipped their hands to Wall Street in recent weeks about better-than-expected first-quarter earnings, MGM Mirage kept a tight lid on its hole card.
MGM Mirage Reports Rosy Profit, Outlook
19 Apr 2005
MGM Mirage officials said the company shattered profit records at several Las Vegas Strip resorts in the first quarter and that the remainder of the year also looks strong.
MGM Mirage Announces Big Plans for Macau Casinos
19 Apr 2005
MGM Mirage said today the government of Macau has granted a subconcession to a joint venture with business partner Pansy Ho Chiu-king to build a $975 million casino resort in the Chinese province.
MGM Mirage Granted of Macau Subconcession to Joint Venture
19 Apr 2005
MGM Mirage reports that its joint venture partnership with Pansy Ho Chiu-king has been granted a subconcession which allows the partnership to develop and operate hotel and casino resorts in Macau.
MGM Mirage Reports Record Results
19 Apr 2005
MGM Mirage adjusted earnings from continuing operations per diluted share increased to an all-time record $0.87 in the first quarter of 2005, eclipsing the company's previous best of $0.74 earned in the second quarter of 2004.
Casino Company Merger Headed Over Final Hurdle
18 Apr 2005
MGM Mirage executives met with the Illinois Gaming Board this week to discuss moving Mandalay's 50 percent ownership of the Grand Victoria into an escrow trust.
Nevada Cancer Institute Adds Gift From MGM MIRAGE
18 Apr 2005
MGM Mirage has joined the growing list of supporters of the Nevada Cancer Institute (NVCI) at the Founders Level of $1 million.
MGM-Mandalay Merger Enters Final Chapter
14 Apr 2005
The final chapter in MGM Mirage's $7.9 billion buyout of Mandalay Resort Group begins today when company officials meet with Illinois gaming regulators to formulate a process concerning one of the smaller pieces of the overall transaction.
Gaming Companies Expected to Report Record Profits
14 Apr 2005
The top six gaming companies should report record profits of almost $500 million for the first quarter of 2005 when they start posting financial results next week, Wall Street analysts said Wednesday.
Kerkorian Ruling Precludes Payout to Nonprofit Groups
13 Apr 2005
Billionaire investor Kirk Kerkorian wasn't the only loser to emerge last week from a long-running court battle with car maker DaimlerChrysler AG.
Award-Winning Architect's Firm Tapped to Design CityCenter Hotel-Casino
12 Apr 2005
The architect responsible for the 1,483-foot Petronas Towers in Malaysia and numerous award-winning structures throughout the United States will design the primary component of MGM Mirage's $4.7 billion Project CityCenter.
MGM Hires Designer for New Project
11 Apr 2005
News Brief: MGM Mirage Inc. has hired Cesar Pelli to design a 4,000-room hotel and casino on the Las Vegas Strip that will serve as the centerpiece for the company's $4.7-billion Project CityCenter development.
Former Flamingo Boss Named New York-New York President
5 Apr 2005
MGM Mirage on Monday named Lorenzo Creighton as president of the company's New York-New York property.
MGM Mirage Appoints President for New York-New York Hotel and Casino
5 Apr 2005
MGM Mirage reports that Lorenzo Creighton has been appointed President and Chief Operating Officer of New York-New York Hotel & Casino.
Few Gaming Firms Disclose Figures on Minority Hiring
30 Mar 2005
hile MGM Mirage isn't the only company to make public its track record on minority hiring and purchasing, most other gaming companies either choose to keep such information private or say they haven't made a decision on whether to release it.
Station, MGM Mirage Execs Reap Millions from Options
29 Mar 2005
Top executives at Station Casinos Inc. reaped a profit of some $130 million from the exercise of stock options last year while MGM Mirage executives exercising options made about $34 million.
MGM Mirage Presents Diversity Initiative Retrospective
29 Mar 2005
MGM Mirage presented a four-year retrospective of its efforts during a meeting attended by more than 700 diversity partners, suppliers, contractors, company executives, elected officials, and business and community leaders.
President of Flamingo to Join MGM Mirage
24 Mar 2005
Lorenzo Creighton has resigned his post at Caesars Entertainment Inc. to join the top management at MGM Mirage's New York-New York resort across the Strip, according to sources familiar with the move.
Mandalay to Sell Interest in the MotorCity Casino
23 Mar 2005
MGM MIRAGE and Mandalay Resort Group report that they have entered into a definitive agreement with an affiliate of Marian Ilitch to sell Mandalay's indirect 53.53% interest in the MotorCity Casino to Mrs. Ilitch's affiliate.
MGM Mirage and Mandalay Extend Closing Date
23 Mar 2005
MGM Mirage and Mandalay Resort Group report that the outside closing date of their merger has been extended to June 30, 2005 in accordance with the terms of the Merger Agreement between the parties.
Profit Rises on Tax Refunds
11 Mar 2005
MGM Mirage and Boyd Gaming Corp. have restated their fourth-quarter profit figures to account for a tax refund.
Former Mayor: Strip Megamergers Benefit Small Businesses
10 Mar 2005
The pending casino megamergers shaking up the Strip will enhance opportunities for small companies, former Las Vegas Mayor and Harrah's Entertainment spokeswoman Jan Jones told Las Vegas Chamber of Commerce members.
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