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MGM Resorts International News
MGM Mirage Named 'Most Admired' Casino Resort Company
9 Mar 2005
For the fourth year in a row, Fortune Magazine has named MGM Mirage one of "America's Most Admired Companies" in its annual survey of companies with large U.S. operations.
MGM Mirage's Board of Directors Approves Stock Split
9 Mar 2005
MGM Mirage’s Board of Directors has authorized a 2-for-1 stock split effected in the form of a 100% stock dividend, subject to its stockholders approving an increase in the number of authorized shares of common stock of MGM Mirage.
Michigan Gaming Panel Waits for Name Change
8 Mar 2005
News Brief: The Michigan Gaming Control Board still hasn't received an application to transfer ownership in either MGM Grand casino or MotorCity Casino, but one is expected by week's end, the board's executive director said Monday.
Analysts Say Mandalay Report Doesn't Bode Ill for Other Properties
7 Mar 2005
The less-than-stellar quarterly financial results that Mandalay Resort Group blamed on January's rainfall totals in Southern California doesn't forecast rough weather ahead for the rest of the Strip, gaming analysts said Friday.
Marz Unsure Whether He Can Remain on Board
2 Mar 2005
MGM Mirage is acquiring Mandalay Resort Group, and Marz is among the Mandalay executives who won't have a job when the deal is completed later this month.
A Tale of Two Kinds of Companies
2 Mar 2005
A lesson to be taken away from February's performance of Nevada's major gaming company stocks was that it's good to be a casino operator.
Expert Warns Against Football Casinos
25 Feb 2005
International News Brief: An expert on the gambling industry has warned potential backers not to invest in casinos near North-East football grounds because of hooligans.
Mandalay Employees to Keep Existing Benefits
25 Feb 2005
Front-line employees at Mandalay Resort Group properties would keep their existing benefits packages and wouldn't have to reapply for their current jobs when MGM Mirage completes its acquisition of the company.
Nevada Gaming Commission Approves MGM Mirage-Mandalay Merger
25 Feb 2005
MGM Mirage reports that the Nevada Gaming Commission unanimously approved the proposed merger between MGM Mirageand Mandalay Resort Group yesterday.
Tribe Wants Detroit Casino Sale Blocked
24 Feb 2005
News Brief: The Lac Vieux Desert Band of Lake Superior Chippewa Indians is asking the courts to block the sale of any Detroit casino until their lawsuit with the city is settled.
Mandalay Resort Buyout is 'Revenue Story,' Officials Say
23 Feb 2005
MGM Mirage's top executive said he expects to close the company's $7.9 billion acquisition of Mandalay Resort Group in the next week or two following meetings with managers at each of the Mandalay properties.
MGM Mirage-Mandalay Merger: Buyout Gets Control Board's OK
23 Feb 2005
Nevada gaming regulators granted preliminary approval to the creation of a 28-casino company that will employ more than 75,000 workers, 90 percent of whom will be based in Nevada.
MGM Mirage Outlines Deal to Regulators
22 Feb 2005
Billionaire financier Kirk Kerkorian was in attendance at today's Gaming Control Board hearing considering his MGM Mirage's $7.9 purchase of Mandalay Resort Group.
MGM Mirage Restructuring Begins
18 Feb 2005
A day after getting federal antitrust approval of its $7.9 billion buyout of the Mandalay Resort Group and just days away from an anticipated go-ahead from Nevada gaming authorities, the corporate structure of the new MGM Mirage is already beginning to take shape.
MGM Mirage's Macau Venture Approved
17 Feb 2005
MGM Mirage reports that the Mississippi Gaming Commission has unanimously granted a waiver of approval with respect to the Company's application to engage in gaming activities in Macau S.A.R.
MGM MIRAGE, Mandalay Receive FTC Approval
17 Feb 2005
MGM MIRAGE and Mandalay Resort Group jointly announced that they have been notified by the Federal Trade Commission that the its review of the pending acquisition is complele.
Control Board Meetings on MGM, Mandalay Buyout Set
16 Feb 2005
Nevada's gaming regulators have set special meetings to consider the combination of MGM Mirage and the Mandalay Resort Group, an indication that federal regulators are close to reaching a decision on the $7.9 billion deal.
MGM Mirage to Decide on Offer for Casino in Detroit
16 Feb 2005
MGM Mirage could decide this week whether to accept an offer to buy a controlling stake in MotorCity Casino, a spokesman for the buyer said Tuesday.
Merger Partners Watch and Wait
10 Feb 2005
Officials from MGM Mirage and Mandalay Resort Group are hoping to close their merger transaction by the end of March, and company executives are officially unconcerned that the OK from federal regulators has been slow to arrive.
Property Tax Debate Biggest Concern For Gaming Industry
7 Feb 2005
Gaming's largely unsuccessful lobbying efforts in the contentious 2003 legislative session led to some fractures within the industry.
Detroit Sale Expected Within Quarter
3 Feb 2005
News Brief: The soon-to-be-merged gaming giants MGM Mirage and Mandalay Resort Group says it has received about a half dozen offers for one of its two area casinos and expects to sell one before the end of the first quarter.
MGM Confident of Macau Approval
2 Feb 2005
International News Brief: MGM Mirage is close to securing regulatory approval for its proposed joint venture with gambling heiress Pansy Ho to build a casino in Macau, according to company executives.
MGM Mirage Reports Strong Results
1 Feb 2005
MGM Mirage reports that adjusted earnings per diluted share rose 42% to $0.51 in Q4 2004 from $0.36 in the 2003 quarter, representing the company's best fourth quarter performance in its history.
Casino Revenue: Gaming Stocks Start '05 Strong
1 Feb 2005
As gaming companies, including giants MGM Mirage and Harrah's, ready their quarterly earnings reports this week, stock prices for the major operators in January reflected investors' optimism that results will surpass Wall Street estimates.
Man Sues MGM Mirage
26 Jan 2005
News Brief: A Southern California man has sued MGM Mirage for preying on his gambling addiction and inducing him to borrow and lose millions of dollars at its Las Vegas casinos.
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