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MGM Resorts International News
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.
Beau Rivage Plans Golf Course
25 Jan 2005
Beau Rivage plans to build a new 18-hole championship golf course on a 510-acre tract 20 minutes north of the resort.
Company Hires Former FBI Official To Oversee Security
25 Jan 2005
MGM Mirage has hired the former deputy director of the FBI to oversee security at its hotel-casinos as the gambling giant expands its operations into the Far East and possibly other countries.
Casinos Still Leery of Lottery
24 Jan 2005
Introducing a state lottery could be counterproductive and even hurt the state's primary industry, according to one casino representative.
Singapore Lures Gaming Groups
21 Jan 2005
The Singapore Tourism Board has hooked two of the sea's largest fish in its quest to lure world-class casinos to the Southeast Asian city-state.
Mandalay Buyout Prompts Changes in Management
20 Jan 2005
Sources familiar with Mandalay say it intends to divvy up control of the Mandalay properties among its executives rather than create and maintain a separate Mandalay Resort Group operating unit after its merger with MGM Mirage.
MGM Mirage, CapitaLand to Submit Singpore Proposal
20 Jan 2005
MGM Mirage and CapitaLand have agreed to submit a joint concept proposal to the Singapore government for the development of an integrated entertainment resort complex at Marina Bayfront in Singapore.
Big Six's Earnings Soar 40 percent in '04
17 Jan 2005
With the top six gaming companies about to report that their combined earnings are up more than 40 percent, analysts are predicting the Las Vegas gaming industry is entering the largest expansion in at least five years.
MGM-Mirage, Mandalay Deal Seen as Matter of When, Not If
17 Jan 2005
Federal antitrust approval of MGM Mirage's $7.9 billion buyout of the Mandalay Resort Group didn't materialize Friday.
MGM Mirage Calls in Notes
11 Jan 2005
MGM Mirage has called all of its outstanding 6 7/8% Senior Collateralized Notes due February 6, 2008 for redemption.
Developers Visit Possible Casino Sites
7 Jan 2005
News Brief: More than 100 potential developers, investors and operators discussed Singapore's proposed casino with the Singapore Tourist Board on Wednesday and visited two possible sites for the project.
MGM Mirage Named on Forbe's Best Managed List
6 Jan 2005
Forbes magazine has named MGM
Mirage one of the "Best Managed Companies in America," as part of
its annual Forbes Platinum 400 list of top-performing big corporations.
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