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MGM Resorts International News
MGM Grand in Detroit Draws Suitors
3 Dec 2004
MGM Mirage said today it may sell its MGM Grand casino in Detroit after receiving several offers from potential buyers.
Mandalay Results, Detroit Rumors Push MGM Mirage Shares Up
3 Dec 2004
News Brief: Blowout numbers from a merger partner and word of a possible sale of a Detroit casino pushed shares of MGM Mirage to a 52-week high early Friday.
MGM Mirage Considering Strategic Alternatives in Detroit
3 Dec 2004
MGM Mirage reports that it was considering various strategic alternatives in connection with operations in Detroit, Michigan.
Gaming Stocks Showing Strength
1 Dec 2004
Gaming stocks continued to surge throughout November as investors responded to positive third-quarter earnings announcements and the news of potential new casino development along the Strip.
Inside Gaming Column: Sands Execs Revved Up For IPO: The Tour
29 Nov 2004
A selections of news and views from inside the industry this week.
MGM Mirage Reports Credit Facility Financing
23 Nov 2004
MGM Mirage has entered into a Fourth Amended and Restated Loan Agreement which will provide for a $7.0 billion senior credit facility.
Inside Gaming Column: Look for Boyd to Join Urban Cowboys
22 Nov 2004
A selection of news and views from inside the industry this week.
Mandalay Officials Could Get $75 Million
19 Nov 2004
Mandalay Resort Group officials are expected to receive cash payments of more than $75.5 million upon the company's historic acquisition by MGM Mirage, recent financial statements show.
Casino Workers Find a Home
18 Nov 2004
Desert Oasis apartment complex, a virtual city of 52 beige stucco buildings in Primm, , is available only to employees of Primm Valley, an MGM Mirage subsidiary that owns the Buffalo Bill's, Primm Valley Resort and Casino and Whiskey Pete's properties in Primm.
British Government Deals Losing Hand to Harrah's, MGM Mirage
17 Nov 2004
Harrah's Entertainment and MGM Mirage emerged as losers Tuesday when the British government announced its initial plans for the deregulation of gaming in the United Kingdom, Wall Street analysts said.
CityCenter at Center Stage for Strip
15 Nov 2004
With its announcement last week of an 8,000-room "urban village" in the heart of the Strip, MGM Mirage is moving boldly where no casino company has gone before.
MGM Mirage-Mandalay Merger Loan Approved
12 Nov 2004
MGM Mirage's lenders have agreed to loan the company $7 billion in order to finance the acquisition of Mandalay Resort Group, the company disclosed this week.
MGM Mirage Plans Massive Strip Project
10 Nov 2004
MGM Mirage announced plans Tuesday for a multibillion-dollar "urban metropolis" consisting of hotels and condominium towers that will be built at the site of its aging Boardwalk casino on the Strip over the next several years.
Engineers' Strike Still Possible at Mandalay Properties
8 Nov 2004
News Brief: The possibility of a strike remains for about 320 members of the Operating Engineers Local 501 who work at three Mandalay Resort Group properties.
Inside Gaming: Futures Market Nailed Election
8 Nov 2004
A selection of news and views from inside the industry this week.
Prop.1 Backer Profited from Internet Gambling
26 Oct 2004
Michigan gambling opponents call MGM Mirage hypocrites for backing Michigan’s Proposal 1 after profiting off of Internet gambling as late as 2003.
Analysts Not Impressed by MGM Mirage Results
21 Oct 2004
A record quarter and continued optimism for the months to come couldn't calm Wall Street's jitters surrounding MGM Mirage.
MGM Mirage Reports Record Results
20 Oct 2004
MGM Mirage reports adjusted EPS rose 68% to $0.57 in Q3 from $0.34 in Q3 2003, representing the company's best third quarter performance in its history and continuing a strong trend of year-over-year increases in earnings during 2004.
Gaming Giants Target UK Towns
14 Oct 2004
International News Brief: American gambling giants will target every major town and city in Britain for mega-casinos under liberalized licensing laws being planned by the Government.
Merger Mania in the Casino Industry
12 Oct 2004
John Grochowski: Merger mania has been the norm in the casino industry for years, as we've
seen more and more casinos in the hands of fewer and fewer companies.
Taxes Irk Casino Execs
7 Oct 2004
Casino executives expressed frustration and concerns over some states’ casino taxes while speaking the Global Gaming Expo.
Execs Expect Merger to Proceed
7 Oct 2004
News Brief: Executives behind the planned Mandalay Resort-MGM Mirage and Caesars Entertainment-Harrah's mergers say that the proposed takeovers are unlikely to face deal-stopping regulatory resistance.
MGM Mirage President: Profit Hurt by Tribal Casinos
30 Sep 2004
Competition from tribal casinos has likely cut revenue at MGM Mirage casinos by about 3 percent to 4 percent a year over the past several years, according to MGM Mirage President Jim Murren.
London Casino Planning Team Named
23 Sep 2004
International News Brief: One of London's largest casino projects is moving ahead with Earls Court & Olympia and MGM Mirage Partnership appointing a planning team to work on a £150 million complex earmarked for the Olympia 2 exhibition centre.
MGM Mirage Outlines Profit Potential of Merged Company
22 Sep 2004
MGM Mirage said a combined MGM Mirage-Mandalay Resort Group entity would have earned a profit of $1.83 per share for the six months ended June 30 compared with a profit of $1.36 per share for MGM Mirage alone -- a result that's better than one expert had predicted.
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