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MGM Resorts International News
MGM Mirage Gains on Upgrade
21 Sep 2004
News Brief: Shares of MGM Mirage rose more than 2% on Monday after Merrill Lynch upgraded the casino operator to buy from neutral.
Company Denies Reports on South Korea
20 Sep 2004
MGM Mirage officials are denying news reports that the company is part of a team of U.S. investors that has signed or is about to sign a deal to build a "leisure complex" west of the South Korean capital.
MGM Mirage Ducks IPO
17 Sep 2004
MGM Mirage now expects to cover its $7.9 billion bet on Mandalay Resort Group entirely with bank borrowing, saving the company tens of millions of dollars a year in the process.
MGM Mirage Extends Expiration Date for Notes
10 Sep 2004
MGM Mirage reports that it is extending until 5:00 p.m., New York City time, on September 14, 2004, unless further extended, the expiration date of its offer to exchange $300 million in aggregate principal amount of its 5.875% Senior Notes due 2014.
MGM Mirage Bonds Gain
9 Sep 2004
News Brief: Bonds of MGM Mirage are rising on speculation an influx of visitors to Las Vegas will ease the burden of meeting any additional debt payments taken on in connection with its planned acquisition of Mandalay Resort Group.
CIO Bracing for MGM-Mandalay Merger
1 Sep 2004
News Brief: Glenn Bonner, who oversaw the integration of MGM and Mirage in 2000, is bracing for the pending acquisition of Mandalay Resort Group, which is expected to be completed next year.
Casino Merger Value Rises
23 Aug 2004
The preliminary price for MGM Mirage to buy Mandalay Resort Group has edged up to $8.1 billion in the two months since the deal was announced in June, but Wall Street analysts on Friday said the merger still makes sense for investors and the combined company.
S&P Rates MGM Mirage Bonds
13 Aug 2004
Standard & Poor's Ratings Services assigned a BB+ rating to MGM MIRAGE's proposed bond issue of $550 million in notes due Sept. 1, 2012.
MGM MIrage Gains Settlement for Bellagio Outage
9 Aug 2004
MGM Mirage said today it received a $6 million insurance settlement in the second quarter related to the power outage that shut down the company's Bellagio resort for more than three days.
Potential Buyers List for Harrah's, Caesars Properties is Growing
3 Aug 2004
Midsize casino companies nationwide are expected to join a long list of potential buyers for assets that will be sold should the MGM MIRAGE-Mandalay Resort Group and Harrah's Entertainment Inc.-Caesars Entertainment Inc. mergers go through, analysts say.
MGM Mirage-Mandalay Merger Hits Snag
28 Jul 2004
MGM Mirage's pending buyout of Mandalay Resort Group hit its first snag when the Federal Trade Commission requested more information about the competitive consequences of their proposed merger.
Mandalay, MGM Mirage Requested for Information from FTC
27 Jul 2004
Mandalay Resort Group and MGM Mirage today jointly announced that they have received a request from the Federal Trade Commission for more information relating to the previously announced merger of the two companies.
MGM Mirage Completes Australian Casino Sale
23 Jul 2004
MGM Mirage has completed the previously announced sale of its
hotel and casino located in Darwin, Australia to SkyCity Entertainment Group Limited.
MGM Mirage Profit Skyrockets
21 Jul 2004
News Brief: MGM Mirage reported its second-quarter profit nearly doubled, topping estimates, as hotel rooms filled up and gamblers flocked to its Las Vegas casinos.
Mergers Raise Concern
16 Jul 2004
News Brief: The mergers of the gaming industry’s top four companies into two mega-companies has drawn the intense interest of antitrust regulators.
Mergers and Acquisitions: Other Deals in Works?
14 Jul 2004
MGM Mirage is continually looking for new acquisition and expansion possibilities although it prefers dealing with some gaming jurisdictions more than others, the company's chairman said in a recent interview.
MGM Submits Plans to Macau Government
14 Jul 2004
International News Brief: MGM Mirage has submitted plans for its proposed casino venture in Macau to the SAR government, following the completion of a subconcession agreement with Stanley Ho's Socieded de Jogos de Macau.
Gambling Companies Offer Credit Card Reward Program
5 Jul 2004
News Brief: The three biggest gambling companies in the nation have teamed up with major banks to create credit card reward programs in which members can redeem points at their resorts.
MGM-Mandalay Lifts Gaming Stocks
2 Jul 2004
Investors bid gaming stocks modestly upward in June largely based on the interest created by the $7.9 billion buyout agreement between MGM Mirage and Mandalay Resort Group.
Slot Makers Shares Recover
25 Jun 2004
After sinking like bricks following the announcement of MGM Mirage's $7.9 billion bid for Mandalay Resort Group, slot maker shares recovered 3 percent to 5 percent.
Execs Dismiss New York Post Story
25 Jun 2004
Officials at MGM Mirage and IGT called the New York Post’s report that IGT stood to benefit from the MGM Mirage’s buyout of Mandalay as laughable.
MGM Mirage Considering Keeping Circus Circus
24 Jun 2004
MGM Mirage, once its $7.9 billion buyout of Mandalay Resort Group is done, is interested in keeping and maybe redeveloping Circus Circus, MGM Mirage President Jim Murren said.
Gaming Executives Continue to Sell Shares
23 Jun 2004
Officers of major Las Vegas casino companies have sold a total of more than 2.7 million shares over the past couple of months, recent records show.
Gaming Industry: Experts See Land as Key Deal Asset
23 Jun 2004
MGM Mirage's plans to buy Mandalay Resort Group would set the company up to be the primary Strip developer for the next 15 years, company executives and industry analysts said.
Mandalay Postpones Stockholders Meeting
23 Jun 2004
Mandalay Resort Group has postponed its annual meeting of stockholders in order to include for consideration at the annual meeting the merger agreement among Mandalay, MGM Mirage and a subsidiary of MGM Mirage.
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