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MGM Resorts International News
Mandalay is Weighing Sweetened Merger Deal
14 Jun 2004
The biggest merger in casino industry history may be back on.
Proposed MGM Mirage Buyout of Mandalay Resort Group: What Happens Next?
14 Jun 2004
Mandalay Resort Group may be saying no to a marriage with MGM Mirage, but industry insiders, analysts and experts still see some merits to a union between the two gaming giants.
MGM Mirage Makes New Offer to Mandalay
14 Jun 2004
Under the new proposed terms, MGM Mirage would pay $71.00 per share in cash, representing a premium of 30% to Mandalay's closing share price on June 3, the day before the initial offer was made.
Mandalay Resort Group Rejects MGM Proposal
11 Jun 2004
Mandalay Resort Group Board of Directors has rejected the proposal because it did not provide sufficient assurance to Mandalay shareholders that the transaction would close.
MGM Offer Stalled by Price
11 Jun 2004
Concerns that antitrust issues might trip up MGM Mirage's plans to buy Mandalay Resort Group were fading fast Thursday as talks between the companies seemed to be boiling down to nothing more than price.
Kerkorian Succession Issue Highlighted by Merger Offer
11 Jun 2004
The succession plan for Kerkorian's 57 percent interest in MGM Mirage is private and experts appear to have little idea who could end up controlling the casino company in the event he passes away.
MGM Mirage Holds Firm on Offer
10 Jun 2004
Wall Street analysts and a source close to the talks said MGM Mirage is holding firm
on its original $68 per share offer to buy Mandalay Resort Group.
'Wal-Mart Effect' Seen With Potential Casino Merger
9 Jun 2004
As talks continue on a potential merger between MGM Mirage and Mandalay Resort Group, the potential fallout of such a blockbuster deal is being assessed by the companies' employees and suppliers.
Mandalay Acquisition Needs Mississippi Approval
9 Jun 2004
News Brief: The Mississippi Gaming Commission would have to approve the MGM Mirage buyout of Mandalay since MGM Mirage and Mandalay Resort Group are licensed in Mississippi.
MGM Mirage Extends Deadline on Buyout Offer
9 Jun 2004
MGM Mirage Tuesday extended the deadline on its offer to buy Mandalay Resort Group until 5 p.m. Friday, leading Wall Street analysts to believe the two companies have reopened meaningful talks on what would be the largest gaming merger ever.
Uncertainties Surround MGM Mirage Buyout Offer
8 Jun 2004
Investors waited intently today as a 5 p.m. deadline neared on MGM Mirage's $7.65 billion offer to acquire Mandalay Resort Group and as buyout talks continued between the Las Vegas casino-resort giants.
Kerkorian Strikes Again
7 Jun 2004
Who else but Kirk Kerkorian, majority owner of MGM Mirage shares, could engineer such a stunning proposal to acquire one of the hottest casino companies on the Strip?
Mandalay Shares Soar After Takeover Bid
7 Jun 2004
Mandalay Resort Group shares soared 20 percent this morning after news late Friday that MGM Mirage offered to buy Mandalay for $68 per share, or $7.65 billion.
MGM Mirage: Mandalay Offer Leaked
7 Jun 2004
News Brief: Mirage pushed Mandalay Resort Group to go public on a buyout offer Friday, citing concerns that Mandalay's stock movement suggested there had been a leak in the negotiations.
As Shock Wears Off, Analysts Warm Up To MGM Mirage's Bid for Mandalay
7 Jun 2004
MGM Mirage's offer to buy rival Mandalay Resort Group might have caught everyone by surprise, but it shouldn't disappoint shareholders and the gaming industry, Wall Street analysts and insiders said this weekend.
MGM Mirage Offers to Buy Mandalay for $7.65 Billion
5 Jun 2004
MGM Mirage has offered to purchase Mandalay Resort Group for $68 per share in a cash transaction, the value of which would be approximately $7.65 billion.
Casino Companies Face Overtime Claims
14 May 2004
Security workers at Caesars Entertainment Inc. and MGM MIRAGE properties are suing the companies, saying they violated state and federal labor laws by requiring employees to report early for work and not paying them for the extra time.
MGM Mirage Calls it Quits on UK's Wembley
5 May 2004
ews Brief: MGM Mirage said all bets were off in its bid for UK racetrack owner Wembley Plc because it would not trump a 309 million pound recommended offer.
Casino Shares Fall
4 May 2004
News Brief: Shares of casino operators Mandalay Resort Group and MGM Mirage fell 6 percent on Tuesday after Merrill Lynch downgraded ratings on concerns growth in the white-hot sector would slow.
Gaming Execs Make Forbes Compensation List
4 May 2004
Top executives at four Nevada gaming companies -- Caesars Entertainment, Harrah's Entertainment, International Game Technology and MGM Mirage -- made this year's Forbes list of compensation at the top 500 U.S. companies.
MGM Mirage Reports Most Profitable Quarter
22 Apr 2004
MGM Mirage capitalized on strong casino play and improved hotel demand to produce its most-profitable quarter since MGM Grand Inc. and Mirage Resorts merged nearly four years ago.
MGM Mirage Profit Soars 50%
21 Apr 2004
Profit at MGM Mirage more than doubled in the first quarter as the improving economy and special events including Chinese New Year and the Super Bowl boosted results at the company's resorts in Las Vegas, the company reported today.
MGM Mirage Puts Diversity in Spotlight
21 Apr 2004
Diversity in the gaming industry was the focus of attention again Tuesday as MGM Mirage Chairman Terry Lanni released the company's 2003 diversity report.
MGM Mirage, UK Developer Reveal Casino Plans
19 Apr 2004
International News Brief: MGM Mirage and Manchester-based Peel Holdings are planning to build casinos in Manchester, Salford, Glasgow and Liverpool.
MGM Mirage UK Deal in Jeopardy
8 Apr 2004
International News Brief: MGM Mirage said last night a recommendation by MPs to limit the number of slot machines could jeopardise its plans in the UK.
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