|
Nevada Gaming Abstract MGM MIRAGE Company Profile |
|
MGM MIRAGE (NYSE: MGM ), one of the world's leading and most respected hotel and gaming companies, owns and operates 23 properties located in Nevada, Mississippi and Michigan, and has investments in three other properties in Nevada, New Jersey and Illinois. MGM MIRAGE has also announced plans to develop Project CityCenter, a multi-billion dollar mixed-use urban development project in the heart of Las Vegas, and has a 50 percent interest in MGM Grand Macau, a hotel-casino resort currently under construction in Macau S.A.R. MGM MIRAGE supports responsible gaming and has implemented the American Gaming Association's Code of Conduct for Responsible Gaming at its properties. MGM MIRAGE also has been the recipient of numerous awards and recognitions for its industry-leading Diversity Initiative and its community philanthropy programs. For more information about MGM MIRAGE, please visit the company's website at www.mgmmirage.com . The company's corporate headquarters are in Las Vegas. Its management team includes J. Terrence Lanni, Chairman and CEO; James M. Murren, President, CFO, and Treasurer; John T. Redmond, President, MGM Grand, Inc; Robert H. Baldwin, President, Mirage Resorts; and Gary N. Jacobs, Executive Vice President, General Counsel and Secretary. MGM MIRAGE and the MGM Grand casinos are not directly affiliated with MGM Studios, though Kirk Kerkorian, majority shareholder in MGM MIRAGE, owned MGM Studios from 1969 to 1990 and 1996-2005. MGM MIRAGE does not make films or own a film library, and MGM Studios is owned by entertainment/media giant Sony. |
||
MGM MIRAGE News |
||
| MGM MIRAGE history | ||
1967: Kirk Kerkorian buys the Flamingo and begins construction of the International, under the umbrella of his International Leisure Company 1969: On July 2, the International opens on Paradise Road, near the Las Vegas convention center; with 1500 rooms, it is the world's largest hotel 1971: Hilton buys the International Leisure Company, whose chief assets are the International and Flamingo casinos; they become the Las Vegas Hilton and Flamingo Hilton, respectively 1973: Kirk Kerkorian opens MGM Grand at the corner of Flamingo and Las Vegas Boulevard; with 2100 rooms, it is the world's largest hotel 1978: MGM Grand Reno opens 1979: MGM Grand Atlantic City proposed (blueprints, etc exist) but never built 1980: One of the worst high-rise fires in United States history claims 87 lives at the MGM Grand Las Vegas 1986: Kerkorian sells the MGM Grand Las Vegas and MGM Grand Reno to Bally manufacturing; the Las Vegas hotel became Bally's, and the Reno one eventually becomes the Reno Hilton 1986: MGM Grand, Inc., organized as a corporation 1986: Kerkorian buys the Desert Inn in Las Vegas 1987: MGM Grand Air, a charter airline, begins operation 1988: Kirk Kerkorian purchases and quickly sells the Sands in Las Vegas 1989: Kirk Kerkorian buys the Marina at Tropicana and the Strip 1991: Construction begins on a new MGM Grand, incorporating the existing Marina casino hotel, at Tropicana and the Strip 1993: Kerkorian sells the Desert Inn to ITT-Sheraton 1993: The new MGM Grand opens at the corner of Tropicana and Las Vegas Boulevard; with 5005 rooms, it is the world's largest hotel. The property also includes MGM Grand Adventures, a seasonal outdoor theme park. 1994: MGM Grand Air sold, becomes Champion Air 1995: MGM Grand purchases the Diamond Beach Hotel and Casino in Darwin, Australia, which becomes MGM Grand Australia 1996: MGM Grand inks agreement to develop and manage casinos in South Africa; it soon has four properties there. 1997: New York-New York, a joint venture with Primadonna Resorts, opens across the Strip from MGM Grand 1999: MGM Grand acquires Primadonna Resorts, whose portfolio include a 50% stake in New York-New York and the Primm Valley Resorts on the I-15 at the California/Nevada state line 1999: MGM Grand Detroit opens in a temporary facility 1999: The Mansions, a series of ultra-luxury suites, opens at MGM Grand Las Vegas 2000: MGM Grand pays $6.4 billion for Steve Wynn's Mirage Resorts, acquring the Golden Nugget in downtown Las Vegas, Monte Carlo (50% stake), Boardwalk, Mirage, Treasure Island, and Bellagio casinos on the Strip, the Golden Nugget Laughlin, and Beau Rivage in Biloxi. The company's name becomes MGM MIRAGE 2000: MGM Grand Adventures theme park (adjacent to MGM Grand Las Vegas) closes 2001: MGM Mirage sells its operations in the Republic of South Africa to Tsogo Investment Holding Company Limited and Southern Sun Gaming Investments Limited 2001: Isle of Man awards MGM Mirage license to operate a licensed Internet casino 2003: The Borgata Casino, Resort, and Spa, managed by Boyd Gaming, opens in Atlantic City. MGM Mirage holds a 50% stake in the venture 2003: MGM MIRAGE's Isle of Man online casino ceases operations 2004: MGM Mirage sells the Golden Nugget Las Vegas and Golden Nugget Laughlin 2004: MGM Mirage sells MGM Grand Darwin to SKYCITY 2004: Spa tower expansion opens at Bellagio 2004: Treasure Island remodeled, re-branded as "TI" 2005: MGM Mirage buys Mandalay Resort Group for $7.9 billion. It acquires a full ownership of the Monte Carlo on the Strip, several parcels of real estate on the Strip, and the following casinos: Mandalay Bay; Luxor, Excalibur, Circus Circus, Slots-a-Fun (Las Vegas); Railroad Pass (Henderson); Nevada Landing, Gold Strike (Jean); Colorado Belle, Eldorado (Laughlin); Circus Circus, Silver Legacy (50% stake) (Reno);Motor City Casino (Detroit; sold to avoid undue concentration in market); Gold Strike (Tunica, Mississippi), and the Grand Victoria (Elgin, Illinois). 2005: Construction begins on MGM Grand Macau, a joint venture with Pansy Ho 2006: The Boardwalk Hotel-Casino on the Strip closes to make way from Project City Center 2006: First phase of the Signature at MGM Grand, a condo hotel project on the former MGM Grand Adventures site, opens |
||
| MGM MIRAGE: Current Properties | ||
Las Vegas, Nevada MGM Grand [UNLV Library holdings] New York-New York Mandalay Bay Luxor Exacalibur Monte Carlo Bellagio Mirage [UNLV Library holdings] Treasure Island [UNLV Library holdings] Circus Circus Slots-a-Fun Project City Center (under development) Henderson, Nevada Railroad Pass Laughlin, Nevada Colorado Belle Edgewater Jean, Nevada Nevada Landing Gold Strike Primm, Nevada Primm Valley Buffalo Bill's Whiskey Pete's Reno Circus Circus Silver Legacy (50% stake) Detroit, Michigan MGM Grand Detroit Biloxi, Mississippi Beau Rivage Tunica, Mississippi Gold Strike Elgin, Illinois Grand Victoria Atlantic City, New Jersey Borgata (50% stake) |
||
| MGM MIRAGE: Financial Info online | ||
Publicly-accessible sites SEC filings (MGM site) | SEC filings (finance.yahoo) Annual reports (2000-present) For more detailed information, check out these databases. Note: use is restricted to current UNLV faculty, staff, and students. |
||
| MGM MIRAGE: Gaming Collection/UNLV Holdings | ||
UNLV Gaming Collection main page MGM MIRAGE Corporate Archives [box listing?] Financial filings International Leisure MGM Grand, Inc. Mirage Resorts MGM MIRAGE Mandalay Resort Group Property promotional and publicity material [property listings] Architectural drawings [list] Photographs [list] |
|
© 2001-2007 University of Nevada Las Vegas
Questions? Contact the appropriate person. |
This
page last updated
Thursday, 28-Feb-2008 15:50:40 PST
.