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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: MGM Mirage

MGM Mirage stories: 11 news summaries

MGM Mirage Doubles Down on Global Market

Vegas brand expands to Asia, Middle East despite industry woes

May 20, 09 8:32 AM CDT
(Newser) - With the hospitality business gasping for air and its own core business in trouble, MGM Mirage is going global in hopes of building its brand well beyond Las Vegas. Having sealed eight deals with hotel developers and in talks with 10 more, the company will introduce the Bellagio and MGM ... More »

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China • Vietnam • Las Vegas • Bellagio • MGM Mirage • Egypt • CityCenter • hotel • UAE

(Newser) - MGM Mirage, the gambling conglomerate, is considering the sale of casino properties in Michigan and Mississippi to pay down debt and save an underfunded Las Vegas development, the Wall Street Journal reports. The Vegas-based company has retained Morgan Stanley to shepherd the sales of the MGM Grand Detroit and... More »

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Detroit • Las Vegas • MGM Mirage • Morgan Stanley • debt • recession • casino • Mississippi • Dubai World • MGM Grand • City Center

Giant Vegas Project May File for Bankruptcy

Kerkorian-Dubai megaconstruction will miss debt payment

Mar 27, 09 7:33 AM CDT
(Newser) - City Center, the sprawling $8.6 billion Las Vegas development and the largest private construction project in history, will likely fail to make a $220 million debt payment today and may file for bankruptcy. The project is a collaboration between Kirk Kerkorian's MGM Mirage and Dubai World, a conglomerate owed... More »

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Kirk Kerkorian • Las Vegas • MGM Mirage • Dubai • casino • Dubai World • Nevada • Howard Stern Grid

 What Downturn? Vegas 
 Gets New $2.3B Resort 

Mogul riding high while rivals, Vegas struggle

Dec 20, 08 4:15 PM CST
(Newser) - Recession has dimmed the glittering lights of Las Vegas, but it hasn’t stopped hotel and casino mogul Steve Wynn, AFP reports. Wynn is preparing to open the lavish $2.3 billion resort Encore on Monday as Sin City weathers its worst economic meltdown in decades. “I don't owe... More »

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Las Vegas • MGM Mirage • casino • Steve Wynn • Las Vegas Strip • Wynn Las Vegas

MGM Mirage Chief Quits
Amid Fake MBA Flap

Lanni denies sudden resignation related to degree fib

Nov 14, 08 2:04 AM CST
(Newser) - The CEO of MGM Mirage has announced his resignation, but denied it had anything to do with lying about having an MBA, reports the Wall Street Journal. J. Terence Lanni, one of the most powerful figures in the gambling world, has long claimed to have an MBA from the University... More »

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Kirk Kerkorian • gambling • Las Vegas • CEO • MGM Mirage • resignation • casino • University of Southern California • MBA

MGM Delays New Casinos
for Vegas, Atlantic City

After credit downgrade, firm reports 67% decline in quarterly net income

Oct 29, 08 3:03 PM CDT
(Newser) - MGM Mirage will suspend work on new casinos in Las Vegas and Atlantic City due to the dismal credit climate, the Wall Street Journal reports. The firm reported a 67% drop in third-quarter net income as the slumping economy quells consumers’ desire to gamble or spend at casino restaurants and... More »

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Atlantic City • gambling • Las Vegas • MGM Mirage • profits • casino • credit crisis • net income

US Casinos
Dotting Macau
Can't Cash In

Gambling's red hot,
but local middlemen take a huge cut

May 22, 08 5:51 PM CDT
(Newser) - Casinos on the Chinese island of Macau create more gambling revenue than the ones in Las Vegas and Atlantic City combined, but US operators—permitted to set up shop there since 2004—are decidedly not rolling in the money. The Wall Street Journal looks at the bumps in the road... More »

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China • Macau • Las Vegas • MGM Mirage • casino • Steve Wynn

Comeback for Siegfried & Roy?

Duo discuss reigniting Vegas tiger act

Dec 4, 07 7:54 AM CST
(Newser) - Four years after a horrific mauling by a 600-pound white tiger at the Mirage hotel almost killed Las Vegas showman Roy Horn, he and partner Siegfried Fischbacher appear to be planning a comeback, reports People magazine. "A good magician never lets the cat out of the bag," the... More »

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Las Vegas • MGM Mirage • Siegfried and Roy • Siegfried Fischbacher • Roy Horn

Dubai Betting
$5B on Vegas Casino Giant

Deal with MGM Mirage gives Persian Gulf state stake in gaming Mecca

Aug 22, 07 2:01 PM CDT
(Newser) - Dubai World—a company owned by the government of the oil-rich Persian Gulf state—plans to invest up to $5.1 billion in MGM Mirage, the world's second-largest casino company, Bloomberg reports. The move would give Dubai a presence in booming Las Vegas and free up assets for MGM Mirage... More »

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Persian Gulf • Kirk Kerkorian • gambling • Las Vegas • MGM Mirage • Dubai • casino • Dubai World

Kerkorkian Hedges Bets on MGM

Billionaire investor withdraws offer for casino properties

Jun 20, 07 9:13 AM CDT
(Newser) - Mega-investor Kirk Kerkorian has withdrawn his intended bid for two of MGM Mirage's showcase properties. Kerkorian, who owns a 56% stake in the company, pulled his preannounced offer on news of a multi-billion dollar development deal between MGM and South African casino giant Kerzner International to develop a new property... More »

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Kirk Kerkorian • Bellagio • MGM Mirage • casino • Kerzner International

Kerkorian Bets on Bellagio

Billionaire who controls MGM Mirage makes bid for its two hottest assetsi

May 22, 07 2:54 PM CDT
(Newser) - Activist investor Kirk Kerkorian, who holds a controlling interest in MGM Mirage, is making a play to buy two of the casino company's crown jewels. Kerkorian's company, Tracinda Corp., is in talks to acquire MGM's Bellagio Casino and the $7.4 billion CityCenter development, currently under construction. Kerkorian currently owns... More »

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private equity • Kirk Kerkorian • investors • Bellagio • MGM Mirage • Tracinda Corp. • privatization • CityCenter

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