Mandalay Resort Group

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International Guild of Hospitality & Restaurant Managers

Mandalay Resort Group (NYSE:MBG)

3950 Las Vegas Boulevard South
Las Vegas, NV 89119

Phone: (702) 632-6700
Fax: (702) 634-3450
Employees (last reported count): 33,300

Mandalay Resort Group is a hotel-casino operator. The Company's Mandalay Mile is a large-scale hotel-casino resort development in Las Vegas, the world's largest gaming market. Mandalay Mile consists of three interconnected mega-resorts on 230 acres, including its flagship property, Mandalay Bay. The Company and the joint ventures in which it participates operate a total of 16 properties with more than 27,000 guest rooms and more than one million square feet of casino space in Nevada, Mississippi, Illinois and Michigan. Of these properties, 12 are wholly owned and have more than 22,400 guestrooms and more than 800,000 square feet of casino space. In addition, the Company owns a 50% interest in each of three joint venture casino properties that have approximately 4,700 guest rooms and more than 200,000 square feet of casino space, and a 53.5% interest in a fourth joint venture casino with approximately 75,000 square feet of casino space.

The primary source of the Company's revenues is casinos, although its hotels, restaurants, bars, shops, midway games and other entertainment attractions and other services are an important adjunct to the casinos.

Mandalay Bay is located on approximately 60 acres on the Las Vegas Strip, adjacent to the Company's Luxor. The 43-story South Seas themed hotel-casino resort, which opened in March 1999, has 3,643 guest rooms, including a Four Seasons Hotel with 424 guest rooms that provides visitors with the only luxury "five-diamond" hospitality experience in Las Vegas.

Luxor is an Egyptian-themed hotel and casino complex situated on 64 acres of the Mandalay Mile, between Mandalay Bay and Excalibur. The resort features a 30-story pyramid and two 22-story hotel towers.

Excalibur is a castle-themed hotel and casino complex situated on a 53-acre site immediately to the north of Luxor. Excalibur's public areas include a Renaissance fair, a medieval village, an amphitheater with a seating capacity of nearly 1,000, where nightly mock jousting tournaments and costume drama are presented, two dynamic motion theaters, various artisans' booths and medieval games of skill.

Circus Circus-Las Vegas, which is the Company's original resort, is a circus-themed hotel and casino complex situated on approximately 69 acres on the north end of the Las Vegas Strip. Circus Circus-Las Vegas also offers accommodations for approximately 400 recreational vehicles at the property's Circusland Recreational Vehicle Park.

Through wholly owned subsidiaries, the Company is a 50% participant with MRGS, a subsidiary of MGM MIRAGE, in its Las Vegas joint venture, Victoria Partners, which owns Monte Carlo, a hotel and casino resort situated on 46 acres with approximately 600 feet of frontage on the Las Vegas Strip. The Company is the managing partner of this joint venture. Monte Carlo is situated between Bellagio, a 3, 000-room resort owned and operated by MGM MIRAGE and connected to Monte Carlo by a monorail, and New York-New York, a 2,000-room hotel-casino resort owned by MGM MIRAGE.

Circus Circus-Reno is a circus-themed hotel and casino complex situated in downtown Reno, Nevada. Like its sister property in Las Vegas, Circus Circus-Reno offers its guests a variety of circus acts performed daily, free of charge. The property also has two specialty restaurants, a buffet with a seating capacity of approximately 450, a coffee shop, a deli/bakery, a fast food snack bar, cocktail lounges, a gift shop and specialty shops.

Through a wholly owned subsidiary, the Company is a 50% participant with Eldorado Limited Liability Company in Circus and Eldorado Joint Venture, a Nevada general partnership that owns and operates Silver Legacy, a hotel-casino and entertainment complex situated on two city blocks in downtown Reno, Nevada. Silver Legacy's casino and entertainment complex is connected with Circus Circus-Reno and the Eldorado at the mezzanine level by enclosed climate-controlled skyways above the streets between the respective properties.

Colorado Belle is situated on a 22-acre site on the bank of the Colorado River (with nearly 1,080 feet of river frontage) in Laughlin, Nevada. Colorado Belle, which features a 600-foot replica of a Mississippi riverboat, includes a 350-seat buffet, a coffee shop, three specialty restaurants, a microbrewery, fast food snack bars and cocktail lounges, as well as a gift shop and other specialty shops.

Edgewater is situated on a 16-acre site adjacent to Colorado Belle with nearly 1,640 feet of frontage on the Colorado River. Edgewater's facilities include a specialty restaurant, a coffee shop, a 600-seat buffet, a snack bar and cocktail lounges.

Gold Strike-Jean is an "Old West" themed hotel-casino located on approximately 51 acres of land on the east side of Interstate-15. The property has, among other amenities, a swimming pool and spa, several restaurants, a banquet center equipped to serve 260 people, a gift shop and an arcade. The casino has a stage bar with regularly scheduled live entertainment and a casino bar.

Nevada Landing is a turn-of-the-century riverboat themed hotel-casino located on approximately 55 acres of land across Interstate-15 from Gold Strike. Nevada Landing includes a 70-seat Chinese restaurant, a full-service coffee shop, a buffet with a seating capacity of 140, a snack bar, a gift shop, a swimming pool and spa, and a 300-guest banquet facility.

Railroad Pass is situated on approximately 56 acres along US-93, the direct route between Las Vegas and Phoenix, Arizona. In contrast with its other Nevada properties, Railroad Pass caters to local residents, particularly from Henderson, who may prefer the informal atmosphere and easy access of Railroad Pass to the casinos on the Las Vegas Strip.

Gold Strike-Tunica is a dockside casino situated on a 24-acre site along the Mississippi River in Tunica County, approximately three miles west of Mississippi State Highway 61 (a major north/south highway connecting Memphis with Tunica County) and 20 miles south of Memphis. Gold Strike-Tunica is part of a three-casino development covering approximately 72 acres. The other two casinos are owned and operated by unaffiliated third parties.

MotorCity Casino, which is 53.5% owned by the Company and the rest by its joint venture partner, Atwater Casino Group, was opened on December 14, 1999. MotorCity Casino is a temporary casino facility in Detroit, Michigan, which is being operated pending the construction of a permanent hotel-casino.

Through a wholly owned subsidiary, the Company is a 50% participant with RBG, L.P., an affiliate of Hyatt Development Corporation, in a joint venture that owns and operates Grand Victoria. Grand Victoria is a Victorian themed riverboat casino and land-based entertainment complex in Elgin, Illinois, a suburb approximately 40 miles northwest of downtown Chicago.

Disclaimer:
The data included within the Financial section is solely for information and does not construe a recommendation and/or endorsement by IGHRM or its members to invest funds with any of the companies listed. You are strongly advised to obtain professional advice with qualified individuals or corporations for any investments of funds.

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