Financial Main Page | IGHRM Main Page
Disclaimer:

International Guild of Hospitality & Restaurant Managers

MGM MIRAGE

 Back

MGM MIRAGE (MGG)

MGM MIRAGE, formerly known as MGM Grand, Inc., and organized as a corporation on January 29, 1986 , owns and operates several hotel-casinos and resorts through its wholly owned subsidiaries. These properties include Bellagio, MGM Grand Las Vegas, The Mirage, Treasure Island, New York-New York Hotel and Casino, Monte Carlo Resort & Casino, Boardwalk Hotel and Casino, The Golden Nugget, The Golden Nugget-Laughlin, Buffalo Bill's Resort & Casino, Primm Valley Resort & Casino, Whiskey Pete's Hotel & Casino, Primm Center, MGM Grand Detroit, Beau Rivage, MGM Grand Australia and MGM Grand South Africa.

Bellagio is an elegant European-style luxury resort located on an approximately 90-acre site with 1,450 feet of frontage at the center of the
Las Vegas Strip, which opened on October 15, 1998 . Bellagio features a wide variety of casual and gourmet restaurants in both indoor and outdoor settings, upscale retail boutiques and extensive meeting, convention and banquet space.

MGM Grand
Las Vegas is a multi-themed destination resort, located on approximately 116 acres, with over 350 feet of frontage on the Las Vegas Strip and 1,450 feet of frontage on Tropicana Avenue . MGM Grand Las Vegas features a 380,000 square foot conference center, a 6.6-acre lake and spa complex and a Studio 54 nightclub.

The Mirage is a luxurious, tropically themed destination resort located on approximately 100 acres with 2,200 feet of frontage shared with
Treasure Island near the center of the Las Vegas Strip. In April 2001, the new 90,000-square-foot Mirage Events Center opened to the public.

Treasure Island at The Mirage is a Caribbean-themed hotel-casino resort located next to The Mirage. Treasure Island and The Mirage are connected by a monorail.

New York -New York Hotel and Casino is a 47-story destination resort that opened on January 3, 1997 . New York - New York , which is located on the Las Vegas Strip at Tropicana Avenue , replicates many of New York City 's landmark buildings and icons. The casino features highly themed interiors, such as Park Avenue with retail shops. New York - New York also features seven specialty leased restaurants.

Buffalo Bill's Resort & Casino, Primm Valley Resort & Casino, Whiskey Pete's Hotel & Casino, Primm Valley Golf Club and three gas stations, including Primm Center, which opened in December 2001 (collectively, the Primm Valley Resorts), form a major destination location and offer the first opportunity to wager upon entering Nevada and the last opportunity before leaving.

The Golden Nugget is the Company's largest, in terms of number of guestrooms. The Golden Nugget, together with its parking facilities, occupies approximately seven and one-half acres and is located approximately five miles north of The Mirage.

The Golden Nugget-Laughlin is located on approximately 13 acres with 600 feet of Colorado River frontage near the center of the tourist strip in Laughlin, Nevada, 90 miles south of Las Vegas. The Golden Nugget-Laughlin features a 32,000-square foot casino, 300 hotel rooms, four restaurants, three bars, a nightclub, a deli, an ice cream parlor and two gift and retail shops.

Monte Carlo Resort & Casino is located on approximately 46 acres with 600 feet of frontage on the Las Vegas Strip, approximately one-half mile south of Bellagio. The Company owns 50% of this resort in a joint venture with Mandalay Resort Group, which manages the resort. Monte Carlo is connected to Bellagio by a monorail.

Boardwalk Hotel and Casino is located between Bellagio and Monte Carlo on the Las Vegas Strip. This facility includes 654 hotel rooms and 32,000 square feet of casino space. Other amenities at the Boardwalk include an entertainment lounge, two bars, a gift shop, 7,300 square feet of interior meeting space, two outdoor swimming pools and 1,125 garage and surface parking spaces.

MGM Grand Detroit is the Company's interim casino facility in Detroit, Michigan opened on July 29, 1999. The site is located off the Howard Street exit from the John C. Lodge Expressway in downtown Detroit, and has parking for approximately 3,083 vehicles in two parking garages and additional on-site covered parking.

Beau Rivage is a luxurious beachfront resort located on a 41-acre site with 1,400 feet of frontage where Interstate 110 meets the Gulf Coast in Biloxi, Mississippi. Aside from its 12 distinctive restaurants, Beau Rivage offers a convention center, a shopping esplanade and a 1,600-seat theater. Adjoining the hotel is a deluxe marina capable of accommodating yachts of up to 125 feet in length.

MGM Grand Australia is located on 18 acres of beachfront property in Darwin, Northern Territory, Australia. The resort includes a public and private casino, 96 rooms, restaurants and other facilities. The Company has positioned MGM Grand Australia as a multi-faceted gaming and entertainment facility for the local market and, to a lesser extent, as an exclusive destination resort for international table game customers.

MGM Grand South Africa manages three permanent casinos and one interim casino in the Republic of South Africa. On July 30, 1996, the Company entered into an agreement with Tsogo Sun Holdings (Pty) Limited, a joint venture company formed by the Southern Sun Group and Tsogo Investment Holding Company (Pty) Limited, to act as the exclusive casino project developer and manager for the joint venture company, which contemplated applying for up to 15 casino licenses in the Republic of South Africa. The Company has entered into an agreement to sell all of its operations in South Africa. The transaction, which is subject to regulatory approval, is expected to be completed in the second quarter of 2002.

The Company owns and operates an exclusive world-class golf course known as Shadow Creek, located approximately five miles north of downtown Las Vegas and approximately ten miles north of its Las Vegas Strip hotel-casinos. The Company also owns and operates the Primm Valley Golf Club, located four miles south of Primm in California, which includes two 18-hole championship courses.

In September 2001, the Company was awarded one of three Internet gaming licenses by the Isle of Man, an independently governed British Crown dependency located in the Irish Sea off the coast of Great Britain. The Isle of Man Government has authorized up to a total of 12 online gambling licenses, and on January 30, 2002, the Isle of Man Government announced the awarding of two additional online gambling licenses, bringing the total number issued to date to five. The Company is in the process of developing its online gaming site, which will accept wagers only from legal bettors residing in non-United States jurisdictions in which online gaming is legal. The Company anticipates that the online gaming site will be operational within the next year.

 

 

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.

IGHRM Main Page

1999-2001 International Guild of Hospitality and Restaurant Managers Inc. All rights reserved.    
ighrm@hospitalityguild.com