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19/7/2004 20:11
usa689
N° messaggi: 34 -
Iscritto da: 22/6/2004
They have to consolidate, more and more places are legalizing gambling and with the introduction of online gambling its providing massize competition. If they don't do something fast, they will become nothing more than a tourist attraction, which won't provide the millions in revenues that hardcore gambling does.
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2 di 3
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23/7/2004 15:00
localyokel
N° messaggi: 55 -
Iscritto da: 04/3/2004
MGM MIRAGE (NYSE:MGG) announced
today that it has completed the previously announced sale of its hotel and
casino located in Darwin, Australia to SKYCITY Entertainment Group Limited for
A$195 million (approximately US$140 million based on current exchange rates)
plus certain working capital adjustments. As a result of this transaction, the
company expects to report an after-tax gain from discontinued operations of
approximately $50 million in the third quarter.
"We are extremely proud of the accomplishments made by our employees in making
this property one of the most successful casinos in Australia. We wish the new
owners great success in the future," said James J. Murren, President, Chief
Financial Officer and Treasurer of MGM MIRAGE. "From an MGM MIRAGE
perspective, the proceeds from this transaction will enable us to deploy
capital on several high return growth initiatives."
MGM Grand Australia is located on 18 acres of beachfront property in Darwin,
Northern Territory, Australia. The property has approximately 23,800 square
feet of gaming space, 107 hotel rooms, 450 slot machines and 26 gaming tables.
SKYCITY Entertainment Group Limited is a gaming and entertainment company
headquartered in Auckland, New Zealand. The company owns and/or operates
gaming and entertainment complexes in New Zealand and Australia.
MGM MIRAGE (NYSE:MGG), one of the world's leading and most respected hotel and
gaming companies, owns and operates 11 casino resorts located in Nevada,
Mississippi, and Michigan, and has investments in two other casino resorts in
Nevada and New Jersey. The company is headquartered in Las Vegas, Nevada, and
offers an unmatched collection of casino resorts with a limitless range of
choices for guests. Guest satisfaction is paramount, and the company has
approximately 40,000 employees committed to that result. Its portfolio of
brands include AAA Five Diamond award-winner Bellagio, MGM Grand Las Vegas -
The City of Entertainment, The Mirage, Treasure Island ("TI"), New York - New
York, Boardwalk Hotel and Casino and 50 percent of Monte Carlo, all located on
the Las Vegas Strip; Whiskey Pete's, Buffalo Bill's, Primm Valley Resort and
two championship golf courses at the California/Nevada state line; the
exclusive Shadow Creek golf course in North Las Vegas; Beau Rivage on the
Mississippi Gulf Coast; and MGM Grand Detroit Casino in Detroit, Michigan. The
Company is a 50-percent owner of Borgata, a destination casino resort at
Renaissance Pointe in Atlantic City, New Jersey. Internationally, MGM MIRAGE
also owns a 25 percent interest in Triangle Casino, a local casino in Bristol,
United Kingdom. For more information about MGM MIRAGE, please visit the
company's website at ' target='window'>http://www.mgmmirage.com/.
www.mgmmirage.com 
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3 di 3
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26/7/2004 21:08
tackers
N° messaggi: 88 -
Iscritto da: 17/3/2004
There has not been a new casino built for quite a number of years now.
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Caratteristiche principali
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