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NEWS
MGM moves in on Vegas rival
POSTED 08 Jun 2004 . BY
Las Vegas-based casino operator, MGM Mirage, has made a $7.65bn offer for rival operator, Mandalay Resort Group.

MGM’s offer includes purchasing each Mandalay Resort share for $68 and the assumption of $2.8bn debt.

The deal represents a premium of 12.8 per cent for shareholders over Mandalay’s weekend closing share price of $60.27.

Terry Lanni, chair and CEO of MGM Mirage, said: “The combination of these two great companies would provide Mandalay shareholders with a premium price for their shares as well as providing several strategic benefits to shareholders in MGM Mirage.”

MGM – which operates the MGM, The Mirage, The Bellagio and Treasure Island casinos in Las Vegas – was recently involved in a bidding war for UK-based gaming group, Wembley, but withdrew its offer after being trumped for a second time by rival bidder, BLB Investors.

Mandalay Resorts operates the Las Vegas casinos, Mandalay Bay, Excalibur, Luxor and Circus Circus.

Should MGM’s offer be accepted, the enlarged group would most likely have to dispose of some of its casino assets to satisfy competition authorities.

MORE NEWS
Revealed: Opening date for Scotland's first design museum, created by Kengo Kuma
V&A Dundee, Scotland’s first design museum, will open to the public on Saturday 15 September 2018, it has been revealed.
Norwegian brewery partners with COBE to create Stavanger waterfront attraction
Danish architects COBE and Norwegian beer maker Lervig have unveiled plans for a major waterfront visitor centre and brewery in Stavanger, Norway.
Designs revealed for new aquatics centre on an artificial quay in Copenhagen’s harbour
Stunning designs have been revealed for Copenhagen's new Water Culture Centre, which will feature outdoor and indoor pools, waterfalls, harbour baths and sports facilities.
Bayeux Tapestry coming to Britain for first time in 950 years
The Bayeux Tapestry is set to be loaned to a British museum for the first time in nearly a millennium.
More news>
LATEST JOBS
Casino Manager
Landers Recruitment
Salary: £30,000
Location: Manchester, United Kingdom
Director of Operations
WWT
Salary: £78,000 p.a.
Location: Slimbridge, Gloucestershire, United Kingdom
Head of Product Excellence
Legoland
Salary: Competitive
Location: Winter Haven, FL, United States
Customer Insights and Analytics Manager
Merlin Entertainments Group
Salary: Competitive
Location: New York, NY, United States
General Manager
Sea Life
Salary: Competitive
Location: Concord, NC, United States
Duty Manager
Madame Tussauds
Salary: Competitive
Location: Washington, DC, United States



RECRUITING NOW
Merlin
Merlin Entertainments Plc

COMPANY PROFILES
SimEx-Iwerks Entertainment
SimEx Inc. is the parent company of SimEx-Iwerks Entertainment. Our main offices are located in Toronto, Los Angeles and Baltimore. [more...]
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AM2.jobs - Attractions Jobs & News
Attractions Management Magazine


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NEWS
MGM moves in on Vegas rival
POSTED 08 Jun 2004 . BY
Las Vegas-based casino operator, MGM Mirage, has made a $7.65bn offer for rival operator, Mandalay Resort Group.

MGM’s offer includes purchasing each Mandalay Resort share for $68 and the assumption of $2.8bn debt.

The deal represents a premium of 12.8 per cent for shareholders over Mandalay’s weekend closing share price of $60.27.

Terry Lanni, chair and CEO of MGM Mirage, said: “The combination of these two great companies would provide Mandalay shareholders with a premium price for their shares as well as providing several strategic benefits to shareholders in MGM Mirage.”

MGM – which operates the MGM, The Mirage, The Bellagio and Treasure Island casinos in Las Vegas – was recently involved in a bidding war for UK-based gaming group, Wembley, but withdrew its offer after being trumped for a second time by rival bidder, BLB Investors.

Mandalay Resorts operates the Las Vegas casinos, Mandalay Bay, Excalibur, Luxor and Circus Circus.

Should MGM’s offer be accepted, the enlarged group would most likely have to dispose of some of its casino assets to satisfy competition authorities.

MORE NEWS
Revealed: Opening date for Scotland's first design museum, created by Kengo Kuma
V&A Dundee, Scotland’s first design museum, will open to the public on Saturday 15 September 2018, it has been revealed.
Norwegian brewery partners with COBE to create Stavanger waterfront attraction
Danish architects COBE and Norwegian beer maker Lervig have unveiled plans for a major waterfront visitor centre and brewery in Stavanger, Norway.
Designs revealed for new aquatics centre on an artificial quay in Copenhagen’s harbour
Stunning designs have been revealed for Copenhagen's new Water Culture Centre, which will feature outdoor and indoor pools, waterfalls, harbour baths and sports facilities.
Bayeux Tapestry coming to Britain for first time in 950 years
The Bayeux Tapestry is set to be loaned to a British museum for the first time in nearly a millennium.
More news>
LATEST JOBS
Casino Manager
Landers Recruitment
Salary: £30,000
Location: Manchester, United Kingdom
Director of Operations
WWT
Salary: £78,000 p.a.
Location: Slimbridge, Gloucestershire, United Kingdom
Head of Product Excellence
Legoland
Salary: Competitive
Location: Winter Haven, FL, United States
Customer Insights and Analytics Manager
Merlin Entertainments Group
Salary: Competitive
Location: New York, NY, United States
General Manager
Sea Life
Salary: Competitive
Location: Concord, NC, United States
Duty Manager
Madame Tussauds
Salary: Competitive
Location: Washington, DC, United States



 
 
ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2018

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
 
ATTRACTIONS MANAGEMENT
AM2
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS

NEWS
MGM moves in on Vegas rival
POSTED 08 Jun 2004 . BY
Las Vegas-based casino operator, MGM Mirage, has made a $7.65bn offer for rival operator, Mandalay Resort Group.

MGM’s offer includes purchasing each Mandalay Resort share for $68 and the assumption of $2.8bn debt.

The deal represents a premium of 12.8 per cent for shareholders over Mandalay’s weekend closing share price of $60.27.

Terry Lanni, chair and CEO of MGM Mirage, said: “The combination of these two great companies would provide Mandalay shareholders with a premium price for their shares as well as providing several strategic benefits to shareholders in MGM Mirage.”

MGM – which operates the MGM, The Mirage, The Bellagio and Treasure Island casinos in Las Vegas – was recently involved in a bidding war for UK-based gaming group, Wembley, but withdrew its offer after being trumped for a second time by rival bidder, BLB Investors.

Mandalay Resorts operates the Las Vegas casinos, Mandalay Bay, Excalibur, Luxor and Circus Circus.

Should MGM’s offer be accepted, the enlarged group would most likely have to dispose of some of its casino assets to satisfy competition authorities.

 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2018

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS