MGM MIRAGE completed its $7.9 billion acquisition of Mandalay Resort Group, a development that chairman and CEO Terry Lanni termed a “historic moment.”
“The combination of MGM Mirage and Mandalay Resort Group creates the world’s leading gaming, entertainment and leisure company,” he said.
MGM will now have control of about half of the hotel rooms on the strip. The acquisition makes it the largest gaming company in the world.
“Acquiring the 16 properties controlled by Mandalay Resort Group helps MGM position itself to become an entertainment conglomerate, not just a gaming company,” said Channel 8, Eyewitness News, adding:
“The company can offer convention space, concerts, event planning, attractions and, of course, gambling.”
MGM Mirage now owns and operates 24 hotel and casino properties in Nevada, Michigan and Mississippi.
Said Mr Lanni:
“In representing all segments of the resort and gaming industry, we are better able to…strategically realize revenue growth. As we do so, we will reach new milestones in our industry-leading diversity initiatives while at the same time continue to make a positive impact on the communities we serve.”
Report by David Wilkening
