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International Guild of Hospitality & Restaurant Managers
MGM MIRAGE (MGG)
MGM MIRAGE, formerly
known as MGM Grand, Inc., and organized as a corporation on
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
MGM Grand
The Mirage is a luxurious, tropically themed destination resort located on
approximately 100 acres with 2,200 feet of frontage shared with
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.
© 1999-2001 International Guild of Hospitality and Restaurant Managers
Inc. All rights reserved.
ighrm@hospitalityguild.com