Two Way Hard Three | Las Vegas Casino & Design Blog

February 22, 2005

MGM MIRAGE Outlines Structure of Combined Company

Posted by Hunter

In their first Nevada Gaming Control Board meeting on the proposed merger with Mandalay Resort Group, MGM MIRAGE outlined to regulators how the new company would be structured.

Since the acquisition of Mirage Resorts in 2000, each company owned resort has been owned and operated by LLCs that are in turn owned by one of two operating divisions, MGM Grand Resorts and Mirage Resorts.

As of today, MGM Grand Resorts consists of the resorts in Primm, NV, MGM Grand, New York New York and MGM Grand Detroit while Mirage Resorts includes Bellagio, The Mirage, Treasure Island, 50% of Monte Carlo and Beau Rivage in Mississippi.

Once the merger is complete, the company plans to structure management as follows:

MGM Grand Resorts: MGM Grand, Luxor, Mandalay Bay, Excalibur, Primm Valley, Jean resorts, MRG's Laughlin properties, and whichever Detroit casino isn't sold.

Mirage Resorts will include Bellagio, The Mirage, Treasure Island, Circus Circus, Circus Circus Reno, Monte Carlo, New York New York and the announced Project CityCenter.

John Redmond is the president and CEO of MGM Grand Resorts and Bobby Baldwin is at the head at Mirage, both reporting to MGM MIRAGE Chairman and CEO Terri Lanni.

Still to come are the rumors about shifts at individual properties, especially Bellagio, Mandalay Bay, The Mirage and Treasure Island.