POST YOUR JOB ONLINE
Free ezine/digital edition sign up
Jobs . News . Features . Products . Magazine . Handbook . Contact us  
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
New attractions drive profits as Universal reports strong Q1
Continued impressive results from Universal's theme park division has fueled strong revenue's for Comcast's first quarter, with theme park revenues increasing by 14.5 per cent.
Three more theme parks for China as Six Flags enjoys record start to 2018
Off the back of a record financial start to the year, Six Flags has announced plans to develop three more theme parks in China as the operator continues to ride the international wave of momentum it has created.
Unesco mobilises academics to promote heritage protection in Africa
Unesco's World Heritage Centre will this week be hosting a heritage workshop as part of its mandate to promote culture and education in Africa.
Cream of tourism crop revealed with VisitEngland's latest Awards for Excellence
VisitEngland has named the best Britain's tourism industry has to offer, announcing the winners its annual Awards for Excellence.
+ More news   
LATEST JOBS
Guest Experience Manager
SnowDome
Salary: Circa £30,000
Job location: Tamworth, UK
Games & Wristbands Manager
West Midland Safari and Leisure Park
Salary: £22,000 - £25,000
Job location: Worcs, UK
Senior Bowling Technician
NAMCO UK Ltd
Salary: Competitive Salary & Benefits
Job location: Manchester, UK
Food and Beverage Manager
NAMCO UK Ltd
Salary: Circa £23,000
Job location: Manchester, UK
Performance Assistant Team Leader
Hamburg Dungeon
Salary: Competitive Salary & Benefits
Job location: Hamburg, Germany
Retail, Admissions & Membership Manager
The Wildfowl and Wetlands Trust
Salary: £33,065
Job location: London, UK
+ More jobs  

COMPANY PROFILE
DJW

David and Lynn Willrich started the company over 30 years ago from the AV department of the [more...]
+ More profiles  
FEATURED SUPPLIER

Holovis puts riders at the heart of the Wicker Man with immersive storytelling
Following its public opening last week, Holovis' Peter Cliff has revealed details of the company's involvement on the new Wicker Man coaster at Alton Towers. [more...]
VIDEO GALLERY

Polin Waterparks & Pool Systems - Experience the experience
Have you ever wondered how the fun is created? Polin Waterparks is a global market leader in the design, manufacture and installation of waterparks and water play attractions. Find out more...
More videos:
Simworx - The power to move you… – Simworx
Birds of a Feather 4D Trailer – nWave Pictures
ParadropVR by Frontgrid – Frontgrid
+ More videos  

CATALOGUE GALLERY
 

+ More catalogues  
ATTRACTIONS DIRECTORY
+ More directory  
ATTRACTIONS DIARY

22-25 Apr 2018

Arabian Travel Market

Dubai International Convention and Exhibition Centre, Dubai, United Arab Emirates
06-09 May 2018

American Alliance of Museums: Annual Meeting & MuseumExpo

Phoenix Convention Center and Venues, Phoenix, United States
+ More diary  
LATEST ISSUES
+ View Magazine Archive

Attractions Management

2018 issue 1


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2017 issue 4


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2017 issue 3


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2017 issue 2


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management News

18 Apr 2018 issue 102


View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Handbook

2018


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription
 
ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
 
ATTRACTIONS MANAGEMENT
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS
ADVERTISE . CONTACT US

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

©Cybertrek 2018
Jobs . News . Products . Magazine
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
New attractions drive profits as Universal reports strong Q1
Continued impressive results from Universal's theme park division has fueled strong revenue's for Comcast's first quarter, with theme park revenues increasing by 14.5 per cent.
Three more theme parks for China as Six Flags enjoys record start to 2018
Off the back of a record financial start to the year, Six Flags has announced plans to develop three more theme parks in China as the operator continues to ride the international wave of momentum it has created.
Unesco mobilises academics to promote heritage protection in Africa
Unesco's World Heritage Centre will this week be hosting a heritage workshop as part of its mandate to promote culture and education in Africa.
Cream of tourism crop revealed with VisitEngland's latest Awards for Excellence
VisitEngland has named the best Britain's tourism industry has to offer, announcing the winners its annual Awards for Excellence.
+ More news   
LATEST JOBS
Guest Experience Manager
SnowDome
Salary: Circa £30,000
Job location: Tamworth, UK
Games & Wristbands Manager
West Midland Safari and Leisure Park
Salary: £22,000 - £25,000
Job location: Worcs, UK
Senior Bowling Technician
NAMCO UK Ltd
Salary: Competitive Salary & Benefits
Job location: Manchester, UK
Food and Beverage Manager
NAMCO UK Ltd
Salary: Circa £23,000
Job location: Manchester, UK
Performance Assistant Team Leader
Hamburg Dungeon
Salary: Competitive Salary & Benefits
Job location: Hamburg, Germany
Retail, Admissions & Membership Manager
The Wildfowl and Wetlands Trust
Salary: £33,065
Job location: London, UK
+ More jobs  
 


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 NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS