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Mgm Resort International

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COMPANY OVERVIEW
MGM Resorts International is a Paradise, Nevada based corporation that brands itself as a global hospitality company. It is the second largest gaming company in the world by revenue - about US$6 billion in 2009. It owns and operates 15 properties in Nevada, Mississippi and Michigan, and has 50% investments in four other properties in Nevada, Illinois and Macau, China.
The company began as MGM Mirage on May 31, 2000, with the merger of MGM Grand Inc. and Mirage Resorts Inc. In the mid-2000s, growth of its non-gaming (lodging, food, retail) revenue began to outpace gaming receipts and demand for high-rise condominiums was surging, with median property prices in Las Vegas twice the national average. The company shifted its …show more content…

Mirage Resorts was first licensed by the Nevada Gaming Commission in 1946 under the name, Golden Nugget, and later adopted its present name in 1991. At the time of the merger, it was the oldest established gaming company in the state. Mirage Resorts' holdings included: Bellagio, the Mirage, Treasure Island and the Golden Nugget in Las Vegas; the Golden Nugget in Laughlin, Nevada; and Beau Rivage in Biloxi, Mississippi.
MGM Grand owned and operated the MGM Grand Hotel and Casino in Las Vegas, Nevada. The hotel commenced operations in 1993 and was billed as the largest hotel and casino in the world. MGM Grand also owned New York New York Hotel and Casino in Las Vegas; Whiskey Pete's Buffalo Bill's and the Primm Valley Resort in Primm, Nevada; the MGM Grand Detroit Casino; the MGM Grand Hotel and Casino in Darwin, Australia. MGM Grand also managed casinos in Nelspruit, Witbank and Johannesburg, Republic of South Africa.
MGM Grand and Mirage Resorts merged together in 2000. In 2004, the company sold a hotel and casino located in Darwin, Australia to SKYCITY Entertainment Group.
In 2005, the Nevada Gaming Commission unanimously approved the merger between MGM Mirage and Mandalay Resort Group. During the same year, the company acquired Mandalay Resort Group for $7,900 million.
In the following year, MGM Mirage started work on CityCenter, a $7,000 million project

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