MGM Resorts International Company History
MGM RESORTS INTERNATIONAL
MGM MIRAGE was formed when MGM Grand, Inc. acquired Mirage Resorts, Inc. on May 31, 2000, in what was, at that time, the largest transaction of its kind in the gaming industry, valued at $6.4 billion. MGM MIRAGE acquired Mandalay Resort Group in March 2005 for $7.9 billion and retained the MGM MIRAGE name until 2010, when the Company was renamed MGM Resorts International.
Prior to the Mirage Resorts acquisition, MGM Grand, Inc. owned and operated the MGM Grand Hotel and Casino in Las Vegas, Nevada. The hotel commenced operations December 18, 1993 and was billed as the largest hotel and casino in the world. The Company 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; MGM Grand Detroit Casino; MGM Grand Australia in Darwin, Australia; and also managed casinos in Nelspruit, Witbank and Johannesburg, Republic of South Africa. The Company sold its South African interests in 2002, its Darwin resort in 2004, and its Primm Resorts in 2007.
Through predecessor companies, MGM Grand developed and built some of the largest and most elaborate hotels and casinos of their time dating back to the late 1960s. Those resorts included the International Hotel (sold to Hilton in 1971 and now known as the Las Vegas Hilton) and the original MGM Grand in Las Vegas, and the MGM Grand in Reno (both sold to Bally’s in 1986).
Mirage Resorts, Inc. had a history of developing some of the world’s most successful and acclaimed resort properties. Mirage Resorts was first licensed by the Nevada Gaming Commission in 1946 under the name “Golden Nugget, Inc.” and in 1991 adopted the Mirage Resorts name. At the time of the merger with MGM Grand, Inc., it was the oldest established gaming company in the state and its holdings included Bellagio, The Mirage, Treasure Island (TI) and Golden Nugget in Las Vegas; Monte Carlo, a joint venture with Mandalay Resort Group; the Golden Nugget in Laughlin, Nevada; Beau Rivage in Biloxi, Mississippi; and Borgata, a joint venture with Boyd Gaming Corp. MGM MIRAGE sold Golden Nugget in Las Vegas and Golden Nugget in Laughlin in 2004. MGM MIRAGE sold Treasure Island in 2009.
Mandalay Resort Group was a leading owner and operator of world-class entertainment destinations in Las Vegas and other key regions of the United States. Founded in 1968 as Circus Circus Enterprises, Inc., the company owned 15 resorts nationwide plus 50 percent of Monte Carlo Hotel & Casino on the Las Vegas Strip when it merged with MGM MIRAGE. The diverse mix of properties included Mandalay Bay Resort & Casino, Luxor, Excalibur, Circus Circus and Slots-A-Fun in Las Vegas; Circus Circus Reno; Colorado Belle and Edgewater in Laughlin; Gold Strike and Nevada Landing in Jean and Railroad Pass in Henderson, and Gold Strike, a hotel/casino in Tunica County, Mississippi.
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