MGM MIRAGE Withdraws Proposal To Acquire Emerald Casino

MGM MIRAGE (NYSE: MGG)
announced today that it has withdrawn its proposal to acquire Emerald Casino.
An MGM MIRAGE spokesperson said:  “The action of the Illinois legislature to
increase the gaming tax to as much as 50% makes our proposal to acquire
Emerald Casino uneconomic.  We believe that our development efforts should
focus on jurisdictions which offer a stable and reasonable tax environment.”


MGM MIRAGE is an entertainment, hotel and gaming company headquartered in
Las Vegas, Nevada, which owns and/or operates through subsidiaries 15 casino
properties.  Its U.S. holdings include:  Bellagio, the MGM Grand Hotel and
Casino - The City of Entertainment, The Mirage, Treasure Island, New York -
New York Hotel and Casino, the Boardwalk Hotel and Casino and 50% of Monte
Carlo, all located on the Las Vegas Strip; the Golden Nugget in Downtown Las
Vegas; Whiskey Pete`s, Buffalo Bill`s, the Primm Valley Resort and two
championship golf courses at the California/Nevada state line; the exclusive
Shadow Creek golf course in North Las Vegas; the Golden Nugget in Laughlin,
Nevada; the Beau Rivage resort on the Mississippi Gulf Coast; and the MGM
Grand Detroit Casino in Detroit, Michigan.  The Company is a joint venture
partner on Borgata at Renaissance Pointe, a resort under development in
Atlantic City, New Jersey and also controls several development sites in the
ocean-front resort community.  Internationally, MGM MIRAGE owns and operates
the MGM Grand Hotel and Casino in Darwin, Australia.

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