Mgm Mirage News
MGM MIRAGE shareholders approve name change to MGM Resorts International
MGM MIRAGE shareholders today approved at their annual meeting a proposal to rebrand the iconic hospitality leader “MGM Resorts International.
MGM Mirage launches Vegas first augmented reality iPhone app
Continuing its legacy of innovation, MGM MIRAGE (NYSE:MGM; www.mgmmirage.com) has launched five free iPhone apps delivering new ways to explore Las Vegas hotels and attractions. The applications are available through iTunes.
MGM MIRAGE Closes $845 Million Senior Secured Notes Offering
MGM MIRAGE announced yesterday that it closed the private offering of $845 million of its 9% senior secured notes due March 2020. The notes were issued at par with a four-year no call feature.
MGM MIRAGE Enters Into Settlement Agreement in New Jersey
MGM MIRAGE (NYSE: MGM) today announced that it has entered into a settlement agreement with the New Jersey Division of Gaming Enforcement (DGE) under which it will sell its 50% ownership interest in the Borgata Hotel Casino & Spa and related leased land in Atlantic City.
MGM MIRAGE Announces Proposed Private Offering
MGM MIRAGE today announced that it proposes to offer up to $845 million in aggregate principal amount of senior secured notes due 2020 in a private placement. The Company plans to use the net proceeds from the offering to repay a portion of the outstanding indebtedness under its senior credit facility and related fees and expenses.
MGM MIRAGE Announces Successful Amendment and Extension Transaction
MGM MIRAGE today announced that lenders representing approximately $4.37 billion of the outstanding commitments under its $5.55 billion senior bank credit facility have entered into an amendment agreement (the “Amendment”) which, subject to certain conditions, will extend the maturity of a portion of the credit facility from October 3, 2011 to February 21, 2014.
MGM MIRAGE Broadens Loyalty Programs with New Partnership
MGM MIRAGE (NYSE: MGM) has partnered with ESS Analysis, a Boston-based advanced analytics-focused consulting firm, and A.T. Kearney, a global management consulting firm, to take customer database “mining” capabilities to a new level and further enhance guest loyalty programs.
MGM Mirage Pursuing Hong Kong IPO
MGM Mirage is pursuing an initial public offering in Hong Kong that could generate between US$300 million and US$500 million from the sale of a 20% to 30% stake. A launch date for the IPO has not yet been set.
MGM MIRAGE teams up with Dubai World
MGM MIRAGE and Dubai World have signed definitive agreements to form a long-term strategic relationship whereby Dubai World will invest approximately $5 billion in MGM MIRAGE consisting of a $2.7 billion investment in CityCenter and up to $2.4 billion in purchases of MGM MIRAGE common stock.