January 10, 2008
Casino resort operator MGM Mirage and government investment holding company Dubai World announced Wednesday they would launch a cash tender offer to repurchase up to 10 million MGM Mirage common shares for $75 to $80 each.
October 9, 2007 |
Dubai World's offer to buy 14.2 million shares of MGM Mirage, the world's second-largest casino company, expired with investors selling less than 3% of the stock the firm was seeking. The investment company, run by Dubai's government, said Monday that it would still buy 14.2 million MGM shares directly from the Las Vegas-based company at $84 each. The firm said last week that it might purchase more stock on the open market.
September 12, 2007 |
Dubai World, a holding company for the Persian Gulf state of Dubai, is taking a larger stake in casino projects on the Las Vegas Strip with partner MGM Mirage Inc., the companies said Tuesday. A subsidiary of Dubai World's investment arm, Istithmar Hotels FZE, will take a $300-million, 25% stake in a joint venture that MGM Mirage had announced in June with Kerzner International Holdings to develop a multibillion-dollar resort on the Strip, they said.
August 23, 2007 |
The Persian Gulf emirate of Dubai anted up Wednesday, announcing it would invest $5.1 billion in MGM Mirage for a 50% stake in the massive Las Vegas CityCenter project now in development and a 10% interest in the gaming company. The deal continues Dubai's investments in name-brand and hospitality destinations around the world, but also infuses Las Vegas-based MGM Mirage with cash to quickly pursue other projects without being laden with debt.
April 1, 2007 |
Invasor put to rest any doubts about who the best horse in the world is with a win Saturday in the $6-million Dubai World Cup at Nad al Sheba in the United Arab Emirates. The reigning horse of the year won for the 11th time in 12 starts, but the anticipated showdown between Invasor and the previously unbeaten Discreet Cat never materialized. Unchallenged in six previous starts, Discreet Cat did not show any speed out of the gate, raced in traffic and never threatened.
September 10, 2006 |
Dubai World Cup winner Electrocutionist died of an apparent heart attack Saturday, several days after an abnormality was detected in the 5-year-old horse's heart. Electrocutionist, considered a top contender for this year's Breeders' Cup Classic or Distaff, was owned by Dubai-based Godolphin Racing Inc. "He appeared to be responding well to treatment, but during the night he suffered what seems to have been a fatal heart attack," Godolphin racing manager Simon Crisford said. "It is terribly sad.
March 3, 2006 |
I'VE ALWAYS HATED suspense, so I was disappointed when the Bush administration announced a 45-day security review of Dubai Ports World, the United Arab Emirates-owned company to which the president plans to entrust the management of some major U.S. seaports. You heard right -- 45 days. In the Internet era, that's several lifetimes. So I decided to take matters into my own hands.
March 28, 2004 |
Medaglia d'Oro made up half the distance that cost him the Breeders' Cup Classic, but it still wasn't enough to derail Pleasantly Perfect in Saturday's $6-million Dubai World Cup. These two hard-knocking horses have run for $10 million the last two times they've met -- the Breeders' Cup was worth $4 million -- and Pleasantly Perfect is still on top. His winning margin Saturday was three-quarters of a length, after a 1 1/2-length win at Santa Anita in October.
March 23, 2000 |
The top four jockeys in the current standings at Santa Anita will ride in the $6-million Dubai World Cup on Saturday. The fourth running of the World Cup is the weakest in the history of the Grade I race, which will have an approximate post time of 9:30 a.m. PST. Fans will be able to bet on the race at Santa Anita. Four other stakes races from Dubai will be shown, beginning at 6:30 a.m., but no betting will be allowed on those contests.
March 29, 1999 |
He was upstaged by his stablemates and three American horses in most pre-race analyses, but Almutawakel was the fastest and grittiest on Sunday, holding off two United States-based challengers in the stretch to win the $5-million Dubai World Cup, the richest race ever run. Malek, who traveled to the Persian Gulf from Santa Anita, and Victory Gallop, who came from Florida, threatened but couldn't pass Almutawakel and jockey Richard Hills in the final strides.