October 31, 2001 |
MGM Mirage Inc., the largest hotel-casino owner in Las Vegas, is blaming the Sept. 11 terrorist attacks for a sharp drop in third-quarter earnings, but said it expects a rebound in the fourth quarter. The company posted a loss of $14.4million, or 9 cents a share, contrasted with earnings of $67.4million, or 42 cents, a year ago. Revenue fell 5.3% to $992.9 million in the quarter from $1.05 billion a year ago.
March 12, 2005 |
MGM Mirage Inc. revised its fourth-quarter net income to 52 cents a share from 47 cents after gaining state tax refunds for the Borgata hotel and casino in Atlantic City, N.J. The tax credits increased net income 10% to $74.9 million, the Las Vegas-based company said in a regulatory filing. MGM Mirage said last month that profit fell 26% to $67.9 million, but the company beat analysts' expectations as gambling and entertainment revenue from its Las Vegas properties boosted results.
CALIFORNIA | LOCAL
April 16, 2007 |
James Aljian, 75, a Tracinda Corp. executive and MGM Mirage board member, died Thursday of cancer at a hospital in Los Angeles, according to a statement issued by MGM Mirage Inc., where Aljian had served on the board of directors since 1988. He was part of a team that developed several major Las Vegas casinos, including Caesars Palace, the Flamingo Hotel, the International Hotel -- now the Las Vegas Hilton -- and the first MGM Grand Hotel, the statement said.
February 2, 2005 |
MGM Mirage Inc. reported a more than 25% drop in fourth-quarter earnings Tuesday but still beat analyst expectations thanks to increased gambling at the company's Las Vegas Strip properties. For the three months ended Dec. 31, the gambling giant earned $67.9 million, or 47 cents a share, down from $91.7 million, or 62 cents, a year earlier.
July 31, 2001 |
MGM Mirage Inc., the casino company controlled by billionaire Kirk Kerkorian, is in talks to acquire a company that is developing a casino in the Chicago area. MGM Mirage said in a Securities and Exchange Commission filing last week that it began a 30-day period of exclusive talks to buy Emerald Casino Inc., based in Rosemont, Ill.
December 16, 2008 |
Casino operator MGM Mirage Inc. is selling the Treasure Island Hotel & Casino on the Las Vegas Strip to billionaire Phil Ruffin for $500 million, the company said Monday. Ruffin, whose interests include casinos and greyhound race tracks, purchased the property through Ruffin Acquisition for $500 million cash and $275 million in secured notes issued by Ruffin Acquisition and secured by Treasure Island's assets, MGM Mirage said. The combined value of the deal, including debt, is $775 million.