MGM Mirage announced that the Nevada Gaming Commission unanimously approved the proposed merger between MGM Mirage and Mandalay Resort Group yesterday.
The transaction is subject to customary closing conditions and satisfaction of regulatory requirements in Illinois and Michigan. MGM Mirage anticipates the transaction will be completed in the first quarter of 2005.
"We are very pleased with the Commission's unanimous approval and we are working diligently to complete the remaining steps of the merger prior to the end of March," said Terry Lanni, Chairman and Chief Executive Officer of MGM Mirage.
A Reuters article says, "The combined company would operate such Las Vegas hotels and resorts as the Bellagio, the MGM Grand Las Vegas, Mandalay Bay, Luxor and Excalibur. It would operate about one-third of the casinos and one-half of the hotel rooms on the Las Vegas Strip"
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