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Select Hotel Casinos Owned By MGM MIRAGE To Be Sold To Group


MGM MIRAGE (NYSE: MGM) announced today that it has entered into an agreement to sell its Colorado Belle and Edgewater hotel-casinos located in Laughlin, Nevada, to a group led by Anthony Marnell III for $200 million. The transaction is subject to customary closing conditions contained in the purchase agreement, including receipt of all necessary regulatory and governmental approvals. Both parties anticipate the transaction to be completed by the second quarter of 2007.

Upon successful completion of the transaction, MGM MIRAGE expects to report a substantial gain. MGM MIRAGE acquired these properties in April 2005 as part of its acquisition of Mandalay Resort Group. On a combined basis, these two properties feature 2,535 guest rooms, 138,000 square feet of casino space, 2,224 slot machines and 72 gaming tables on a combined 57 acres of land along the Colorado River.

Anthony Marnell III is the Chairman and CEO of M Resorts. Marnell and his management team are partnered with Sher Gaming, LLC,

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If Internet gambling is illegal, why do I see it all over the Internet?

Yes, because a European wheel only has one zero that you can land on where an American wheel has two.
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Definition:Single or banded tickets or cards each with its face covered to conceal one or more numbers or symbols, where one or more card or ticket in each set has been designated in advance as a winner.

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