394:, announced a bid to acquire it for $ 68 per share plus assumption of debt. The stock closed at $ 60.27 per share on June 4. Although the proposal was announced after the close of trading on June 4, the volume of trading in Mandalay Resort Group stock on that day was quadruple the normal, with the stock closing at $ 60.27 per share. The ensuing negotiations between the two companies included at one point an announcement that the Mandalay board was rejecting the offer because of antitrust concerns. On June 15, 2004, however, both companies' boards approved a revised offer of $ 71 per share. The agreement called for MGM Mirage to pay $ 4.8 billion and to assume $ 2.5 billion in debt. The transaction was completed on April 26, 2005 for $ 7.9 billion.
1391:
231:
The company went public in 1983 and traded on the New York Stock
Exchange. The company's properties found success in the 1980s offering a Las Vegas experience to families subsequently experimented upon by its competitors. Its converted Circus Circus (originally developed for the upmarket) and later
397:
MGM executives were confident that antitrust regulators would not require the sale of any of the two companies' properties. Michigan law, however, forbade one company from owning multiple casinos, requiring the sale of either the MGM Grand
Detroit or Mandalay's 54% stake in the
342:
1996 telecast. Despite the implosion, parts of the old resort still stood, due to the building not falling into its footprint, but toppling into its parking lot. The next day a wrecking crew was brought in to bring down the remaining parts. In March 1999, it was replaced by the
802:
382:
On May 23, 2002, the
Mandalay Resort Group announced a second 1,122-room hotel tower at their Mandalay Bay property, with a cost of at least $ 200 million. Construction began on the tower in September 2002. The name of the tower,
204:
The company incorporated as Circus Circus
Enterprises (CCE) in 1974 to purchase Circus Circus from Sarno at a time when the casino was experiencing financial difficulties. The original majority owners of CCE were
334:, which had just been recently completed. On December 10, 1996, the Hacienda was closed to the public after 40 years, and imploded later that month. This implosion was broadcast on the
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Excalibur properties offered gaming opportunities for adults and separate non-gambling games and theme-park-style experiences for underage visitors under the same roof.
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and John Fulton for $ 4 million. The company planned to move the unprofitable
Colorado Belle to make room for an expansion of the Edgewater.
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277:. The $ 350 million hotel opened on July 28, 1995. Circus Circus Enterprises held a majority stake in that Reno resort.
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330:. By this time, the Hacienda was dwarfed by the many new megaresorts that were being built, in particular the
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and given a more upscale theme. The total cost for the remodel was estimated to be $ 125 million.
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On March 20, 1995, Circus Circus
Enterprises announced that it had agreed to acquire
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The company was originally known as Circus Circus
Enterprises and originated with
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Circus Circus Tunica opened on August 29, 1994. It was rebranded in 1997 as
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in 1979 for $ 30 million, then refurbished both the interior and exterior.
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in Reno to develop and build Reno's largest and tallest megaresort titled
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in 1999, the name of the company was changed to
Mandalay Resorts Group.
387:, was chosen in September 2003. The tower opened on December 17, 2003.
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912:"COMPANY NEWS; Circus Circus Agrees to Buy Gold Strike, Casino Owner"
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for $ 17 million. The next year, the company bought the neighboring
708:"The Burger King Revolution: How Las Vegas Bounced Back, 1983–1989"
1162:
269:
The group entered into a joint venture in 1993 with Don Carano of
142:
177:. In terms of market capitalization, it was one of the largest
1115:
319:, because the owners wanted to pass it on to their children.
291:, a closely held budget casino owner and operator based in
859:"Circus Circus buys casino from Gaming & Technology".
991:"Investors group sues Archon over stock redemption price"
390:
On June 4, 2004, one of
Mandalay's largest competitors,
830:"Advanced Patent starts hotel-casino construction".
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886:"Circus Circus Enterprises, Inc.--A Gaming Company"
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197:'s 1968 opening of the Circus Circus as well as a
213:, a former furniture salesman and the manager of
766:"Circus Circus purchases hotel, plans expansion"
181:operators in the world. Its stock traded on the
772:. February 13, 1983 – via Newspapers.com.
311:. The acquisition did not include the original
790:. January 13, 1983 – via Newspapers.com.
410:Hotels and casinos when acquired by MGM Mirage
1127:
854:
852:
784:"Circus Circus resort purchase plan approved"
8:
19:
1092:R.J. King; Joel J. Smith (March 16, 2005).
406:, the casino's second largest shareholder.
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1120:
1112:
1094:"Ilitch sews up deal for MotorCity Casino"
25:
18:
1446:Gambling companies disestablished in 2005
1431:Hospitality companies established in 1974
266:in 1999 for which the group was renamed.
220:Circus Circus Enterprises purchased the
185:with the ticker symbol "CIR" and "MBG".
1466:Gambling companies of the United States
1071:"MGM Mirage changes tactics in Detroit"
698:
1441:Gambling companies established in 1974
938:"Circus Circus to acquire Gold Strike"
361:Circus Circus Enterprises closed the
322:In 1995, Circus Circus purchased the
254:The group subsequently developed the
235:In 1983, Circus Circus purchased the
37:Circus Circus Enterprises (1974–1999)
7:
209:, a former oil lease speculator and
1461:Companies based in Paradise, Nevada
297:Gold Strike Hotel and Gambling Hall
687:List of defunct gambling companies
354:on the 1996 opening of the nearby
350:The group was also a partner with
307:and 50% of the under-construction
16:American hotel and casino operator
14:
1451:Defunct companies based in Nevada
1069:Howard Stutz (December 4, 2004).
1426:2005 disestablishments in Nevada
1389:
157:. Its major properties included
1046:Joel J. Smith (June 17, 2004).
1023:"MGM Mirage cites 'juggernaut'"
712:Gaming Law Review and Economics
613:(50% owner in partnership with
569:(50% owner in partnership with
301:Nevada Landing Hotel and Casino
201:in Reno, which opened in 1978.
1300:Mandalay Bay Convention Center
1102: – via Factiva
1079: – via Factiva
1056: – via Factiva
976: – via Factiva
942:Corporate Growth Report Weekly
803:"Making the games Vegas plays"
801:Riggs, Rod (August 25, 1985).
305:Railroad Pass Hotel and Casino
1:
1436:Hotels disestablished in 2005
1421:1974 establishments in Nevada
1048:"MotorCity Casino to be sold"
1021:Liz Benston (June 15, 2004).
910:JONES, KATHRYN (1995-03-21).
356:Monte Carlo Resort and Casino
309:Monte Carlo Resort and Casino
989:Stutz, Howard (2007-09-04).
944:. 1995-06-05. Archived from
888:. 2010-02-04. Archived from
743:. 2009-12-12. Archived from
368:Following the completion of
968:"Merger plan gets approval"
47:; 50 years ago
1487:
1456:Defunct gambling companies
1305:Mandalay Bay Events Center
966:Vogel, Ed (May 23, 1995).
706:David G. Schwartz (2010).
249:Advanced Patent Technology
237:Edgewater Hotel and Casino
1471:MGM Resorts International
1385:
173:, as well as half of the
139:Circus Circus Enterprises
24:
1075:Las Vegas Review-Journal
996:Las Vegas Review-Journal
972:Las Vegas Review-Journal
546:THEhotel at Mandalay Bay
385:THEhotel at Mandalay Bay
1104:(subscription required)
1081:(subscription required)
1058:(subscription required)
978:(subscription required)
874:(subscription required)
845:(subscription required)
819:(subscription required)
183:New York Stock Exchange
377:MotorCity Casino Hotel
375:On December 14, 1999,
91:; 19 years ago
1416:Mandalay Resort Group
1143:Mandalay Resort Group
863:. February 16, 1984.
737:"Question of the day"
365:on October 31, 1999.
135:Mandalay Resort Group
20:Mandalay Resort Group
1370:(joint venture with
1319:(joint venture with
1161:(joint venture with
1159:Grand Victoria Elgin
1001:Stephens Media Group
788:Reno Gazette-Journal
861:Wall Street Journal
834:. October 8, 1979.
832:Wall Street Journal
338:as a part of their
289:Gold Strike Resorts
89:April 26, 2005
21:
1200:Gold Strike Tunica
667:Silver City Casino
363:Silver City Casino
328:Archon Corporation
282:Gold Strike Tunica
226:Slots-A-Fun Casino
222:Silver City Casino
215:The Mint Las Vegas
207:William Pennington
149:operator based in
141:) was an American
80:William Pennington
1403:
1402:
1396:Hotels portal
1381:
1380:
1182:MotorCity Detroit
770:Los Angeles Times
741:Las Vegas Advisor
635:Former properties
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400:MotorCity Casino
262:in 1993 and the
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340:New Year's Eve
245:Colorado Belle
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404:Marian Ilitch
401:
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258:in 1990, the
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1142:
1098:Detroit News
1097:
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1052:Detroit News
1051:
1041:
1030:. Retrieved
1026:
1016:
1005:. Retrieved
1003:. p. 1D
994:
984:
971:
961:
950:. Retrieved
946:the original
941:
932:
921:. Retrieved
915:
905:
894:. Retrieved
890:the original
880:
860:
831:
825:
811:. Retrieved
806:
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787:
778:
769:
760:
749:. Retrieved
745:the original
740:
731:
720:. Retrieved
715:
711:
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533:Mandalay Bay
396:
389:
381:
374:
370:Mandalay Bay
367:
360:
349:
345:Mandalay Bay
321:
317:Boulder City
293:Jean, Nevada
286:
279:
268:
264:Mandalay Bay
253:
247:casino from
234:
230:
219:
203:
192:
159:Mandalay Bay
138:
134:
133:
115:Headquarters
107:Acquired by
1317:Monte Carlo
1278:Slots-A-Fun
1245:Gold Strike
1192:Mississippi
621:Slots-A-Fun
559:Monte Carlo
502:Mississippi
494:Gold Strike
481:Gold Strike
336:Fox Network
313:Gold Strike
175:Monte Carlo
1410:Categories
1321:MGM Mirage
1032:2013-04-21
1007:2007-09-04
952:2007-07-31
923:2007-07-31
896:2010-07-05
813:2012-06-26
751:2015-01-19
722:2016-03-18
693:References
671:Winchester
625:Winchester
571:MGM Mirage
420:Winchester
392:MGM Mirage
137:(formerly
109:MGM Mirage
96:2005-04-26
58:Winchester
1345:Edgewater
1285:Excalibur
1260:Las Vegas
1219:Henderson
869:397964596
840:134309172
654:MotorCity
594:Henderson
468:Excalibur
455:Edgewater
256:Excalibur
195:Jay Sarno
167:Excalibur
1332:Laughlin
1310:THEhotel
1174:Michigan
1151:Illinois
865:ProQuest
836:ProQuest
718:(4): 270
681:See also
662:Michigan
645:Paradise
641:Hacienda
563:Paradise
550:Paradise
537:Paradise
524:Paradise
515:Illinois
472:Paradise
459:Laughlin
446:Laughlin
379:opened.
324:Hacienda
271:Eldorado
217:casino.
151:Paradise
119:Paradise
72:Founders
34:Formerly
658:Detroit
189:History
94: (
86:Defunct
50: (
42:Founded
1210:Nevada
867:
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675:Nevada
649:Nevada
629:Nevada
611:Nevada
598:Nevada
585:Nevada
567:Nevada
554:Nevada
541:Nevada
528:Nevada
498:Tunica
489:Nevada
476:Nevada
463:Nevada
450:Nevada
437:Nevada
424:Nevada
179:casino
155:Nevada
147:casino
123:Nevada
62:Nevada
1290:Luxor
1163:Hyatt
520:Luxor
511:Elgin
332:Luxor
326:from
315:near
260:Luxor
163:Luxor
143:hotel
1355:Reno
1237:Jean
607:Reno
581:Jean
485:Jean
433:Reno
224:and
169:and
145:and
127:U.S.
104:Fate
66:U.S.
52:1974
45:1974
239:in
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