Date: April 27, 2005
MGM SWALLOWS MANDALAY IN MEGA-DEAL
MGM MIRAGE (NYSE: MGG) completed its $7.9 billion acquisition of Mandalay Resort Group (NYSE: MBG) on April 25. “The combination of MGM MIRAGE and Mandalay Resort Group creates the world's leading gaming, entertainment and leisure company,” said Terry Lanni, chairman and CEO of MGM Mirage. Immediately prior to the completion of the acquisition, Mandalay closed on the previously announced sale of its 53.5% interest in the MotorCity Casino in Detroit, Mich., for approximately $525 million and placed into escrow Mandalay's 50% interest in the Grand Victoria riverboat casino in Elgin, Ill. MGM MIRAGE now owns and operates 24 hotel and casino properties in Nevada, Mississippi and Michigan and has investments in three other properties in Nevada, New Jersey and the United Kingdom. This means it will also control two of the major arenas in Las Vegas, the 17,157-seat MGM Grand Garden and 12,000-seat Mandalay Bay Entertainment Center (see lead story in this e-newsletter). The company has more than 70,000 employees and pro forma revenues of more than $7 billion.
Contact: Alan M. Feldman, (702) 891-7147
SMG LAUNCHES CUSTOM AND PROPRIETARY SMGBOOKING.COM
SMG has launched a proprietary web-based booking system, SMGBooking.com, according to Wes Westley, SMG president. SMG facility managers will be able to manage their building schedules in an interactive on-line environment, at the same time allowing SMG's Sports & Entertainment Division and entertainment promoters enhanced access to real-time booking availability for all SMG-managed arenas and theaters. SMGBooking.com was developed by EventsBooking.com and SMG's Corporate I.S. department. Implementation of the SMGBooking.com will be completed May 1. “We talked to our major clients such as CAA, William Morris, tour managers and family show producers, and designed this proprietary booking system with them in mind,” said Mike Evans, SMG's senior vice president of Sports & Entertainment. A key element of this new program and system is to provide easy access for entertainment clients to see what is available at the SMG-managed venues, based upon a number of demographic elements such as region, venue size and venue type. SMGBooking.com has been beta tested for the past few months at the Jacksonville Veterans Arena, Oakland Arena and the Wachovia Arena at Casey Plaza.
Contact: James T. Graham, (215) 592-6655
MOTHER'S DAY PROMOTIONS SET AT CONSTANT CENTER
The Sarah McLachlan concert at the Constant Center, Norfolk, Va., May 11 features two special Mother's Day packages. “A Mother's Evening of Pampering” in partnership with Visions Hair Studio and Day Spa includes hair, make-up, chair massages, hand treatments, complimentary spa products and consultations from 5-7 p.m. at the arena prior to the concert. Light appetizers and beverages are included. The cost is $99.99, including one club level concert ticket. Additional tickets are $57.75 for the concert only. Another Mother's Day package is available in partnership with The New Leaf and Willows Fine Flowers and Gifts. It includes two concourse level tickets, one Sarah McLachlan “Afterglow” CD, and a Mother's Day bouquet to be delivered May 7. The cost is $140. The promotions end May 6 and May 5 respectively.
Contact: Kristie Shields, (757) 683-6542
CELEBRITIES ARE BRINGING OUT THE BELTS
Celebrities from music, sports, film and television have donated their belts, most of them autographed and personalized, for a charity auction sponsored by Post Healthy Classic cereals to benefit America's Second Harvest and the Judd Family Food Basket. The auction is part of Post's “Cinch an Inch” healthy weight-loss campaign. It is taking place on www.charityfolks.com between April 25 and May 7. Fans bid on belts donated by Cameron Diaz, Donald Trump, Ellen DeGeneres, Britney Spears, Shaquille O'Neil and more. Naomi Judd is Post's “Cinch and Inch” spokesperson and she donated her belt as well, as have Rick Schroder, Andie McDowell, Blake Shelton, Dennis Hopper, Deanna Carter, Bill Engvall, Larry the Cable Guy, Miranda Lambert and Martina McBride.
Contact: Kathy Best, (615) 383-0412