MGM MIRAGE Announces Termination of Its Exchange Offer

LAS VEGAS, Oct. 1 /PRNewswire-FirstCall/ — MGM MIRAGE (NYSE: MGM) announced today that it has terminated its offer to eligible holders to exchange a portion of the $782 million in aggregate outstanding principal amount of the Company’s 8.50% Senior Notes due 2010 (the “Existing Notes”) for the Company’s 10.00% Senior Notes due 2016 (the “New Notes”). The exchange offer was subject to a minimum condition that no less than $25 million of New Notes must be issuable for Existing Notes vali
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Thu, October 1st, 2009

Gambling is Often Legalized to Promote Economic Development of Depressed Areas. That was an important motivation in Las Vegas, Atlantic City, New Jersey, and many of the other locales for casinos.
French mathematician Blaise Pascale is often credited with inventing the roulette wheel as a result of his experiments with perpetual motion machines.
1994: On New Year's Day Frank Sinatra gives his last Las Vegas performance at the MGM Grand.
1998: Opening of the Bellagio. With 3,026 rooms it is the largest hotel in the world, and also the most expensive - it cost $1.7 billion to build.
Lotteries, along with their close derivative bingo, are the most popular kinds of gambling. The popularity of lottery games is not limited to state-run lotteries. Indian tribes run lotteries and illegal lotteries still exist.

Gambling Information