MGM Mirage (NYSE: MGM) is a Las Vegas, Nevada-based business engaged in the development, ownership and operation of hotels and casinos throughout the world. The company began operations on May 31, 2000 after the completion of a merger of MGM Grand Inc. and Mirage Resorts, Inc. It is currently the second largest gaming company in the world. Kirk Kerkorian and his Tracinda Corporation were, until May, 2009, the majority shareholders of MGM Mirage, ...
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MGM Mirage (NYSE: MGM) is a Las Vegas, Nevada-based business engaged in the development, ownership and operation of hotels and casinos throughout the world. The company began operations on May 31, 2000 after the completion of a merger of MGM Grand Inc. and Mirage Resorts, Inc. It is currently the second largest gaming company in the world. Kirk Kerkorian and his Tracinda Corporation were, until May, 2009, the majority shareholders of MGM Mirage, but following a $1 billion dollar stock offering by MGM Mirage their shares ended up being diluted and as a result their holdings were reduced from 53.8 percent to 39 percent. Even after pledging to purchase 10 percent of the new offering they remain a minority stakeholder. Kerkorian was also the former owner of the Metro-Goldwyn-Mayer movie studio, from which the predecessor corporation MGM Grand, Inc. derived its name.
As of 2005, the company owns 831 acres (336 ha) of property on the Las Vegas Strip. Its yearly revenue is around $7.4...
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