DETROIT, Nov. 20 - Mayor Dennis Archer announced today that MGM Grand, Inc. (NYSE: MGG) has been chosen as a finalist for a development agreement to own and operate one of Detroit's three new casinos. 

MGM Grand proposed a more than $700 million hotel/casino and entertainment complex, with a pledge to expand the facilities and investment to $1 billion if demand warrants. "We're thrilled to have the opportunity to build the pre- eminent entertainment, gaming and hotel facility in the Midwest," said J. Terrence Lanni, chairman and chief executive officer of MGM Grand. "MGM Grand's gaming expertise, international marketing experience, relationships in the entertainment and sports industries, commitment to Detroit's business community and the depth of involvement from our local partners all add up to a winning proposal for the people of Detroit." 

The hotel/casino and entertainment complex is expected to employ more than 3,500 people with annual payroll and benefits projected to approximate $100 million. Lanni noted that MGM Grand is committed to hiring and 
training local residents, with an emphasis on hiring economically disadvantaged and unemployed workers. He pointed out that the company has already demonstrated this commitment at its Las Vegas properties. 

As a part of its proposal, MGM Grand Detroit will create a $50 million Business Development Fund to be used as a "capital pool" to fund under- capitalized and start-up Detroit minority- and women-owned businesses. The fund 
will help ensure that Detroit residents and businesses are the benefactors of the goods and services required by the industry and are participants in the renaissance of Detroit. 

"We're pleased to bring this world-class facility to our city," said business executive William F. Pickard, spokesperson for MGM Grand Detroit's co-owner, Partners Detroit, L.L.C., a group of local investment partners. 

"From thousands of new job and entrepreneurial opportunities to superstar entertainment, our proposal brings a whole package of benefits to the people of Detroit." 

The art-deco complex is designed to provide a diverse and complete entertainment district that will attract local, regional and international visitors to Detroit. In addition to a spacious 100,000-square-foot gaming area with 40-foot high ceilings, the complex plans include: 
 

• the Five Star MGM Grand Detroit, a 36-story, 800-room hotel designed to be the Midwest's premier resorthotel;
• diverse array of signature restaurant and retail facilities;
• state-of-the-art, five-screen cineplex movie theater;
• approximately 70,000-square-feet of convention, ballroom and meeting facilities;
• a 1,200 seat showroom theater; and
• a climate-controlled parking garage.

The elegant casino area will be complemented by a variety of premier dining facilities and some of the finest names from the retail industry. The MGM Grand and New York-New York hotel/casinos in Las Vegas both have a 
similar approach and include such well-known restaurants as the Motown Cafe, Wolfgang Puck Cafe, Mark Miller's Coyote Cafe and Grill Room and Emeril Lagasse's New Orleans Fish House. 

MGM Grand is recognized throughout the world as the leading name in gaming entertainment, bringing a stellar line-up of headline entertainers and sporting events through its doors every year. In Las Vegas, these headliner events have included Bette Midler, Elton John, Barbra Streisand, Neil Diamond and Whitney Houston. This fall's 
lineup alone includes The Rolling Stones, the artist formerly known as Prince, Fleetwood Mac and Jimmy Buffet, as well as the Bee Gees' only concert appearance anywhere in the world this year. In addition, more than 27 championship boxing matches have been hosted at the MGM Grand in Las Vegas, including the appearance of 
such legends as George Foreman, Evander Holyfield, Mike Tyson and Michael Moorer. 

Pickard, former chair of the Detroit Urban League Board of Directors, is one of ten local investors that make up Partners Detroit, L.L.C. The other investors are: 
-- Joseph Davis, director of the National United Auto Workers Civil Rights Department and national board 
member of the Southern Christian Leadership Conference 
-- Jane C. Garcia, community awareness specialist, U.S. Census Bureau and VP of United Way for Southeastern 
Michigan 
-- Anthony Gramer, president and CEO of Malan Realty Investors, Inc.; and major contributor, Helping Hands 
-- Dr. Arthur Johnson, retired Wayne State University vice president, former president of the Detroit NAACP and 
vice chairman of New Detroit, Inc. 
-- Dr. Edward Littlejohn, professor of law emeritus, Wayne State University Law School and former chairman of 
the Detroit Board of Ethics 
-- Roy S. Roberts, vice president and general manager, Pontiac-GMC division, General Motors Corporation; and 
board of directors, United Negro College Fund 
-- Myzell Sowell, senior partner, Sowell and Evelyn, attorneys at law; and life member, board of directors, NAACP 
-- Martha Jean Steinberg, "The Queen," nationally renowned in the radio industry and current owner, president 
and general manager of WQBH radio in Detroit; inducted into the Deejay's radio exhibit at the Rock and Roll Hall 
of Fame and Museum in Cleveland, Ohio; member of the Ecumenical Clergy Committee for the City of Detroit 
-- Dr. Lorna Thomas, dermatologist and medical staff member of the Detroit Medical Center; board of trustees, 
Detroit Receiving Hospital 

MGM Grand, Inc. is an entertainment, hotel and gaming company headquartered in Las Vegas, Nevada. In Las Vegas, the Company owns and operates the MGM Grand hotel/casino and owns a 50% interest in the New York- 
New York hotel/casino. It also owns and operates the MGM Grand hotel/casino in Darwin, Australia, and manages a casino in Nelspruit, South Africa. 

CONTACT:  
Alex Yemenidjian, president, COO CFO of MGM Grand, 702-891-3300, Jack Leone, 702-891-7235, or Bill Pickard, 248-258-6520, for MGM Grand, Inc. 
 

LAS VEGAS, Nov. 20 - Detroit Mayor Dennis Archer today announced his selection of the Circus Circus/Atwater Casino Group to proceed with negotiations of a development agreement to build a hotel/casino in downtown Detroit. 

"We are very pleased with our selection and commend the City of Detroit for an outstanding job performed bystaff to evaluate the proposals," said Glenn Schaeffer, president and chief financial officer of Circus Circus Enterprises, Inc. Subject to the successful negotiation of a development agreement with the city of Detroit, and receipt of other regulatory approvals, Circus/Atwater proposes to build an urban entertainment center in the central city. The project is proposed to include 801 rooms and suites, seven specialty restaurants, a 100,000 square foot casino, a full service spa and fitness center, a themed retail area and 75,000 square feet of meeting and convention space. 

The design of the project incorporates a number of existing and former Detroit architectural landmarks including elements of the Detroit Opera House, the Fisher Building, National Theater and City Hall. 
The project is expected to generate 3,800 permanent jobs for Detroit residents. "Detroit presents the most exciting and promising land-based opportunity for gaming development in many years," said Schaeffer. "We expect to complete a development agreement with the City of Detroit within the next 90 days," he added. Circus Circus and Atwater Casino Group formed a limited liability company, Detroit Entertainment L.L.C., to pursue this venture. Circus owns 45% of Detroit Entertainment while Atwater owns 55%. 

Circus Circus Enterprises, Inc., owns and operates 10 properties in Nevada: Circus Circus, Luxor, Excalibur and Slots-A-Fun in Las Vegas; Circus Circus-Reno; the Colorado Belle and the Edgewater in Laughlin; the Gold Strike and Nevada Landing in Jean and Railroad Pass in Henderson. The company also operates the Silver City in Las Vegas; owns a 50% interest in Silver Legacy in Reno and owns a 50% interest in and operates the Monte Carlo in Las Vegas. The company also owns and operates Circus Circus-Tunica, a riverboat Casino in Tunica County, Mississippi, and owns a 50% interest in and operates the Grand Victoria riverboat Casino in Elgin, Illinois. 
  

DETROIT, Nov. 20 - Leaders of Greektown Casino today thanked Mayor Dennis Archer and said they look forward to working with Archer and the City Council to make Detroit one of the nation's premier gaming and entertainment destinations. 

"We commend Mayor Archer for never wavering in his determination to return Detroit to its status as a world-class city. All of us at Greektown Casino look forward to working with Mayor Archer to continue the revitalization of Detroit," said Ted Gatzaros, a partner in Greektown Casino with Jim Papas and the Sault Ste. Marie Tribe of Chippewa Indians. 

Sault Tribe Chairman Bernard Bouschor said Greektown Casino will create jobs and new opportunities for Detroit much like the Tribe's Kewadin Casinos have boosted the Upper Peninsula. 

"What a day for the people of Detroit," Bouschor said. "Greektown Casino means 4,000 good jobs with full benefits, and significant new economic opportunities for vendors and suppliers. It also means about 8 million more people coming to downtown Detroit each and every year. Under the leadership of Mayor Archer, and thanks to significant new attractions, the future of Detroit looks very bright." 

Partner Jim Papas said the casino resort will build on the success of Greektown and improve the district for visitors and merchants. "We will work closely with Greektown's 130 merchants and shopkeepers to ensure continued prosperity and even greater economic success," Papas said. "Adding our casino to the mix of attractions in Greektown will solidify the district's position as Detroit's leading destination for great food, fun and entertainment." 

Art Blackwell, an investor in Greektown Casino, said many Detroit suppliers and vendors will provide goods and services to the city's three new casino resorts. "The economic impact will be tremendous," Blackwell said. "More than 75 cents of every dollar that comes into a casino goes right back out again to purchase everything from hotel supplies to service contracts." 

Greektown Casino, with 100,000 square feet of gaming space, 3,000 new parking spaces and 1,000 hotel rooms,will cost about $519 million.