The new tower will specifically target attendees to the Companys Mandalay
Bay Convention Center, which will open in January 2003. This project will
further enhance the power of our Mandalay Mile as the most integrated resort
complex in the world. It is yet another asset that will drive our long
term performance by further segmenting our room offerings and driving REVPAR
gains, said Glenn Schaeffer, president of the Mandalay Resort Group. The
Mandalay Mile includes the Mandalay Resort & Casino, Luxor, and Excalibur.
Specific features of the tower include:
The Convention Center will be one of our principal growth engines,
driving future results for the company. Among other positive effects, it
fills a gap in our portfolio of non-gaming amenities and enhances, to an
extent, our visibility as it relates to financial performance on the Strip.
It is this type of consistency, over time, that is the singular focus of
our management team, added Schaeffer.
The company announced in March that the Convention Center has firm bookings
of six shows in its opening weeks. Since that announcement, three additional
shows have been scheduled: the Promotional Products Association International
Expo (Jan. 13-17); the Exhibitor Show (March 24-26) and the International
Sign Association Expo (April 3-5).
Mandalay Resort Group (NYSE:MBG) is a leading owner and operator of
world-class entertainment and business destinations serving multiple segments
of the market with casinos, hotels and entertainment attractions in key
regions of the United States. The company owns and operates 11 properties
in Nevada: Mandalay Bay Resort & Casino, Luxor, Excalibur, Circus Circus,
and Slots-A-Fun in Las Vegas; Circus Circus-Reno; Colorado Belle and Edgewater
in Laughlin; Gold Strike and Nevada Landing in Jean and Railroad Pass in
Henderson. The company also owns and operates Gold Strike, a hotel/casino
in Tunica County, Mississippi. The company owns a 50% interest in Silver
Legacy in Reno, and owns a 50% interest in and operates Monte Carlo in
Las Vegas. In addition, the company owns a 50% interest in and operates
Grand Victoria, a riverboat in Elgin, Illinois, and owns a 53.5% interest
in and operates MotorCity in Detroit, Michigan.