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The company's background can be traced to 1969, when airline and casino tycoon Kirk Kerkorian bought a controlling stake in the Metro-Goldwyn-Mayer (MGM) film studio. [15] In 1970 and 1971, Kerkorian struggled with debt from his acquisitions of MGM and Western Airlines, and was forced to sell a majority of his casino company, International Leisure, to Hilton Hotels at a steep discount.
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While campaigning for the gaming initiative, Resorts International also began planning for a future Atlantic City casino by securing an option for 55 acres (220,000 m 2) of land on the Atlantic City Boardwalk from the city's Housing and Re-Development Authority as well as acquiring Leeds & Lippincott Company, which owned Chalfonte-Haddon Hall ...
Borgata was part of a major project in Atlantic City nicknamed "The Tunnel Project", started around 1999. When Steve Wynn planned the Le Jardin in Atlantic City, he wanted to connect a $330 million 2.5-mile (4.0 km) tunnel from the Atlantic City Expressway to the new resort, later named the Atlantic City-Brigantine Connector, which would funnel incoming traffic off the Atlantic City Expressway ...
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Like Wynn's previous resorts, the Bellagio features an extensive water show on the Strip. In October 1998, Wynn opened the even more opulent Bellagio, a $1.6 billion resort considered among the world’s most spectacular hotels. [15] The architect was Jon Jerde of The Jerde Partnerships, and construction was handled by Mirage Resorts, Inc. When ...
Image source: The Motley Fool. MGM Resorts International (NYSE: MGM) Q3 2024 Earnings Call Oct 30, 2024, 5:00 p.m. ET. Contents: Prepared Remarks. Questions and Answers. Call Participants
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