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Mandalay: Las Vegas Strip Hotels Doing Well

LOS ANGELES, California – As reported by Reuters: "Casino operator Mandalay Resort Group (NYSE:MBG) on Wednesday said business on the Las Vegas strip was strong and hotel room revenue would rise by double-digit percentage rates in September and October, just before it opens a new hotel tower.

"Chief Financial Officer Glenn Schaeffer said in a telephone interview that August room revenue, a barometer of hotel industry health, rose about 7 percent.

"The Las Vegas-based company owns the Mandalay Bay Resort, the pyramidal Luxor and other major casinos as well as a new convention center and had said early this month that it expected a double-digit room revenue rise in September, but had not commented on October, the last month of its fiscal third quarter…"

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