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MGM Mirage Aims for Native Contract19 September 2002LAS VEGAS – As reported by Reuters: "Casino giant MGM Mirage (NYSE:MGG) is making a major push into high-growth native American gaming, with its sights set on winning a management contract within a year, Chief Financial Officer Jim Murren said on Wednesday. "The Las Vegas-based owner of the MGM Grand and Bellagio resorts is a relative latecomer to Indian gaming, which, after a slow start amid legal and legislative issues, has become one of the most promising growth areas for the casino industry. "MGM Mirage recently scored its first Indian casino contract in the form of a consulting deal with a tribe in the Palm Springs, California area. "…Murren cautioned that such deals take time to reach, but said some announcements could be forthcoming in the not-too-distant future. "…MGM Mirage's arrival to native American gaming would make it the third of the nation's top four casino operators to enter the growing arena. "Park Place Entertainment Corp. (NYSE:PPE) has signed one such deal with a New York tribe, and Harrah's Entertainment Inc. (NYSE:HET) operates a recently opened native American casino within driving distance of San Diego…" |