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MGM Unveils Major Plans for Jean, NV Assets

LAS VEGAS-The company plans to redevelop 166 acres straddling Interstate 15 between the California border and Las Vegas. The property holds two casinos and two gas stations.

By Brian K. Miller | Updated on February 18, 2007

LAS VEGAS-MGM Mirage Inc. is selling a 50% stake in its Jean, NV portfolio for $75 million en route to a master-planned redevelopment of the property. The casino-resort operator owns two casinos and two gas stations there on 166 acres straddling Interstate 15 just 30 miles south of Las Vegas and about 200 miles northeast of the outskirts of Los Angeles.

The Jean, NV portfolio includes the 302-room Nevada Landing property, the 800-room Gold Strike Hotel and Casino and two gas stations/rest stops catering to truckers. The portfolio came with MGM’s April 2005 acquisition of the Mandalay Resort Group.

The new partnership plans to master plan, develop and operate gaming casinos and housing on the property along with other commercial and retail elements. A source with MGM tells GlobeSt.com that few specifics on the redevelopment have been hammered out because the master-planning process has yet to begin, but the project will include a brand new casino-resort and a new residential component as well as upgraded truck stations.

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