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MGM Mirage Bets $160M on South-End Resort

LAS VEGAS-With its center-Strip mega resort under way and land for a north-Strip resort recently banked, the casino-resort operator makes a south-end investment.

By Brian K. Miller | Updated on May 01, 2007

(Read more on the debt and equity markets.)

LAS VEGAS-MGM MIRAGE is investing $160 million in M Resort, an 80-acre project here by local investor-developer Anthony A. Marnell III, to whom MGM is selling its two casinos in Laughlin, NV, for $200 million. The M Resort site, located in Henderson, NV, fronts Las Vegas Boulevard about 10 miles south of the six-mile stretch commonly referred to as The Strip.

“(This) is a huge validation of the location, design and master plan,” says Marnell III, son of casino developer and builder Anthony Marnell II, whose firm Marnell Corrao Associates built Wynn Las Vegas and Bellagio and will design and build the M Resort.

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