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Article: MGM MIRAGE Completes North Las Vegas Land Sale.
- Article from:
- PR Newswire
- Article date:
- October 16, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MGM MIRAGE today announced that it has completed the sale of approximately 315 acres of land north of its Shadow Creek golf course in North Las Vegas, Nevada for approximately $55 million. The land was purchased by Centex Homes, one of the nation's largest and most admired home builders.
"At one time, the Company had considered the development of a second golf course on this site," said J. Terrence Lanni, Chairman and Chief Executive Officer of MGM MIRAGE. "Given that Shadow Creek and our two championship golf courses at Primm Valley are in pristine condition, this land sale is an efficient way for our Company to monetize this non-core asset. We will utilize ...