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Article: MGM Mirage invests in M Resort.

Article from:
Las Vegas Review-Journal (Las Vegas, NV)
Article date:
April 27, 2007
Copyright

Byline: Howard Stutz

Apr. 27--MGM Mirage announced Thursday it was investing in the proposed $700 million M Resort that is being developed on the far southern end of Las Vegas Boulevard by Anthony Marnell III, the son of casino building pioneer Tony Marnell.

The casino giant, which operates 10 Strip resorts and is building the $7.4 billion Project CityCenter, will finance $160 million of the M Resort through a subordinated convertible note. The company said it will have the right to convert the note into a 50 percent equity interest in the resort 18 months after the note is issued if it has not been repaid.

Anthony Marnell III, who operates the ...

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