29 Jul 2004
FTC delays MGM and Mandalay merger
The $7.9bn (£4.4bn) merger of Mandalay Resort Group and MGM Mirage has been delayed after the Federal Trade Commission (FTC) requested more information relating to the deal.
The companies announced that they would respond promptly to the request and MGM said that it still expects the transaction to be completed in the first quarter of 2005.
FTC’s demand for the information, called a “second request”, is seen as a sign of government discomfort towards competition issues raised by the merger.
Mandalay operates 11 properties in Nevada and the Gold Strike hotel and casino in Mississippi.
Las Vegas-based MGM Mirage owns and operates 11 casino resorts in three states and employs around 40,000 people.
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