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MGM MIRAGE Annouces Plans For Casinos And More Additions On Las Vegas Strip


MGM MIRAGE (NYSE: MGM) today announced that its Board of Directors has approved the design and budget for Project CityCenter, the Company's previously announced urban development project at the heart of the Las Vegas Strip. Project CityCenter will feature approximately 2.3 million square feet of residential space; a 4,000-room luxury hotel and casino; two 400-room, non-gaming boutique hotels; and over 470,000 square feet of retail, dining and entertainment space. The approved design will further enhance the overall significance and profitability of Project CityCenter, which is expected to provide owners and visitors alike a truly unique experience.
The overall cost of Project CityCenter is estimated at approximately $7 billion, excluding preopening and land costs. After estimated proceeds of $2.5 billion from the sale of residential units, the Company believes that the net project cost will be approximately $4.5 billion. Project CityCenter will be located on approximately 66 acres between Bellagio and Mo

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Keno

Definition:
A lotto game in which a set of numbers (typically 20) is selected from a large field of numbers (typically 80). Players select a smaller set of numbers (up to 10) and are awarded prizes based on how many of their numbers match those in the drawn set. Players have discretion over how many numbers to select, and can choose to play for a small prize with good odds (by selecting a small set of numbers such as three), a large prize with much greater odds (by selecting a large set of numbers such as 10) or combinations in between. In casinos, and with several lotteries, keno is played at frequent intervals, with drawings as close together as every five minutes. With other lotteries, keno is played as a daily or weekly game. Among the government lotteries offering keno are Massachusetts and Michigan.

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