May 2009 Archives

With so much bad news about the recession, one Las Vegas hotel is offering good news for locals: a Summer Staycation. The AAA Four-Diamond Renaissance Las Vegas Hotel is taking advantage of recessionary times -- noted for tightened wallets and conservative travels plans -- by giving Nevada residents an opportunity to enjoy all the property has to offer.

Beginning June 1, 2009, the Renaissance is jump starting summer vacation and offering locals a Las Vegas vacation package they can't refuse. Nevada residents with a government issued ID can receive a two night stay in a Deluxe room, 20% off at the award winning ENVY The Steakhouse, two complimentary drinks at ENVY Lounge and complimentary transportation to the Stirling Club Spa located at Turnberry Place where they will receive 20% off spa services. This offer will be valid until August 30, 2009 at rates starting from $109.

"Tough economic times call for informed decisions when it comes to getaways and vacations," said Tom Xavier, general manager of the Renaissance Las Vegas Hotel. "Renaissance provides the most luxurious amenities in Las Vegas for the best value. A staycation at our property is a must for anyone looking to have a great getaway at a low price."

The staycation concept grew from consumers' desire to experience new and exciting places without the cost and hassle of driving or flying to faraway locations. Travelers looking to exceed their expectations, but not their budget can stay at the luxurious Renaissance Las Vegas Hotel. The Las Vegas family hotel features 14 stories of spacious accommodations, showcasing 548 guest rooms, including 30 suites ranging from 859 to 1,681 square feet. One of the highlights of the location is that it is non-gaming, meaning the noise and distractions of casinos will be out of sight and out of mind.

SOURCE Renaissance Las Vegas

After two very successful test days, Sands Casino Resort Bethlehem, a new casino and entertainment destination developed by Las Vegas Sands Corp. (NYSE: LVS), has been notified by the Pennsylvania Gaming Control Board that it has been granted final approval to open its doors Friday, May 22 at 9:00 a.m.

Situated on the former site of the historic Bethlehem Steel plant and located approximately one hour from Philadelphia and an hour and a half from New York City, Sands Bethlehem will debut with 3,000 state-of-the-art slot machines and a variety of dining and entertainment options, including Emeril Lagasse's first restaurant in the Northeast U.S., Emeril's Chop House. The property also includes 3,400 convenient, covered parking spaces.

"We are very pleased with the results of our two test days this week and are looking forward to welcoming guests to Sands Bethlehem on Friday," said property president Robert DeSalvio. "Our team members have been looking forward to this occasion for many weeks and are excited to show our guests Sands Bethlehem hospitality and service at its best."

The new casino resort will hold its official Grand Opening with a series of special events on June 9, 2009. The Grand Opening will be attended by Pennsylvania Governor Ed Rendell, Bethlehem Mayor John Callahan, Pennsylvania Gaming Control Board Chairman Greg Fajt and LVS Chairman and Chief Executive Officer Sheldon Adelson.

Statements in this press release, which are not historical facts, are "forward looking" statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve a number of risks, uncertainties or other factors beyond the Company's control, which may cause material differences in actual results, performance or other expectations. These factors include, but are not limited to general economic conditions, competition, new ventures, government regulation, legalization of gaming, interest rates, future terrorist acts, insurance, and other factors detailed in the reports filed by Las Vegas Sands Corp. with the Securities and Exchange Commission.

SOURCE Las Vegas Sands Corp.

MGM MIRAGE (NYSE: MGM) announced today that it has commenced an underwritten public offering of 81.0 million shares of its common stock. It is expected that the offering will have gross proceeds of approximately $1 billion. Merrill Lynch & Co., Deutsche Bank Securities, J.P. Morgan, Morgan Stanley and UBS Investment Bank are acting as joint book-running managers for the offering. The underwriters for the offering will have a 30-day option to purchase up to an additional 12.15 million shares of common stock from the Company to cover over-allotments, if any.

Tracinda Corporation, the holder of approximately 53.8% of the Company's common stock has indicated that it intends to purchase from the underwriter approximately 8.1 million of the shares sold in the offering.

The Company plans to use the net proceeds from the offering, together with the net proceeds of a concurrent offering of senior secured notes, to (i) repay not less than $750 million of the outstanding amount under its senior credit facility, (ii) redeem all of the 7.25% senior debentures due 2017 of Mirage Resorts, Incorporated, (iii) purchase all of the Company's 6.0% senior notes due 2009 and all of the 6.50% senior notes due 2009 of Mandalay Resort Group tendered in pending tender offers, and (iv) for general corporate purposes.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any offer, solicitation or sale of the shares of common stock in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. A registration statement relating to these securities has been filed with the Securities and Exchange Commission and is effective.

A written prospectus and prospectus supplement relating to the common stock being offered may be obtained from Merrill Lynch & Co., 4 World Financial Center, New York, NY Attn: Prospectus Department (phone 212-449-1000), Deutsche Bank Securities, Attention: Prospectus Department, 100 Plaza One, Jersey City, New Jersey 07311, Telephone: (800) 503-4611, J.P. Morgan, 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245, Attention: Prospectus Department, 718-242-8002, Morgan Stanley, Attention Prospectus Department, 180 Varick Street, New York, NY 10014, email: prospectus@morganstanley.com" target=_new>prospectus@morganstanley.com or UBS Investment Bank, Attention: Prospectus Department, 299 Park Avenue, New York, NY 10171, telephone +1 (888) 827-7275. You may also get these documents for free by visiting the SEC website at www.sec.gov. Before you invest, you should read the prospectus and the prospectus supplement, the registration statement and other documents that the Company has filed with the Securities and Exchange Commission for more complete information about the Company and this offering.

SOURCE MGM MIRAGE

The Hard Rock Hotel & Casino and Relativity Media's Ryan Kavanaugh and recently acquired film and lifestyle property, Rogue, announced today that they are partnering on a multi level entertainment deal never before accomplished by a hotel casino property and an entertainment brand.

Amid all the excitement of their month-long grand opening celebration for The Joint concert venue, the Hard Rock Hotel & Casino and Relativity Media's recently acquired film and lifestyle property, Rogue, announced today that they are partnering on a multi level entertainment deal never before accomplished by a hotel casino property and an entertainment brand.

The deal grants Rogue the official naming rights to Hard Rock's legendary concert venue The Joint, which will now be called The Rogue Joint. In addition to several co-marketing opportunities between the companies such as social networking and cross promotions, The Rogue Joint will host a select slate of Rogue film premieres and screenings. The Rogue brand will also receive on-site presence throughout the Hard Rock, including a dedicated in-room channel programmed with Rogue films and trailers for upcoming releases, retail product, and presence at the world famous Hard Rock pool. Rogue's recently launched social network IamRogue.Com will be promoted and marketed throughout various platforms within the Hard Rock, including in room, The Joint, Friday Night Live poolside music series, Rehab and others. Hotel rooms and tickets for many of the venue's events will also be offered through the site.

"Relativity Media and Rogue are strong, creative, youthful, and exciting companies that perfectly match our philosophy on what a guest experience is all about" said Hard Rock Hotel & Casino Vice President and CMO Phil Shalala. "Joining forces with them continues our well-earned reputation for developing unique and innovative partnerships that benefit our audience above all else."

"The Hard Rock brand has always been a 'rogue' brand, in that it celebrated those rebels who believed they could change the world and then had the courage to do it," said Ryan Kavanaugh, CEO of Relativity Media. "There has always been great synergy between music and film, and this is another dimension in that rich history. We are extremely proud of The Rogue Joint and hope it soon takes its place in the pantheon of great venues that have brought so much joy to music fans around the world."

Hard Rock Hotel & Casino and Relativity set out to break the traditional sponsorship mold. Where most sponsor deals are a simple financial exchange, this agreement promises a true marketing partnership with multiple activations that will continue through the life of the contract.