Booming Las Vegas Real Estate Big Part of Development Plan

Having acquired Mandalay Resort Group, MGM Mirage is now Nevada's largest
employer and private investor. And it intends to diversify its investments
and work on reinventing Las Vegas as more than just a tourist/gaming
destination.

Las Vegas real estate will be a large part of that new plan.

The combined company owns 831 acres on the Las Vegas strip, and now
expects to develop 150 acres of the land. In the last five years, MGM
Mirage has invested more than $2.3 billion in capital in its properties.
Las Vegas condos, which now earn a higher return on investment than
gaming, will be a major focus for the company.