Mandalay Resort Group (formerly Circus Circus Enterprises) was an American

hotel A hotel is an establishment that provides paid lodging on a short-term basis. Facilities provided inside a hotel room may range from a modest-quality mattress in a small room to large suites with bigger, higher-quality beds, a dresser, a re ...

and

casino A casino is a facility for gambling. Casinos are often built near or combined with hotels, resorts, restaurants, retail shops, cruise ships, and other tourist attractions. Some casinos also host live entertainment, such as stand-up comedy, conce ...

operator based in

Paradise, Nevada Paradise is an Unincorporated towns in Nevada, unincorporated town and census-designated place (CDP) in Clark County, Nevada, United States, adjacent to the city of Las Vegas. It was formed on December 8, 1950. Its population was 191,238 at the ...

. Its major properties included

Mandalay Bay Mandalay Bay is a 43-story luxury resort and casino at the south end of the Las Vegas Strip in Paradise, Nevada. It is owned by Vici Properties and operated by MGM Resorts International. It was developed by Circus Circus Enterprises and complete ...

Luxor Luxor is a city in Upper Egypt. Luxor had a population of 263,109 in 2020, with an area of approximately and is the capital of the Luxor Governorate. It is among the List of oldest continuously inhabited cities, oldest continuously inhabited c ...

Excalibur Excalibur is the mythical sword of King Arthur that may possess magical powers or be associated with the rightful sovereignty of Britain. Its first reliably datable appearance is found in Geoffrey of Monmouth's ''Historia Regum Britanniae''. E ...

and Circus Circus, as well as half of the

Monte Carlo Monte Carlo ( ; ; or colloquially ; , ; ) is an official administrative area of Monaco, specifically the Ward (country subdivision), ward of Monte Carlo/Spélugues, where the Monte Carlo Casino is located. Informally, the name also refers to ...

. In terms of market capitalization, it was one of the largest

operators in the world. Its stock traded on the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock excha ...

with the ticker symbol "CIR" and "MBG".

History

The company's longtime name originated with the Circus Circus casino, opened by Jay Sarno in 1968. The company was incorporated in 1974, as Circo Resorts Inc., owned by casino executives

William Bennett William John Bennett (born July 31, 1943) is an American conservative politician and political commentator who served as the third United States secretary of education from 1985 to 1988 under President Ronald Reagan. He also held the post of d ...

and

William Pennington William Pennington (May 4, 1796 – February 16, 1862) was an American politician and lawyer. He was the 13th governor of New Jersey from 1837 to 1843. He served one term in the United States House of Representatives, during which he served as ...

. Circo was formed to take over management of Circus Circus, and the company would take ownership nearly a decade later. In 1978, Circo Resorts was renamed Circus Circus Hotels Inc., after the opening of

Circus Circus Reno Circus Circus Reno is a hotel and casino located in Downtown Reno, Nevada. It anchors a network of connected hotel-casinos in the downtown Reno core that includes Silver Legacy Reno and Eldorado Reno and are owned and operated by Caesars Enter ...

. The company purchased the Silver City Casino and

Slots-A-Fun Casino Circus Circus Las Vegas is a hotel and casino located on the northern Las Vegas Strip in Winchester, Nevada, Winchester, Nevada. It is owned and operated by Phil Ruffin. Circus Circus includes the largest permanent circus in the world. It featur ...

in 1979 for $30 million, then refurbished both the interior and exterior. The company went public in 1983, as Circus Circus Enterprises, and traded on the New York Stock Exchange. The company's properties found success in the 1980s offering a Las Vegas experience to families subsequently experimented upon by its competitors. Its converted Circus Circus (originally developed for the upmarket) and later Excalibur properties offered gaming opportunities for adults and separate non-gambling games and theme-park-style experiences for underage visitors under the same roof. In 1983, Circus Circus purchased the Edgewater Hotel and Casino in

Laughlin, Nevada Laughlin () is an unincorporated community in Clark County, Nevada, United States. Laughlin lies south of Las Vegas, in the far southern tip of Nevada. As a resort town, it is known for its gaming and water recreation. As of the 2020 census, t ...

for $17 million. The next year, the company bought the neighboring

Colorado Belle The Colorado Belle is a former casino hotel on the banks of the Colorado River in Laughlin, Nevada, owned and operated by Golden Entertainment. Initially closed on March 17, 2020 due to the COVID-19 pandemic, on May 18, 2020, Golden Entertainmen ...

casino from Advanced Patent Technology and John Fulton for $4 million. The company planned to move the unprofitable Colorado Belle to make room for an expansion of the Edgewater. The group subsequently developed the

in 1990, the

in 1993 and the

in 1999 for which the group was renamed. The group entered into a joint venture in 1993 with Don Carano of Eldorado in Reno to develop and build Reno's largest and tallest megaresort titled Silver Legacy. The $350 million hotel opened on July 28, 1995. Circus Circus Enterprises held a majority stake in that Reno resort. Circus Circus Tunica opened on August 29, 1994. It was rebranded in 1997 as Gold Strike Tunica and given a more upscale theme. The total cost for the remodel was estimated to be $125 million. On March 20, 1995, Circus Circus Enterprises announced that it had agreed to acquire Gold Strike Resorts, a closely held budget casino owner and operator based in

Jean, Nevada Jean is a small commercial town in Clark County, Nevada, Clark County, Nevada, United States, located approximately south of the Las Vegas hotel-casino corridor along Interstate 15, and north of the Nevada-California border. There is no land z ...

, in a deal valued at more than $600 million. At the time of the acquisition, Gold Strike Resorts owned the

Gold Strike Hotel and Gambling Hall Terrible's Hotel & Casino, formerly the Gold Strike Hotel and Gambling Hall, was a casino hotel in Jean, Nevada, approximately north of the California state line, and about south of Downtown Las Vegas. It opened in 1987, and closed in 2020. I ...

, Nevada Landing Hotel and Casino, Railroad Pass Hotel and Casino and 50% of the under-construction

Monte Carlo Resort and Casino Park MGM, formerly Monte Carlo Resort and Casino, is a megaresort hotel and casino on the Las Vegas Strip in Paradise, Nevada, United States. It is owned by Vici Properties and operated by MGM Resorts International. It was developed by Mirage R ...

. The acquisition did not include the original Gold Strike near

Boulder City Boulder City is a city in Clark County, Nevada, United States. It is approximately southeast of Las Vegas. As of the 2020 census, the population of Boulder City was 14,885. The city took its name from Boulder Canyon. Boulder City is one of o ...

, because the owners wanted to pass it on to their children. In 1995, Circus Circus purchased the

Hacienda A ''hacienda'' ( or ; or ) is an estate (or '' finca''), similar to a Roman '' latifundium'', in Spain and the former Spanish Empire. With origins in Andalusia, ''haciendas'' were variously plantations (perhaps including animals or orchards ...

from Archon Corporation. By this time, the Hacienda was dwarfed by the many new megaresorts that were being built, in particular the

, which had just been recently completed. On December 10, 1996, the Hacienda was closed to the public after 40 years, and imploded later that month. This implosion was broadcast on the

Fox Network Fox Broadcasting Company, LLC (commonly known as Fox; stylized in all caps) is an American commercial broadcast television network serving as the flagship property of Fox Corporation and operated through Fox Entertainment. Fox is based at Fo ...

as a part of their

New Year's Eve In the Gregorian calendar, New Year's Eve refers to the evening, or commonly the entire day, of the last day of the year, 31 December, also known as Old Year's Day. In many countries, New Year's Eve is celebrated with dancing, eating, drinkin ...

1996 telecast. Despite the implosion, parts of the old resort still stood, due to the building not falling into its footprint, but toppling into its parking lot. The next day a wrecking crew was brought in to bring down the remaining parts. In March 1999, it was replaced by the

. The group was also a partner with Mirage Resorts on the 1996 opening of the nearby

. Circus Circus Enterprises closed the Silver City Casino on October 31, 1999. Following the completion of

in 1999, the name of the company was changed to Mandalay Resorts Group. On December 14, 1999, MotorCity Casino Hotel opened. On May 23, 2002, the Mandalay Resort Group announced a second 1,122-room hotel tower at their Mandalay Bay property, with a cost of at least $200 million. Construction began on the tower in September 2002. The name of the tower,

THEhotel at Mandalay Bay W Las Vegas is a luxury suite hotel. It is owned and operated by MGM Resorts International, and is part of Marriott International’s W Hotels brand. It is located within the Mandalay Bay complex on the Las Vegas Strip in Paradise, Nevada, Uni ...

, was chosen in September 2003. The tower opened on December 17, 2003. On June 4, 2004, one of Mandalay's largest competitors,

MGM Mirage MGM Resorts International is an American multinational hospitality, sports and entertainment company. It operates resorts in Las Vegas, Massachusetts, Michigan, Mississippi, Maryland, Ohio, New Jersey, Macau, Shanghai, Chengdu, Hangzhou and San ...

, announced a bid to acquire it for $68 per share plus assumption of debt. Although the proposal was announced after the stock market closed, the volume of trading in Mandalay stock on that day was quadruple the normal, with the stock closing at $60.27 per share. The ensuing negotiations between the two companies included at one point an announcement that the Mandalay board was rejecting the offer because of antitrust concerns. On June 15, 2004, however, both companies' boards approved a revised offer of $71 per share. The agreement called for MGM Mirage to pay $4.8 billion and to assume $2.5 billion in debt. The transaction was completed on April 25, 2005 for $7.9 billion. MGM executives were confident that antitrust regulators would not require the sale of any of the two companies' properties. Michigan law, however, forbade one company from owning multiple casinos, requiring the sale of either the MGM Grand Detroit or Mandalay's 54% stake in the MotorCity Casino. After some vacillation about which property to sell, Mandalay accepted a $525-million offer for its interest in MotorCity from

Marian Ilitch Marian Bayoff Ilitch (born January 7, 1933) is an American billionaire businesswoman, and the co-founder of Little Caesars Pizza with her late husband, Mike Ilitch. As of March 2018, Ilitch was one of the world's seven richest women, according ...

, the casino's second largest shareholder.

Hotels and casinos when acquired by MGM Mirage

* Circus Circus,

Winchester Winchester (, ) is a City status in the United Kingdom, cathedral city in Hampshire, England. The city lies at the heart of the wider City of Winchester, a local government Districts of England, district, at the western end of the South Downs N ...

Nevada Nevada ( ; ) is a landlocked state in the Western United States. It borders Oregon to the northwest, Idaho to the northeast, California to the west, Arizona to the southeast, and Utah to the east. Nevada is the seventh-most extensive, th ...

* Circus Circus,

Reno Reno ( ) is a city in the northwest section of the U.S. state of Nevada, along the Nevada–California border. It is the county seat and most populous city of Washoe County, Nevada, Washoe County. Sitting in the High Eastern Sierra foothills, ...

, Laughlin,

* Edgewater, Laughlin,

Paradise In religion and folklore, paradise is a place of everlasting happiness, delight, and bliss. Paradisiacal notions are often laden with pastoral imagery, and may be cosmogonical, eschatological, or both, often contrasted with the miseries of human ...

* Gold Strike,

Jean Jean may refer to: People * Jean (female given name) * Jean (male given name) * Jean (surname) Fictional characters * Jean Grey, a Marvel Comics character * Jean Valjean, fictional character in novel ''Les Misérables'' and its adaptations * J ...

* Gold Strike, Tunica,

Mississippi Mississippi ( ) is a U.S. state, state in the Southeastern United States, Southeastern and Deep South regions of the United States. It borders Tennessee to the north, Alabama to the east, the Gulf of Mexico to the south, Louisiana to the s ...

* Grand Victoria,

Elgin Elgin may refer to: Places Canada * Elgin County, Ontario * Elgin Settlement, a 19th-century community for freed slaves located in present-day North Buxton and South Buxton, Ontario * Elgin, a village in Rideau Lakes, Ontario * Elgin, Manit ...

Illinois Illinois ( ) is a U.S. state, state in the Midwestern United States, Midwestern United States. It borders on Lake Michigan to its northeast, the Mississippi River to its west, and the Wabash River, Wabash and Ohio River, Ohio rivers to its ...

(50% owner in partnership with

) * Nevada Landing,

* Railroad Pass, Henderson,

* Silver Legacy,

(50% owner in partnership with

Eldorado Resorts Caesars Entertainment, Inc., formerly Eldorado Resorts, Inc., is an American hotel and casino entertainment company founded and based in Reno, Nevada, that operates more than 50 properties. Eldorado Resorts acquired Caesars Entertainment Corpora ...

) * Slots-A-Fun,

Former properties

MotorCity ''Motorcity'' is an American animated television series created by Chris Prynoski. It is produced by Titmouse, Inc., Robin Red Breast, Inc. and Disney Television Animation. The series premiered on Disney XD on April 30, 2012, and concluded on Ja ...

Detroit Detroit ( , ) is the List of municipalities in Michigan, most populous city in the U.S. state of Michigan. It is situated on the bank of the Detroit River across from Windsor, Ontario. It had a population of 639,111 at the 2020 United State ...

Michigan Michigan ( ) is a peninsular U.S. state, state in the Great Lakes region, Great Lakes region of the Upper Midwest, Upper Midwestern United States. It shares water and land boundaries with Minnesota to the northwest, Wisconsin to the west, ...

* Silver City Casino,

References

{{Mandalay Resort Group 1974 establishments in Nevada 2005 disestablishments in Nevada Hospitality companies established in 1974 Hotels disestablished in 2005 Gambling companies established in 1974 Gambling companies disestablished in 2005 Defunct companies based in Nevada Defunct gambling companies Companies based in Paradise, Nevada Gambling companies of the United States MGM Resorts International 1980s initial public offerings 2005 mergers and acquisitions Companies formerly listed on the New York Stock Exchange

History

Hotels and casinos when acquired by MGM Mirage

Former properties

See also

References