/ 108 - Money- smart90.com/tvimagazine/2005/4805/108JockeyClubMGMMirage.htm





























































Click for tviNews PERSON OF THE WEEK

See Larger Movie

(You MAY need the FREE QuickTime plug-in to view and hear s90tv)

A WINTER ISSUE - Las Vegas tviNews Event
TVInews - 108 PHOTO IMAGE665: The 1997 proposed ChinaExpo Forbidden City Jockey Club-Las Vegas project was featured on TVI's 1997 cover. Ten years later, the new MGM CityCenter Boardwalk Project will shut down the old Boardwalk by January 9, 2006, to make room for a MGM Mirage Boardwalk Casino
• 02. Movie Segments
03. More Story
Related Stories
UpDates: 2005 to 2009 - MGM JockeyClub City Walk2006/ImagesTVIPages90s/1997p00Cover665w.jpg PHOTO IMAGE665: The 1997 proposed ChinaExpo Forbidden City Jockey Club project was featured 9 years ago on TVI's 1997 cover. The old Boardwalk is slated to be closed by January 9, 2006, to make room for the new MGM Mirage Boardwalk project. The project would replace the Forbidden City project and proposed structures shown in insert photo. The photo depicts U.S. dancers entertaining in Beijing's Forbidden City, and being seen simultaneously in Las Vegas by webcast. MORE WEBCAST STORY.







This Week's Cover



Hong Kong Triad /
"Jockey Club"

TVI Magazine
Back Issues







Returnˆ To Top'

1. Feature Story


Boardwalk slated to close Jan. 9 2005 to make room for Project CityCenter
Casino owner MGM Mirage, placing greater value on the land under the Boardwalk than the casino itself, said Tuesday it will shutter the beachside midway-themed resort on Jan. 9.
The Boardwalk's 749 employees learned of the pending closure Friday, the company said.
MGM Mirage is working to transfer those affected to similar roles within its other properties. Those placed elsewhere will keep their existing hire dates as related to benefits and accrued vacation time.
Long rumored for a date with a wrecking ball, the Boardwalk's fate was sealed in November when MGM Mirage announced it would clear the site to make room for Project CityCenter, a $5 billion development slated to rise on a largely vacant 66-acre parcel between Bellagio and Monte Carlo. It will include a 60-story, 4,000-room hotel-casino; boutique hotels; a major shopping mall; and 1,640 luxury condominium units.
Spokesman Gordon Absher said Tuesday MGM Mirage is midway through a 20-month design phase for Project CityCenter; construction will require an additional 40 months, with opening day targeted for late 2009.
The Boardwalk is on about eight acres at 3750 Las Vegas Boulevard South, northeast of the Monte Carlo and across the street from MGM Grand. Despite being close to some of the city's best-known resorts, it enjoyed a relatively nondescript existence.
Clark County land records show the 200-room hotel-casino in back of the boardwald was built in 1968, and in later years the venue was affiliated with the Holiday Inn chain.
"Viva Las Vegas" -- says brainbooster about the Jockey Club. The Jockey Club itself, is located at 3700 Las Vegas Boulevard South - Las Vegas, Nevada 89109 - United States. The 355 room Jockey Club condo unit is located in between the Monte Carlo, the Boardwalk's, and the Bellagio Hotel, in the heart of the world famous Las Vegas Strip. MORE STORY ABOUT THE OWNERS SHOWING THE JOCKEY CLUB DEED.
Chris Jones of the Las Vegas Tribute, reported that the late Norbert Jansen parlayed control of a small on-site gift shop into a role as the Boardwalk's executive vice president in 1988, and in the mid-1990s, he opened a 16-story, 450-room tower. Boardwalk eventually became a publicly traded company, which Mirage Resorts purchased in 1998.
MGM Mirage acquired the site when it purchased Mirage Resorts in 2000.
More recently, locals have associated the Boardwalk with a series of campy Surf Buffet commercials featuring rotund boxer Eric "Butterbean" Esch, while free shows by the Prince tribute band Purple Reign have developed a strong following among Las Vegas visitors.

Part 02 / MORE MOVIE Segments of Hong Kong Triad / Jockey Club
Segment One
Segment Two
Segment Three
Segment Four
Segment Five

3. Editor's Photo Note /
Jockey Club MGM Loan Default Mar 2009. - MGM Mirage Auditors on March 17th 2009 raise doubts about the casino operator ability to pay off JockeyClub MGM Loan Default, which had a $1.15-billion 2008 loss.
••• Auditors raised "substantial doubt" about MGM Mirage's ability to continue, the largest casino owner on the Strip said on March 17th 2009, in a regulatory filing. The company also reported a $1.15-billion fourth-quarter loss after writing down properties because of shrinking gambling revenue.
••• Casino Operator MGM Mirage who's in charge of the Jockey Club - Las Vegas City Walk project, won a two-month bank court reprieve to restructure its debts.
••• The auditors' comments increase the likelihood that MGM Mirage will seek bankruptcy protection. Banks granted waivers on the $7-billion bank-loan facility until May 15. The company said March 3 that it was in talks to avert a potential breach of covenants.
••• In exchange for the temporary covenant waivers, MGM Mirage is prohibited from prepaying or repurchasing other long-term debt or selling assets. The company will also repay $300 million of the fully drawn revolving loan, and it accepted a 100-basis-point increase in the interest rate.
••• MGM Mirage, controlled by billionaire Kirk Kerkorian, can also fund construction of its Las Vegas City Center - Jockey Club project only if partner Dubai World also finances its half of the costs, the company said in the filing. The casino company reiterated Tuesday that it would finish the project on schedule.
Jockey Club MGM, Deutshe Bank City Walk Project 2009 - MGM, Deutsche talks said to fail - March - 2009 MGM Mirage and Dubai World failed to reach agreement with Deutsche Bank and talks on a $1.2-billion loan to complete the Las Vegas CityCenter project collapsed, according to five people with knowledge of the matter.
••• Deutsche Bank was seeking equity and debt stakes in the $11.2-billion development on the Las Vegas Strip in return for the loan. MGM Mirage and Dubai World are now holding talks with other parties, one of the people said. -- times wire reports

MGM CEO, Terry Lanni, stepped aside in Nov 2008, just as questions continued to swirl about his resume. He leaves as MGM Mirage and other casinos struggle with the worst financial crisis since the Great Depression. Its shares have plunged 87% this year as it has tried to get enough cash to cover loans and finish the $11.2-billion CityCenter project on the Las Vegas Strip.
••• MGM Mirage, the casino firm majority-owned by billionaire Kirk Kerkorian, said Chairman and Chief Executive Terry Lanni retired in November as questions about his resume surfaced. Lanni says the USC business degree listed on his company bio is honorary.
••• "It's time for a younger generation to take over," Lanni said in a telephone interview. He also cited a desire to spend more time with his family. CLICK FOR MORE CITY WALK JOCKEY CLUB NEWS / CLICK Construction outside the Jockey Club in Las Vegas

4. Bylines

02 TVInews - 1996. A Special Jockey Club Money Magazine Issue - China Expo 2000 - Jockey Club Alliance Group Issue

03 A Fall ISSUE - 1996 - A Special Jockey Money Magazine Issue


TVI Magazine Issues / Related Stories
TVI MAGAZINE - 1996 / Page 00
TVI MAGAZINE - 1996 / Page 73
TVI MAGAZINE - 1996 / Page 95
TVI MAGAZINE - 1996 / Page 96
TVI MAGAZINE - 1997 / p00
TVI MAGAZINE - 1997 / p95
TVI MAGAZINE - 1997 / p96

More Articles • Converging News 482005 / TeleCom BuyOuts, Spinoffs and Asset Seizure Boom

Respectfully Submitted
Josie Cory
Publisher/Editor TVI Magazine
 TVI Magazine, tviNews.net, YES90, Your Easy Search, Associated Press, Reuters, BBC, LA Times, NY Times, VRA's D-Diaries, Industry Press Releases, They Said It and SmartSearch were used in compiling and ascertaining this Yes90 news report.
 ©1956-2010. Copyright. All rights reserved by: TVI Publications, VRA TelePlay Pictures, xingtv and Big Six Media Entertainments. Tel/Fax: 323 462.1099.

We Preserve The Moment

Return ˆ To Top

VRA TelePlay -- DVDs

We Preserve The Moment
Yes90 tviNews S90 108 PHOTO IMAGE665: The 1997 proposed ChinaExpo Forbidden City Jockey Club-Las Vegas project was featured on TVI's 1997 cover. Ten years later, the new MGM CityCenter Boardwalk Project will shut down the old Boardwalk by January 9, 2006, to make room for a MGM Mirage Boardwalk Casino • / Television International Magazine's Person Of The Week POWeek 482005 - / NEWS Convergence - 48th Week of 2005 November Issue / Feature Story • 108JockeyClubMGMMirage.htm Smart90, s90tv, lookradio, wifi90, tvimagazine, dv90, vratv, xingtv, Kudoads, Kudocasting, Ddiaries, nbs100, Look Radio, Troy Cory-Stubblefield, Josie Cory - Television With No Borders

Legal Notices Copyright Information
How Do We Do Business?
Tel 323 462-1099
Return ˆ To Top