Las Vegas Real Estate Behind MGM Mirage's Strategy

MGM Mirage expects Las Vegas condos, which now have a better rate of
return than gaming, to fuel its continued growth. The company holds 831
acres of property on the Las Vegas strip, and expects to develop 150 acres
of the land in the near future. Since 2000, MGM Mirage has invested more
than $2.3 billion in its properties.

One focus of the company's strategy is the upcoming CityCenter, which
will house both casinos and condos. Las Vegas residential real estate is
becoming a centerpoint of the company's plans. The intention is to
transform Las Vegas into a world-class city, and more than just a from a
tourism and gaming center.