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| | | January 23 - The U.S. Federal Trade Commission (FTC) failed to approve MGM Mirage's planned $7.9 billion buyout of the Mandalay Resort
Group on Friday, a merger that would effectively create the largest casino operator in the world.
There is speculation that the commission is dragging its feet on approval because it is still investigating claims that the deal could mean higher room prices and less promotional discounts for gambling customers.
As soon as the FTC gives the thumbs up, which commentators say is likely to be as soon as February, Nevada game
regulators will hold their own hearings on the merger which they are entailed to
do regarding deals of this size.
MGM Mirage is hoping to conclude the buyout before the end of March. Good news for the merging parties is that the Mandalay Resort shareholders and Mississippi's three-member gaming commission unanimously approved the transaction in December
of last year, which means two of the Nevada's 29 casinos are in the bag.
However, there is another giant merger on the horizon between Harrah's Entertainment and Caesars Entertainment in a deal estimated to be worth $9.4 billion. If approved by the FTC towards the middle of this year, this deal would result in the biggest single casino company in the world.
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