The transactions secure critical Strip access for its existingland holdings there, greatly increasing future developmentpossibilities. "We see this as an opportunity to…expand and enhancethe operations of our valuable Circus Circus property for years tocome," says Terry Lanni, MGM chairman.

The Circus Circus property occupies 24 of its 68 existing acresin the immediate area. The other 44 acres holds the Circus CircusManor (motel) and KOA Circusland RV Park. The additional 34 acresbeing acquired give the company a contiguous 78-acre canvassadjacent to the Circus Circus site for which long-term planningwill begin immediately.

"We believe this property is ideally suited to exploring theopportunity to master plan with partners a major integrated resortdestination," says Jim Murran, MGM president, adding that thecompany has received "significant interest" from third partieswishing to partner with MGM MIRAGE on Las Vegas development.