September 26, 2016 6:58 AM ET

Hotels, Restaurants and Leisure

Company Overview of Mandalay Corp.

Company Overview

Mandalay Corp., doing business as Mandalay Bay Resort and Casino, operates a resort and casino. Its resort includes spas, gyms, casinos, beach clubs, wedding chapels, shark reef aquariums, hotels, restaurants, lounges and bars, nightclubs, convention centers, and shops. Mandalay offers various facilities, such as golf courses, dining, facials, body treatments, massages, salons, packages, wedding services, gift cards, souvenirs t-shirts, resort wear, rooms and suites, VIP services, games, meetings, catering, event planning, and convention services. The company was founded in 1965 and is based in Las Vegas, Nevada. Mandalay Corp. operates as a subsidiary of MGM Mirage.

3950 Las Vegas Boulevard South

Las Vegas, NV 89119

United States

Founded in 1965

Phone:

702-632-7777

Fax:

702-632-7234

Key Executives for Mandalay Corp.

Director of Spa Operations
Race & Sports Book Director
Compensation as of Fiscal Year 2016.

Mandalay Corp. Key Developments

Mandalay Bay Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2016

Mandalay Bay reported unaudited earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported net revenues of $230.181 million compared with $226.935 million for the same period last year. Adjusted Property EBITDA was $58.122 million compared with $53.988 million for the same period last year. Operating income was $34.855 million compared with $35.321 million for the same period last year.

Mandalay Bay Announces Unaudited Earnings Results for Third Quarter and Nine Months Ended Sept. 30, 2015

Mandalay Bay announced unaudited earnings results for third quarter and nine months ended Sept. 30, 2015. For the quarter, the company earned net revenue of $232,172,000 compared to $216,956,000 a year ago. Adjusted EBITDA was $49,961,000 compared to $29,796,000 a year ago. Operating income was $29,180,000 compared to $10,478,000 in the prior year quarter. For the nine months, the company reported net revenue of $701,109,983,000 compared to $669,846,000 a year ago. Adjusted EBITDA was $164,745,000 compared to $138,799,000 a year ago. Operating income was $104,064,000 compared to $78,413,000 a year ago.

MGM Mulls Listing Of 10 Properties After Spinoff

MGM Resorts International (NYSE:MGM) is planning to get its assets listed. The company, under pressure from a shareholder, said that it would spin off 10 resorts into a publicly traded real estate investment trust. MGM said it would transfer seven Las Vegas resorts The Mirage Hotel and Casino, Mandalay Corp. (Mandalay Bay), Victoria Partners L.P. (Monte Carlo), New York-New York Hotel & Casino, LLC, Ramparts, Inc. (Luxor), New Castle Corp Inc (Excalibur), The Park, Mgm Grand Detroit, Inc., Beau Rivage Resorts Inc. and Gold Strike Tunica. MGM shareholder Land and Buildings has been putting pressure on the company throughout this year to convert its real estate assets into a REIT and spin off its hotels. MGM said it expects to complete the spin-off by the first quarter of 2016. MGM's shares rose 9% in premarket trading on October 29, 2015.

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Recent Private Companies Transactions

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