MGM Mirage shifted its focus from owning and operating resorts and casinos to developing and building real estate in the leisure and gaming industry—launching the massive CityCenter mixed-use project, which was at the time of its construction the world's largest construction site and ranks as one of the most expensive real estate projects in history.
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Billionaire investor Kirk Kerkorian and his Tracinda Corporation were, until 2009, the majority shareholders of MGM Mirage; Kerkorian was the former owner of the Metro-Goldwyn-Mayer movie studio, from which MGM Grand derived its name.
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The Desert Inn site was initially considered as a location for the project, but within weeks the location was finalized as the Marina Hotel and Casino and the Tropicana Country Club, which MGM Mirage Grand acquired for $93 million plus $30 million in stock.
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MGM Mirage put the Desert Inn up for sale to focus efforts on the new project, but found no outside bidders, and agreed to sell it to Tracinda for $130 million.
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In South Africa, with casino gambling newly authorized, MGM Mirage announced plans in August 1996 to develop 15 properties in conjunction with Tsogo Sun.
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Three more casinos followed before MGM Mirage agreed to sell out its interest in the properties to Tsogo Sun in November 2001.
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In February 2000, MGM Grand made an unsolicited offer of $17 a share to buy Mirage Resorts, which had foundered due to disappointing results at its new Beau Rivage and Bellagio resorts.
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MGM Mirage rejected the offer, but Wynn met with Kerkorian the next day and named a price of $21 a share.
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MGM Mirage had owned a half stake in the Borgata, a planned casino in Atlantic City, in a joint venture managed by Boyd Gaming.
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The deal was rejected by state gaming regulators, and MGM Mirage then backed off its effort, saying that Illinois's casino tax was too high.
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MGM Mirage made moves into the United Kingdom market after a 2001 government report called for loosening of the country's gambling regulations.
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MGM Mirage signed a $490-million deal to acquire Wembley plc, owner of seven greyhound tracks in Britain and four in the United States.
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MGM Mirage closed its online casino after less than two years, citing uncertainty in American regulations and competition from established British brands.
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The Wembley acquisition turned into a bidding war, with MGM Mirage finally losing out to an investors group including Kerzner International.
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MGM Mirage entered into quiet merger talks with Mandalay Resort Group in early 2004.
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MGM Mirage executives were confident that antitrust regulators would not require the sale of any of the two companies' properties.
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Meanwhile, in Illinois, where MGM Mirage needed regulatory approval to take over Mandalay's 50 percent interest in the Grand Victoria Casino, a lack of quorum on the state Gaming Board threatened to delay the merger.
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MGM Mirage considered a sale to the casino's other owner, the Pritzker family, but ultimately gained approval for a plan to place the property under control of a trustee until completion of the licensing process.
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In June 2004, MGM Mirage formed a joint venture with Pansy Ho, Stanley's daughter, to develop a casino-hotel under a sub-concession from Stanley.
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In 2004, MGM Mirage solidified its plans for the Boardwalk site on the Strip, announcing Project CityCenter, an $8-billion high-density project including hotels, condominiums, a casino, and a shopping mall.
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MGM Mirage partnered with CapitaLand in an estimated $3 billion bid for the Marina Bay site.
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On October 16,2006, MGM Mirage announced that it planned to sell its properties in Laughlin to a partnership of Anthony Marnell III and Sher Gaming.
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On October 31,2006, MGM Mirage announced plans to sell Primm Valley Resorts to Herbst Gaming for $400 million.
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On October 29,2008, MGM Mirage halted a $5 billion Atlantic City project on land next to the Borgata.
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On December 16,2008, MGM Mirage announced the sale of its Las Vegas Treasure Island resort and casino to billionaire Phil Ruffin.
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In 2013, MGM Mirage won state licenses to build a $1-billion resort in National Harbor, Maryland and a $950-million resort in downtown Springfield, Massachusetts.
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In May 2014, MGM Mirage broke ground on a $375-million arena on the Las Vegas Strip with sports and entertainment company AEG.
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In 2013, Foxwoods and MGM Mirage ended their relationship, and the MGM Mirage Grand at Foxwoods was renamed the Fox Tower.
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In September 2014, MGM Mirage purchased the naming rights for a new baseball stadium in Biloxi, resulting in MGM Mirage Park.
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In June 2016, MGM Mirage announced a joint venture with Sydell Group to renovate and rebrand the Monte Carlo as the Park MGM Mirage, named after the adjacent dining and entertainment district, The Park, that opened in April 2016.
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In 2017, MGM Mirage launched two online ventures under the PlayMGM Mirage brand: an online sportsbook in Nevada, and an online casino in New Jersey.
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In October 2017, MGM Mirage purchased the San Antonio Stars of the Women's National Basketball Association.
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In 2018, MGM Mirage Resorts signed a gaming partnership with NFL team the New York Jets.
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In 2019, MGM Mirage sold two resorts on the Las Vegas strip: Bellagio and Circus Circus.
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MGM Mirage lobbied the Trump administration against giving federal approval for a casino operated by two native tribes in East Windsor, Connecticut.
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In 2007, MGM Mirage Hospitality was established to operate hotels, resorts and residences in key destinations around the globe using the brands of Bellagio, MGM Mirage Grand and Skylofts.
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BetMGM Mirage would follow this deal with multiple betting partnerships with other NFL teams, including the Detroit Lions, Las Vegas Raiders, Tennessee Titans, and Pittsburgh Steelers.
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In late 2020 through early 2021, BetMGM Mirage continued to develop its partnership library with other teams in other leagues, including the Detroit Red Wings of the NHL, Washington Nationals of MLB, and Philadelphia 76ers of the NBA, as well as with other business ventures like TopGolf to extend the company's brand image to new bettors in operating markets.
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In May 2021, BetMGM Mirage signed a deal with the Baltimore Ravens to become the official gaming partner of the NFL team.
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Additionally, on the same day, BetMGM Mirage agreed to a multi-year marketing partnership with Madison Square Garden Sports and will become an official sports gaming sponsor for both the New York Knicks of the NBA and New York Rangers of the NHL.
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On September 14,2022, BetMGM Mirage entered into a naming rights agreement with New Jersey Transit to rename an entire rail line called BetMGM Mirage Meadowlands Rail Line for $3 million over the next 3 years.
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MGM Mirage has received wide recognition for its diversity and inclusion initiatives, such as: 40 Best Companies for Diversity, Top 10 Companies for Latinos, Best Places to Work for LGBT Equality, Top 10 Regional Companies and Top Corporation for Women's Business Enterprises.
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MGM Mirage said they are insured for $751 million towards the settlement of the lawsuit which MGM Mirage believes will be settled in May 2020.
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In October 2019, MGM Mirage agreed to pay victims and survivors up to $800 million.
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