Word: mgm
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...gaming companies has in the last 18 months become a money-sucking crap shoot. Recession and the global credit crisis have turned some bottom lines red, while major new projects have been shelved due to lack of financing and an uncertain business outlook. The latest hard-luck story: MGM Mirage. This week, the Las Vegas-based company disclosed that New Jersey gaming industry regulators object to its Macau joint venture partner, raising the possibility that MGM Mirage could pull out of the market. (Watch a video about Macau's gambling boom...
...MGM Mirage opened the $1.25 billion MGM Grand Macau hotel and casino in 2007 in partnership with Pansy Ho, daughter of tycoon Stanley Ho, who held a monopoly on gaming in Macau for four decades and continues to operate casinos in the city today. In a filing with the U.S. Securities and Exchange Commission, MGM Mirage said that the New Jersey Division of Gaming Enforcement had deemed Pansy Ho an "unsuitable" partner after a four-year investigation. The agency recommended that MGM Mirage "be directed to disengage" itself from the joint venture. Company officials didn't reveal the reasons...
...results of the investigation have thrown the future of MGM Mirage's Macau business into confusion. Although the report is only a recommendation, New Jersey's Casino Control Commission could order the company to end the partnership if its findings are upheld. New Jersey gaming authorities have jurisdiction over MGM Mirage's business associations because the company owns part of a casino in Atlantic City. (Read about greyhound racing in Macau...
...years of sound, dozens of vaudeville acts achieved their only immortality. Blacks rarely had prominent roles in feature films, but Ethel Waters, Bessie Smith and a seven-year-old Sammy Davis starred in shorts. TCM runs Robert Benchley and Joe McDoakes comedy shorts and Fitzpatrick travelogs. The weirdest series: MGM's early-'30s Dogville Comedies, one-reel movie parodies (The Dogway Melody, The Big Dog House, Trader Hound), in which pooches were dressed up and made to walk on their hind legs and "talk" with fish wire. Paging PETA...
...DVDs. Maybe there is a business model: Feltenstein uses the network to promote the classic DVD collection, and vice versa. The video stores and Netflix are groaning with TCM collections, the best being three editions of Forbidden Hollywood, multipacks of Warner and MGM films from the pre-Code era that TCM helped revive. (Must-buy: Vol. 3, with a half-dozen rough diamonds directed by William A. Wellman.) Last month TCM began offering personalized movies: you choose a title from a list of films that haven't yet made it to DVD, pay about $15, and get one of these...