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MGM Mirage Securities Litigation 09-CV-01558-First Amended
Case 2:09-cv-01558-GMN -VCF Document 152 Filed 04/17/12 Page 1 of 92 KESSLER TOPAZ NIX PATTERSON & ROACH, LLP MELTZER & CHECK, LLP BRADLEY E. BECKWORTH (Pro Hac Vice) RAMZI ABADOU (Pro Hac Vice) JEFFREY J. ANGELOVICH (Pro Hac Vice) STACEY M. KAPLAN (Pro Hac Vice) SUSAN WHATLEY (Pro Hac Vice) ERIK D. PETERSON (Pro Hac Vice) BRAD E. SEIDEL (Pro Hac Vice) 580 California Street, Suite 1750 LISA P. BALDWIN (Pro Hac Vice) San Francisco, CA 94104 205 Linda Drive Tel: 415/400-3000 Daingerfield, TX 75638 Fax: 415/400-3001 Tel.: 903/645-7333 Fax: 903/645-4415 ROBBINS GELLER RUDMAN & DOWD LLP ARTHUR C. LEAHY (Pro Hac Vice) BRIAN O. O’MARA (SBN 8214) RYAN A. LLORENS (Pro Hac Vice) 655 West Broadway, Suite 1900 San Diego, CA 92101 Tel.: 619/231-1058 Fax: 619/231-7423 Lead Counsel for Plaintiffs [Additional counsel appear on signature page.] UNITED STATES DISTRICT COURT DISTRICT OF NEVADA In re MGM MIRAGE SECURITIES No. 2:09-cv-01558-GMN-VCF LITIGATION CLASS ACTION This Document Relates To: FIRST AMENDED COMPLAINT FOR VIOLATIONS OF FEDERAL SECURITIES ALL ACTIONS. LAWS 699690_1 Case 2:09-cv-01558-GMN -VCF Document 152 Filed 04/17/12 Page 2 of 92 Lead Plaintiffs, Arkansas Teacher Retirement System (“Arkansas Teacher”), Philadelphia Board of Pensions and Retirement (“Philadelphia”), Luzerne County Retirement System (“Luzerne”) and Stichting Pensioenfonds Metaal en Techniek (“PMT”) (collectively “Lead Plaintiffs” or “plaintiffs”) bring this securities fraud class action pursuant to the Securities Exchange Act of 1934 (the “Exchange Act”) against defendants MGM Mirage (now known as MGM Resorts International) (“MGM” or the “Company”), J. -
Lasvegasadvisor Issue 9 FOOTBALL CONTEST TIME Circa Million Takes on the Supercontest … Pgs
$5 ANTHONY CURTIS’ September 2019 Vol. 36 LasVegasAdvisor Issue 9 FOOTBALL CONTEST TIME Circa Million takes on the SuperContest … pgs. 1, 10 CREDIT CARD ADVANTAGE PLAY Big bonuses and 4% cashback … pg. 1 RESORT FEES ‘PRETTY HIGH’ So says casino boss … pg. 2 CASINO SUSHI New AYCE deal surprises … pg. 7 6-5 BLACK- JACK UNDER ATTACK Bostonians want full payouts … pg. 12 CASINOS Local (702) Toll Free Numbers • 2019 LVA MEMBER REWARDS • (800) (^844) (†855) (††866) (*877) (**888) Local Toll Free Aliante Casino+Hotel+Spa ........692-7777 ............477-7627* ACCOMMODATIONS DRINKS †† 2-For-1 Room (El Cortez) Free Drink Brewers, Kixx, or Havana Bar (Boulder Station); 3 Free Rounds Aria ............................................590-7111 ............359-7757 Arizona Charlie’s Boulder ..........951-5800 ............362-4040 (Ellis Island); Free Margarita (Sunset Station) Arizona Charlie’s Decatur ..........258-5200 ............342-2695 BUFFETS Bally’s ........................................739-4111 ............603-4390* 2-For-1 Buffet: (Aliante Casino+Hotel, Arizona Charlie’s Boulder, Arizona SHOWS Bellagio ......................................693-7111 ............987-7111** Binion’s ......................................382-1600 ............937-6537 Charlie’s Decatur, Cannery, Fremont, Main Street Station; 2-For-1 Buffet 2-For-1 Hypnosis Unleashed (Binion’s); 2-For-1 or 50% off one Righteous Boulder Station ..........................432-7777 ............683-7777 or 50% off one (Boulder Station, Fiesta Henderson, Fiesta Rancho, Gold Brothers -
Save the Eadth, Hug a Hotel
Dec. 21, 2008 Save the earth, hug a hotel The Las Vegas desert greener than you think BY ALEZA FREEMAN Vegas.com as Vegas is viewed by most as a city of excess. We seem to have and waste too much of everything: Food, lights, money, booze, Elvis impersonators. You may think our “We get a bad rap l concept of “going green” is drinking in Vegas as Sin City, tinted beer on St. Patrick’s Day. But truth be told, when it comes to Las Vegas, image is everything. but the reality is that Behind the scenes, many of the city’s biggest Las Vegas is an energy hotel conglomerates — including Harrah’s Entertainment, Las Vegas Sands Corp. and efficient city.” MGM Mirage — are working overtime to — Eric Dominguez, reduce their carbon footprint and become more Director of energy and environmental environmentally friendly. services for Harrah’s Entertainment “We get a bad rap in Vegas as Sin City, but the reality is that Las Vegas is an energy efficient city,” said Eric Dominguez, director of energy and environmental services for Harrah’s Entertainment. “For example, we lead the nation in terms of solar production per capita. And we’re constantly looking for ways to make things better.” Clockwise JUST LETTING OFF STEAM from top of recycle graphic: Like an underground city, the chiller and CityCenter, seen in boiler rooms at the Paris Las Vegas are located a rendering, will seek among a series of plain, conservatively lit LEED certification when hallways, tucked below the casino level. it opens in 2009; Rooms While there are certainly many sexier sights at the Palazzo have air conditioning controls that use in Las Vegas, these often unseen facilities are less energy when the rooms are empty; Many of the light actually the hotbed of energy savings at this bulbs in the casino at Paris Las Vegas are energy efficient. -
June 1999 Sales Professionals Jbusiness You DON"T HAVE to BE on 'WALL STREET 40UR~~1 to WORK on WALL ADVISORY BOARD of DIRECTORS Marys
N T R 0 D U C N G ... MACDONALD RANCH COUNTRY CLUB A RARE COMBINATION O F THE BEST THERE IS . THE SETIING IS ETERNAL. THE VIEWS EXTRAORDINARY. THE REWARDS UNEQUALED. MACDONALD RANCH COUNTRY (LUB .•• THE NEW, PRIVATE RESIDEN TIAL AND RECREATIONAL COMMUNITY UNLIKE ANY OTHER YOU WILL FIND IN GREATER lAS VEGAS. WITH A MASTER PLAN THAT HAS TAKEN OVER TEN YEARS TO PER FECT, TH IS DRAMATICAL LY DIFFERENT COMMUNI TY IS SITUATED ON 1200 ACRES NESTLED INTO THE McCOU..OUGH MOUNTAINS. e BREATHTAKING VIEWS AND SPACIOUS HOMESITES e A 24-HOUR MANNED GUARD GATE e AN 18-HOLE JAY MORRISH/ DAVID DRUZISKY DESIGNED PRIVATE GOLF COURSE e A PROPOSED CLUBHOUSE FEATURING A GOLF SHOP, SWIMMING POOL AND EXERCISE FACILITIES. e TENNIS COURTS ARE ALSO PLANNED AS WELL AS HIKING, BIKING AND WALKING PATHS THROUGHOUT THE COMMUNITY. CUSTOM HOMESITES FROM $135,000 HORIZON RIDGE AT VALLE VERDE TO OVER ONE MILLION. MAILING ADDRESS: 702-614-9100 ext. 006, MACDONALD PROPERTIES, LTD. 702-458-0001 ext. 006 OR 2920 N. GREEN VALLEY PARKWAY TOLL FREE 8 77-614-9 100 ext. 006. STE. 212 BROKER PARTICIPATION WELCOME. HENDERSON, NV 89014 Obtain and read the Public Offering Statement bef ore signing anything. Community Association fees and additional fees fo r golf are required. Go lf Course w ill be privat ely owned and operated. Golf Course privileges are subject t o acquisition of membership in private cl ub. Prices, rates and t erms are subject t o avai lability and may change without notice. Not all lifestyle phot os taken on property. -
Recession and Its Affect on the Las Vegas Hospitality Industry
UNLV Theses, Dissertations, Professional Papers, and Capstones 4-30-2009 Recession and its affect on the Las Vegas hospitality industry William Provance University of Nevada, Las Vegas Follow this and additional works at: https://digitalscholarship.unlv.edu/thesesdissertations Part of the Gaming and Casino Operations Management Commons Repository Citation Provance, William, "Recession and its affect on the Las Vegas hospitality industry" (2009). UNLV Theses, Dissertations, Professional Papers, and Capstones. 564. http://dx.doi.org/10.34917/1721617 This Professional Paper is protected by copyright and/or related rights. It has been brought to you by Digital Scholarship@UNLV with permission from the rights-holder(s). You are free to use this Professional Paper in any way that is permitted by the copyright and related rights legislation that applies to your use. For other uses you need to obtain permission from the rights-holder(s) directly, unless additional rights are indicated by a Creative Commons license in the record and/or on the work itself. This Professional Paper has been accepted for inclusion in UNLV Theses, Dissertations, Professional Papers, and Capstones by an authorized administrator of Digital Scholarship@UNLV. For more information, please contact [email protected]. Recession and Las Vegas 1 Running Head: RECESSION AND LAS VEGAS Recession and its affect on the Las Vegas Hospitality Industry William Provance University of Nevada – Las Vegas April 30, 2009 Recession and Las Vegas 2 TABLE OF CONTENTS Part One Introduction………………………………………………………………………. 4 Purpose…………………………………………………………………………… 5 Statement of objective……………………………………………………………. 5 Justifications…………………………………………………………………….... 5 Constraints………………………………………………………………………... 6 Glossary…………………………………………………………………………... 7 Part Two Introduction………………………………………………………………………. 9 Methodology……………………………………………………………………... 9 Literature Review………………………………………………………………… 10 Macroeconomic Environment: U.S. -
Las Vegas Casino & Hotel Market Outlook 2009
Las Vegas Casino & Hotel Market Outlook 2009 Shannon Okada, Associate Director, HVS Gaming Services HVS — Las Vegas HVS — LAS VEGAS 8170 W. Sahara Avenue, Suite 201 Las Vegas, NV 89117 United States of America +1 (702) 242-6723 OFFICE MAIN TELEPHONE HTTP://WWW.HVS.COM January 2009 New York San Francisco Boulder Denver Atlanta Miami Dallas Las Vegas Chicago Washington, D.C. Weston, CT Boston Mt. Lakes, NJ Mexico City Vancouver Toronto London Moscow Madrid Athens Dubai Mumbai New Delhi Singapore Hong Kong Beijing Shanghai São Paulo Buenos Aires Las Vegas Casino and Hotel Market Outlook 2009 Shannon S. Okada Associate Director Gaming Services Division, Vice President Consulting & Valuation HVS – Las Vegas Any previously held notion that the Las Vegas gaming-tourism industry is recession-proof was dispelled in 2008 as, to quote the Las Vegas Review Journal, “the imploding economy drove a stake though the heart of the Strip.” The downturn in the national and worldwide economies, and the resulting decrease in consumer consumption, has reduced visitation to the Las Vegas market in 2008 to levels not seen since 2004, which was prior to the opening of major properties including the Wynn Las Vegas, South Point, Red Rock Station, Palazzo, and Encore. As quality new supply is absorbed and operators have implemented strategies to compete for overnight guests to support gaming and other amenities, average daily room rate has dropped. The recession is prompting visitors and locals to gamble less. Challenging economic conditions, including the turmoil in the credit markets, have also resulted in a scaled-back development pipeline. -
Deconstructing a $1 Billion Disaster
White Paper 2011 Deconstructing a $1 Billion Disaster How implementing digital desktop project management technology can revolutionize the architecture, engineering and construction industry’s communication, efficiency and overall project completion. by Allison Way, Think Big Partners April 13, 2011 Deconstructing a $1 Billion Disaster How implementing digital desktop project management technology can revolutionize the architecture, engineering and construction industry’s communication, efficiency and overall project completion. Executive Summary When Lord Norman Foster & Partners designed the Although there is no conclusive way to eradicate human Harmon Hotel as a non-gaming boutique, spa center, and error in the architecture, engineering, and construction upscale resort at CityCenter Las Vegas, the company did (AEC) industry, there is a way to minimize it. not predict that the project would be cut in half…literally. In 2008, when detrimental flaws were discovered during inspection of the building, work on the Harmon Hotel was halted. After surveying many of the building’s defects, “Successful completion of a construction project depends on architects and designers had to backtrack and redesign the accurate, effective and timely communication, formation, and hotel, reducing it from forty-nine stories to twenty-eight. then exchange of critical information. To make this happen, elements of the AEC industry have started to move away from Due to the drastic design alterations, time constraints, traditional communication methods…and have started to rely budget cuts, and lack of communication, construction of heavily on online collaboration and project management (OCPM) the Harmon Hotel was delayed indefinitely and is to be technology.” demolished completely by 2012. Dr. Burçin Becerik1 Placing blame for the Harmon Hotel incident is near Harvard University School of Design impossible. -
Design Update
Design Update CREATING CITYCENTER MGM MIRAGE’s urbane and sustainable “city within a city” redefines Las Vegas CityCenter is for people who want the Las Vegas they’ve never seen before. Jim Murren, Chairman and CEO, MGM MIRAGE This is the future of Las Vegas—CityCenter is in an entirely different category. Bobby Baldwin, President and CEO, CityCenter CityCenter is the best example anywhere of a REINVENTING collaborative design process. Art Gensler, Founder and Chairman, Gensler LAS VEGAS Once a generation, Las Vegas reinvents itself. In the Rat Pack era, it embraced midcentury modernism. Then, The Mirage and Bellagio remade The Strip as an entertainment resort 12/16/09 destination. Early in this new century, MGM MIRAGE CityCenter Grand Opening envisioned a “city within a city”—a new symbol of Las Vegas that, in the words of CityCenter’s Bobby Baldwin, combines “the vitality of Las Vegas with the experiences tourists seek in great cities around the world.” In 2005, master plan in hand, MGM MIRAGE asked Gensler to join it and make CityCenter a reality. How our team helped reinvent Las Vegas is a case study in design leadership. Contents The vision 2Making it happen 14 The challenge 4Greening CityCenter 18 Design leadership 6The vision realized 22 Catalyst for ideas 8Project and team information 24 Branding the destination 10 Gensler Design Update CityCenter 1 CityCenter aims to transform Las Vegas as a new symbol at its core. Bobby Baldwin, President and CEO, CityCenter A CITY WITHIN A CITY THE VISION It took strong design leadership to bring the initial Bobby Baldwin on CityCenter: “This is one of the few CityCenter gives The Strip an urban core—a new plan and building program to a fully realized vision places in the world where we had a completely clean city-scale development that supports a rich, full, 24/7 of an urbane and dynamic place, the heart of a new canvas—and the resources for the best of everything life. -
Tropicana Avenue Corridor Study
P O R T A T N S I O N R A C T O L M A M I N S O I S I G O E N R OF SOUTHERN NEVADA TROPICANA AVENUE CORRIDOR STUDY Submitted By: MARCH 2008 THE Louis Berger Group, INC. TROPICANA AVENUE CORRIDOR STUDY THE REGIONAL TRANSPORTATION COMMISSION TABLE OF CONTENTS Chapter Page No. Chapter Page No. EXECUTIVE SUMMARY ..............................................................ES-1 6.0 ROADWAY IMPROVEMENT ALTERNATIVES ....................... 69 1.0 INTRODUCTION ....................................................................1 6.1 Construction of Intersection Improvements .................. 69 6.1.1 Construction of Dual Left Turn Lanes.............. 69 1.1 Overview of the Tropicana Avenue Corridor 6.1.2 Construction of Right Turn Lanes.................... 69 Within the Regional Transportation Network ..................1 6.1.3 Additional Intersection Improvements ............. 72 1.2 Corridor Description ........................................................3 6.1.4 Summary of Alternative 1.3 Planning Process ............................................................7 Intersection Improvements .............................. 73 1.4 Organization of Report ....................................................7 6.2 Construction of Raised Median..................................... 79 2.0 PURPOSE AND NEED................................................................8 6.3 Widening of Tropicana Avenue..................................... 80 6.3.1 Construction of a Fourth Westbound Lane 3.0 PLANNING FRAMEWORK .......................................................10 -
Las Vegas' Citycenter One of World's Largest Green Developments
LAS VEGAS’ CITYCENTER ONE OF WORLD’S LARGEST GREEN DEVELOPMENTS CityCenter, a Leader of Sustainable Urban Development, Driving Green Economies of Scale in Multiple Industry Segments LAS VEGAS – Created with a vision to bring a new level of environmental consciousness to the world-famous Strip, CityCenter is one of the world’s largest sustainable developments, from design and construction to operations and guest amenities. The U.S. Green Building Council has awarded LEED® Gold certification to ARIA Resort & Casino’s hotel tower, convention center and theater, Vdara Hotel & Spa, Mandarin Oriental, Las Vegas, Veer Towers and Crystals retail and entertainment district. This marks the highest LEED achievement of any hotel, retail district or residential development in Las Vegas. Using cutting-edge solutions, CityCenter has been able to grow responsibly without sacrificing the quality of materials or guest experience. Due to its size and purchasing power, CityCenter is driving green economies of scale in multiple industry segments, paving the way for other entities to build and operate sustainably. In November 2009, the Forest Stewardship Council- US (FSC-US®) honored CityCenter as the best commercial project of 2009 in the fifth annual Designing & Building with FSC Awards. CityCenter’s dedication to the use of sustainably harvested FSC-certified wood products is unprecedented in scale and resulted in a significant market transformation, including multiple wood suppliers receiving their FSC chain of custody certification to supply wood to the -
University of Nevada Las Vegas, Nevada
LasVegas, NV 07 v5 8/14/07 2:14 PM Page 1 University of Nevada Las Vegas, Nevada Strategies for Creating a University District in Clark County, Nevada April 29–May 4, 2007 An Advisory Services Panel Report ULI–the Urban Land Institute 1025 Thomas Jefferson Street, N.W. Suite 500 West Washington, D.C. 20007-5201 LasVegas, NV 07 v5 8/14/07 2:14 PM Page 2 About ULI–the Urban Land Institute he mission of the Urban Land Institute is to • Sustaining a diverse global network of local provide leadership in the responsible use of practice and advisory efforts that address cur- land and in creating and sustaining thriving rent and future challenges. T communities worldwide. ULI is committed to Established in 1936, the Institute today has more • Bringing together leaders from across the fields than 35,000 members from 90 countries, represent- of real estate and land use policy to exchange ing the entire spectrum of the land use and develop- best practices and serve community needs; ment disciplines. Professionals represented include developers, builders, property owners, investors, • Fostering collaboration within and beyond architects, public officials, planners, real estate ULI’s membership through mentoring, dia- brokers, appraisers, attorneys, engineers, financiers, logue, and problem solving; academics, students, and librarians. ULI relies • Exploring issues of urbanization, conservation, heavily on the experience of its members. It is regeneration, land use, capital formation, and through member involvement and information sustainable development; resources that ULI has been able to set standards of excellence in development practice. The Insti- • Advancing land use policies and design prac- tute has long been recognized as one of the world’s tices that respect the uniqueness of both built most respected and widely quoted sources of ob- and natural environments; jective information on urban planning, growth, and development. -
10624 OBD Newsletter 8.5X11.Indd
4TH QUARTER SEPTEMBER 2005 HENNESSEY >>2 HOGS & HEIFERS >>2 WHY DO BUSINESS IN LAS VEGAS >>3 NEW FACES >>4 Affordable Apartments Geared Toward Let’s take a Downtown Workers, Families closer look! On Wednesday, June 22, 2005, city officials developments. Citibank Community Development celebrated the grand opening of an innovative and Paramount Financial Group were integral Allure – North of Sahara and residential development for urban workers and forces behind the project, working closely with west of Las Vegas Boulevard, the city of Las Vegas, the state of Nevada and this 900-unit twin 39-story the developer to help expedite the development. condo tower will contain “L’Octaine is part of a concept that the council 35,000 s.f. of retail space. and I share with the Tom Hom Group, that we need to provide affordable, attainable housing for “juhl” – Soon to be located on our residents,” said Las Vegas Mayor Oscar B. the corner of Third street and Goodman. “These beautiful garden apartments Bonneville, this mixed-used will fill a need we have in our downtown for development will contain 355 housing that our workers, teachers and families residential units. can afford.” L’Octaine rises to three stories above a street Newport – This development level parking garage. The two ground floor retail will contain 168 residential units units in this mixed-use development are projected LʼOctaine with 6,159 s.f. of commercial at to be occupied in the fall. The property is close the southwest corner of Casino families in downtown Las Vegas. The opening of to the federal courthouse, the Fremont Street Center/Hoover.