Statement From Terry Lanni, Chairman and CEO, MGM MIRAGE (NYSE: MGM), Regarding the Impact of Hurricane Katrina on Beau Rivage R
31 August 2005 - 11:29AM
PR Newswire (US)
LAS VEGAS, Aug. 30 /PRNewswire-FirstCall/ -- "The significant
damage sustained by Beau Rivage is part of a substantially larger
story of devastation in Gulfport and Biloxi. We must allow local,
state and federal authorities to do their work and ensure the
safety of the overall area. "Clearly, re-establishing basic
services and a sense of normalcy throughout the region must take
precedence over concerns for this interruption to our business.
This process will, in all likelihood, take months. "Robert Baldwin,
President & CEO of Mirage Resorts, is in the process of
establishing an assessment team that will evaluate damage at Beau
Rivage. Under his direction, that team will begin its work as soon
as authorities deem the area safe. It is likely this team's work
will take several weeks to complete. Once our damage assessment
process is complete, we can put in place an appropriate rebuilding
plan. "Our immediate focus is on the well-being of our employees
and their families. First and foremost, we hope to soon establish a
means of communicating with all Beau Rivage employees. We will
issue updates through the media as progress allows. "To our
employees: Your family, your homes and your community are the
priority right now. The best initial course of action for you to
aid in the recovery of the area is to closely follow the advice of
our local, state and federal authorities as they establish an
orderly recovery process. "Our thoughts and prayers are with all of
those impacted by Hurricane Katrina." DATASOURCE: MGM MIRAGE
CONTACT: James Murren, President and Chief Financial Officer,
+1-702-693-8877, or Alan Feldman, Senior Vice President of Public
Affairs, +1-702-891-7147, both of MGM MIRAGE
Copyright