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Press Release: LasVegas.com
November 21, 2002
LAS VEGAS, NV -- LasVegas.com launched yesterday as the destination's new Web site.
The only city-centric site owned by Las Vegas hotels, competitors with two-thirds of the Strip's landscape, the
new Web site includes all Las Vegas visitor-focused businesses and services. Powerful technology delivers up-to-the-moment
hotel rates in the Web's first side-by-side comparative display, along with show tickets, air travel, tours and
golf reservations. Comprehensive content offers insider tips and options that include weddings, spas, shopping,
dining, tours, history and local news.
Two Strip hotel and entertainment powerhouses collaborated to create LasVegas.com, convinced that a site named
"LasVegas.com" must be owned, operated and exclusive to Las Vegas suppliers and products, served by people
who know and love Las Vegas. Park Place Entertainment Corporation (NYSE:PPE - News) owns, operates or has an interest
in 28 casino resorts worldwide including Caesars Palace, Las Vegas Hilton, Flamingo Las Vegas, Paris Las Vegas
and Bally's Las Vegas. The Las Vegas portfolio of Mandalay Resort Group's hotels (NYSE:MBG - News) includes Mandalay
Bay Resort, Luxor, Excalibur, Circus Circus and Monte Carlo hotels.
Last year, 36 million people visited Las Vegas, half of them by air.
Nearly a quarter of them used the Internet to plan their trip, comparing options. The site design accommodates
both visitors who purchase air travel, and the 50% who drive. According to a 2001 study by PhoCusWright, the online
travel research firm, hotel bookings on the Internet will grow to $5.3 billion this year and $6.7 billion in 2003.
Jupiter Media Metrix, an Internet monitoring firm, forecasts that online bookings will account for nearly 19 percent
of all travel bookings by 2005, while PhoCusWright's outlook is even higher, at 29 percent. The site design accommodates
both visitors who purchase air travel, and the nearly 50% who drive.
The Las Vegas visitor is evolving; in addition to gaming and nightlife, there is great enthusiasm for luxurious
spas, celebrity chefs' restaurants, upscale shopping, extending business travel, family vacations and reunions.
Las Vegas also enjoys a remarkable share of the U.S. wedding market. The site serves demanding Las Vegas visitors
with clear options and variety at all price points.
Five elements distinguish LasVegas.com to the online customer:
At launch, LasVegas.com represents more than 130 hotels and motels on or near the Strip and Downtown, all major
airlines including Jet Blue and Southwest, over 100 shows, 300+ dining facilities, 30 top spas, over 40 hotel and
free-standing wedding chapels, 120 signature tours including Grand Canyon, Hoover Dam and desert tours, and six
unique golf courses, including the only golf course on the Strip.
Ensuring trusted local expertise, in addition to original content, the site incorporates visitor information from
the Las Vegas Convention & Visitors Authority; local news and background is provided by Nevada's largest newspaper,
the Las Vegas Review-Journal, which has licensed LasVegas.com to the two hotel companies. The site includes a direct
link to the newspaper's local Web site.
LasVegas.com is the most direct route everything to Las Vegas.
LasVegas.com is an online travel Web site licensed from Stephens Media intellectual Property, LLC, jointly operated
and equally owned by Mandalay Resort Group and Park Place Entertainment. Park Place Entertainment owns, manages
or has an interest in 28 gaming properties operating under the Caesars, Bally's, Flamingo, Grand Casinos, Hilton
and Paris brand names with a total of approximately two million square feet of gaming space, 29,000 hotel rooms
and 55,000 employees worldwide. Additional information on Park Place Entertainment can be accessed through the
company's web site at www.parkplace.com Mandalay Resort
Group owns and operates 11 properties in Nevada: Mandalay Bay, Luxor, Excalibur, Circus Circus, and Slots-A-Fun
in Las Vegas; Circus Circus-Reno; Colorado Belle and Edgewater in Laughlin; Gold Strike and Nevada Landing in Jean
and Railroad Pass in Henderson. The company also owns and operates Gold Strike, a hotel/casino in Tunica County,
Mississippi. The company owns a 50% interest in Silver Legacy in Reno, and owns a 50% interest in and operates
Monte Carlo in Las Vegas. In addition, the company owns a 50% interest in and operates Grand Victoria, a riverboat
in Elgin, Illinois, and owns a 53.5% interest in and operates MotorCity in Detroit, Michigan. Additional information
on Mandalay Resort Group can be accessed through the company's web site at www.mandalayresortgroup.com
NOTE: This press release contains "forward-looking statements" within the meaning of the federal securities
law, which are intended to qualify for the safe harbor from liability provided there under. All statements which
are not historical statements of fact are "forward-looking statements" for purposes of these provisions
and are subject to numerous risks and uncertainties that could cause actual results to differ materially from those
expressed or implied in the forward-looking statements. Forward-looking statements include all financial projections,
including projections of revenue, market share, earnings, EBITDA, free cash flow, statements of management's plans,
objectives or expectations of future economic performance, statements regarding new developments or opportunities,
statements of belief, and/or statements regarding anticipated construction, development, or acquisition. Additional
information concerning potential risk factors that could affect the company's future performance are described
from time to time in the company's reports filed with the Securities and Exchange Commission, including the company's
Annual Report on Form 10-K for the year ended December 31, 2001 and the company's quarterly reports on Form 10-Q
for the quarters ending March 31, 2002 and June 30, 2002. These reports may be viewed free of charge at the following
website: www.sec.gov. The company undertakes no obligation to publicly update any forward-looking statement, whether
as a result of new information, future events, or otherwise.
Las Vegas Visitor Internet Use Source: Las Vegas Visitor Profile, Fiscal Year 2001
Annual Report Prepared for Las Vegas Convention and Visitors Authority by GLS Research
----------------------------------------------
Contact:
Euro RSG Middleberg
Rosemary Ostmann, 212/699-2667
rosemary.ostmann@euroscg.com
or
LasVegas.com
Susan Wilson, 877/777-7534
swilson@lasvegas.com
Source: LasVegas.com