LAUGHLIN, NV— MGM Mirage has entered into an agreement to sell its Colorado Belle and Edgewater hotel-casinos here to a group led by Anthony Marnell III for $200 million. MGM Mirage acquired the properties in April 2005 as part of its acquisition of Mandalay Resort Group. The two properties have a combined 2,535 guestrooms and138,000 square feet of casino space on 57 acres along the Colorado River. The transaction is expected to close by the second quarter of 2007. Banc of America Securities acted as financial advisor to the Marnell group.
