Exhibit 99.2
March 22, 2005
VIA FACSIMILE
Yvette E. Landau, Esq.
Mandalay Resort Group
3950 Las Vegas Boulevard South
Las Vegas, NV 89119
Re: Agreement and Plan of Merger (the “Merger Agreement”) dated as of
June 15, 2004 among MGM MIRAGE, Mandalay Resort Group and
MGM MIRAGE Acquisition Co. #61 – Extension of Outside Date
Dear Yvette:
This letter shall memorialize MGM MIRAGE’s irrevocable election to extend the Outside Date to June 30, 2005, in accordance with Section 7.01 of the Merger Agreement, as MGM MIRAGE is awaiting receipt of approvals and consents under Gaming Laws in Michigan and Illinois. Capitalized terms not otherwise defined herein shall have the meanings afforded such terms in the Merger Agreement.
| Very truly yours, | |
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| /s/ Gary N. Jacobs |
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| Gary N. Jacobs |
cc: | J. Terrence Lanni |
| James J. Murren |
| Marc S. Rosenberg, Esq. |
| Scott A. Barshay, Esq. |