Mirage director selling stock

Thursday, March 11, 1999 | 11:41 a.m.

Richard Bronson, a Mirage board member and president of the company's New City Development division since 1992, filed a notice with the Securities & Exchange Commission saying he expected to receive $14,375,000 from the sale.

In his post with New City, Bronson has been responsible for certain corporate development activities outside Nevada. He couldn't be reached for comment Wednesday and the filing didn't disclose whether he still owns Mirage shares.

Bronson is the latest Mirage official to make substantial sales. Last year, Mirage Chairman Steve Wynn sold 7 million shares, using some of the proceeds to buy art displayed at the Bellagio Gallery of Fine Arts.

In December, Mirage director George Mason, who is also a senior managing director of Bear Stearns & Co., sold 14,000 shares.

Wynn's sales prior to the October opening of Bellagio raised eyebrows among securities analysts and institutional investors, who believe insider buying illustrates confidence in a company's future prospects but who may interpret sales differently.

Mirage stock closed at $19.9350 Wednesday, up 6.25 cents.