Resort open to alternative uses for MGM Grand Adventures

Friday, July 28, 2000 | 10:50 a.m.

The owner of the MGM Grand hotel-casino is open to alternative uses for its 19-acre MGM Grand Adventures theme park, which opened with the property in 1993.

During a conference call Thursday with investors, MGM MIRAGE President Jim Murren said the park is "under review." The park has shrunk from 40 acres to 19 acres over the seven years the MGM Grand has been in operation.

But MGM MIRAGE Chairman Terry Lanni said the company remains pleased with the performance of the park, and said no definitive plans are currently being considered for an alternative use.

"It's a good asset for (visitor) traffic," Lanni said. "It would have to be something very special for that to change. But if something comes along, we'll certainly consider it."

Separately, Lanni announced Thursday that the company has finalized a deal with the Phillips Collection of Washington, D.C., to exhibit at the Bellagio Gallery of Fine Art. A display of 26 paintings, including works by Monet and Van Gogh, will open at the gallery Sept. 1, and will remain open through March 4. Ticket prices will be disclosed later this month.

"The Phillips Collection is one of the nation's premier art institutions, with a long-standing tradition of loaning exhibits to museums around the world," Feldman said. "Fundamental to their mission is creating exhibits which give the public the opportunity to experience great works of art in an intimate setting."

The gallery closed just hours before former Bellagio owner Mirage Resorts Inc. was acquired by MGM Grand Inc. Half of the art collection was removed by its owner, former Mirage Chairman Steve Wynn, while MGM MIRAGE began selling off the $200 million in art it acquired in the merger. MGM MIRAGE is now focusing on featuring rotating art exhibits at the gallery.