ZZZ - GMG - VEGAS INC 2011-2014

In business courts high court dismisses shareholders' suit against MGM Resorts By Cy Ryan staff writer CARSON CITY — The Nevada Supreme Court rejected the appeal of two unhappy shareholders of MGM Resorts International who complained that current and former officers and directors, including the late Gov. Kenny Guinn, conducted illegal insider trading. The court said last month that Charles Kim and Sanjay Israni failed to follow rules that require making a demand on the company's board of directors to consider or take action on the alleged problems before filing suit. Kim and Israni maintain that a demand on the board of directors before filing suit would have been futile. But attorneys for the company and the directors said the requirement to serve a demand on the directors "serves to weed out baseless lawsuits and to encourage shareholders to try to resolve their grievances using intracorporate remedies, like the pre-suit demand, be- fore bring suit." Kim and Israni claimed officers and directors breached their fiduciary duties in connection with CityCenter. Their suit claimed the costs of the project skyrocketed to $9.2 billion and that directors withheld information about cost overruns from the public. The proj- ect nearly drove the company to bankruptcy, according to the suit. But before the bottom dropped out, some officers and directors privy to MGM's financial instability sold their stock at "near all-time high profits, collectively reaping close to $81.5 million in proceeds," the court brief said. In addition to Guinn, defendants named in Kim and Israni's suit were Willie Davis, Alexis Herman, Roland Hernandez, Kirk Kerkorian, Anthony Mandekic, Rose McKinney-James, Daniel Taylor, Melvin Wolzinger, Robert Baldwin, Gary Jacobs, James Murren, J. Terrance Lanni and Daniel D'Arrigo. ? gaming complaint filed against Bally Technologies By Cy Ryan staff writer CARSON CITY — The Nevada Gaming Control Board has filed a 28-count complaint against Bally Technologies, accusing the slot machine operator of failing to register its employees with the state. State law requires an employee to be registered with the state before working in gaming operations. Many of the counts in the complaint — filed on Christmas Eve — claim that the registrations were a few weeks or months late. One count applies to a worker who was employed for 10 years, from 2003 to 2013, before being registered. Most of the unregistered employees were engineers. The complaint noted that Bally paid a $65,000 fine in 2008 for failing to register 56 gaming workers. In the complaint, the board said this was an unsuitable method of operation and grounds for disciplinary action. The board asks the state Gaming Commission to impose a fine for each of the 28 violations and take action against the license of Bally. Bally has a chance to contest the complaint. In most cases, a settlement is reached before a hearing before the commission. | 13 JANUARY 2014 20140113_VI09_F.indd 9 | As a community, we're working hard to make sure that Southern Nevada has a reliable water supply so that our businesses, families and neighborhoods can continue to thrive. Because life here just wouldn't be the same without it. Let's stay water smart, Southern Nevada. Learn more at snwa.com. The Southern Nevada Water Authority is a not-for-profi t agency. Job #: PM_89325.01 Ref #: 088336.01 Client: SNWA Desc: SNWA Value of Water LIFE Print Ad Size: 7.08" x 9.25" Island Color: CMYK Fonts: Helvetica Neue Lt Std Pub: Vegas Inc, Date: 1/3/14 Version: 1 AE: AE, BT CD/ACD: RL AD: DV GD: TG Traf: AU Notes: Tom 1/6/14 loaded 9 1/9/14 2:57:54 PM

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