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EXHIBIT 99
FOR IMMEDIATE RELEASE: CONTACT: GLENN SCHAEFFER
(702) 632-6710
MANDALAY RESORT GROUP TO ISSUE SENIOR NOTES
LAS VEGAS, NEVADA -- August 9, 2000 -- Mandalay Resort Group (NYSE:MBG) today
agreed to issue $200 million 9-1/2% senior unsecured notes due August 1, 2008.
Subject to customary conditions, the transaction is expected to close on August
16, 2000. Proceeds from this offering will be used to repay a portion of the
company's borrowings under its revolving credit facility.
The notes, which will be issued in reliance on the exemption in
Section 4(2) of the Securities Act of 1933, have not been registered under
the Act and may not be offered or sold in the United States absent
registration under the Act or an applicable exemption from the registration
requirement.
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