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EXHIBIT 99
FOR IMMEDIATE RELEASE: CONTACT: GLENN SCHAEFFER
(702) 632-6710
MANDALAY RESORT GROUP TO ISSUE SENIOR SUBORDINATED NOTES
LAS VEGAS, NEVADA-- July 19, 2000 -- Mandalay Resort Group (NYSE:MBG) today
agreed to issue $500 million 10-1/4% senior subordinated unsecured notes due
August 1, 2007. Subject to customary conditions, the transaction is expected to
close on July 24, 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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