MGM Mirage to Close Mandalay Acquisition Soon

MGM Mirage (MGG Quote) expects to close its acquisition of Mandalay Resort Group (MBG Quote) as early as Monday.

The last remaining hurdle for the $7.90 billion deal is Illinois regulatory approval. The Illinois Gaming Board plans to hold a hearing Thursday, and MGM Mirage executives say they're confident the board will give the merger a thumbs-up at the hearing.

The board will decide whether to allow the two casino companies to put Mandalay's Grand Victoria Casino in Elgin, Ill. into escrow while they await a new license for the property.

It would take another two business days -- until Monday -- to close the merger, said the executives, who were speaking in MGM Mirage's first-quarter earnings call.

Until last month, the Illinois Gaming Board lacked enough members to conduct business.

MGM Mirage announced strong results Tuesday.