Morgans Hotel Group Co. MHGC, today announced that it has entered into a
definitive agreement to purchase a 90% controlling interest in The Light Group, a leading lifestyle food and beverage company currently operating
numerous venues for MGM Resorts International ("MGM"). This acquisition,
while being immediately accretive to the Company's earnings, also provides
Morgans with a first class food and beverage platform, a creative and
experienced management team, and renowned brand names.
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