Morgans Hotel Group to Acquire Leading Lifestyle Food and Beverage Company - The Light Group

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

27% profits every 20 days?

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