text:
Demand draft
From Wikipedia, the free encyclopedia
Jump to: navigation, search
A specimen demand draft.
A demand draft is a negotiable instrument similar to a bill of exchange. A bank issues a demand draft to a client (drawer), directing another bank (drawee) or one of its own branches to pay a certain sum to the specified party (payee).[1][2]
A demand draft can also be compared to a cheque. However, demand drafts are difficult to countermand. Demand drafts can only be made payable to a specified party, also known as pay to order. But, cheques can also be made payable to the bearer. Demand drafts are orders of payment by a bank to another bank, whereas cheques are orders of payment from an account holder to the bank.[1]
Contents
[hide]
1 Definitions and regulations by region
1.1 In United States
2 See also
3 References
Definitions and regulations by region[edit]
In United States[edit]
Demand drafts are also known as sight drafts, as they are payable when presented by sight to the bank.[2] Under UCC 3-104, a draft has been defined as a negotiable instrument in the form of an order.[2][3] The person making the order is known as the drawer and the person specified in the order is called the drawee, as defined in the UCC 3-103. The party who creates the draft is called the maker and party who is order to pay is called the drawee.[2][4]
In US, remotely created cheques are also called demand drafts. Remotely created cheques are orders of payment created by the payee and authorized by the customer remotely, using a telephone or the internet by providing the required information including the MICR code from a valid cheque. They do not bear the signatures of the customers like ordinary cheques. Instead, they bear a legend statement "Authorized by Drawer". This type of instrument is usually used by credit card companies, utility companies, or telemarketers. Remotely created cheques are susceptible to fraud.[5][6]
See also[edit]
Cashier's check
Money order
Traveler's cheque
References[edit]
^ Jump up to: a b S S Gulshan (1 January 2009). Business Law. Excel Books India. p. 285. ISBN 978-81-7446-689-1. Retrieved 1 January 2015.
^ Jump up to: a b c d Roger Miller; Gaylord Jentz (26 September 2007). Cengage Advantage Books: Business Law Today: The Essentials. Cengage Learning. p. 417. ISBN 0-324-65454-5. Retrieved 1 January 2015.
Jump up ^ "Uniform Commercial Code: 3-104 Negotiable Instrument". Legal Information Institute. Retrieved 1 January 2015.
Jump up ^ "Uniform Commercial Code: 3-103 Definitions". Legal Information Institute. Retrieved 1 January 2015.
Jump up ^ The Code of Federal Regulations of the United States of America. U.S. Government Printing Office. 2006. pp. 662–663. Retrieved 1 January 2015.
Jump up ^ "Remotely Created Checks". Federal Financial Institutions Examination Council. Retrieved 1 January 2015.
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The Mirage
From Wikipedia, the free encyclopedia
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This article is about the hotel. For other uses, see The Mirage (disambiguation).
This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (June 2008) (Learn how and when to remove this template message)
The Mirage Resort and Casino
Location
Las Vegas Strip, Paradise, Nevada
Address
3400 South Las Vegas Boulevard
Opening date
November 22, 1989; 28 years ago (November 22, 1989)
Theme
Polynesia
No. of rooms
3,044
Total gaming space
100,000 sq ft (9,300 m2)
Permanent shows
Terry Fator
The Beatles: LOVE
Signature attractions
The Volcano
Dolphin Habitat
The Secret Garden
Notable restaurants
Japonais
STACK
Fin
TOM COLICCHIO'S HERITAGE STEAK
Portofino
Samba Brazilian Steakhouse
Owner
MGM Resorts International
Architect
Joel Bergman
Coordinates
36°07′16″N 115°10′31″W / 36.12111°N 115.17528°W / 36.12111; -115.17528Coordinates: 36°07′16″N 115°10′31″W / 36.12111°N 115.17528°W / 36.12111; -115.17528
Website
mirage.com
The Mirage is a 3,044 room Polynesian-themed resort and casino resort located on the Las Vegas Strip in Paradise, Nevada, United States. The resort was built by developer Steve Wynn and is currently owned and operated by MGM Resorts International.
The original marquee sign in front of the Mirage is the largest free standing marquee in the world. The resort is connected by a free tram to the Treasure Island Hotel and Casino neighboring the hotel's property to the north.
Contents
[hide]
1 History
1.1 Construction
1.2 Name
1.3 Early years
1.4 Recent years
2 Attractions
3 Sporting events
4 Appearances in film
5 See also
6 References
7 External links
History[edit]
Construction[edit]
Built environment: The Mirage seen from The Venetian, 2008, showcasing the Beatles-themed Love show.
The Mirage was built by developer Steve Wynn and designed by Joel Bergman[citation needed] and Roger Thomas.[1] It was built on the site formerly occupied by the Castaways and prior to that, the Red Rooster Nite Club.
The Mirage was proposed with an initial cost of $565 million.[2] Financier Michael Milken helped finance the project by selling $525 million worth of mortgage bonds.[3] The Mirage was the first resort that was built with the money of Wall Street through the use of junk bonds.[citation needed] The project went over budget,[2] and was the most expensive hotel-casino in history, with a construction cost of US $630 million.[4] The hotel's distinctive gold windows get their color from actual gold dust used in the tinting process.
The Mirage's construction is considered noteworthy in that Wynn had set a new standard for Vegas resorts, and is widely considered to be the father of today's Las Vegas. Prior to The Mirage's opening, the city was experiencing a decline in tourism that began in the 1970s, especially around the time that the state of New Jersey legalized gambling and tourists (in particular those on the East Coast) began to frequent the casinos of Atlantic City. Also, this was a time when Las Vegas was no longer considered a fashionable destination, so a new, high-profile, project was necessary to jump-start the ailing industry.[2] Wynn planned for the resort to feature boxing matches to compete against the Las Vegas Hilton and the adjacent Caesars Palace.[5]
Name[edit]
Wynn initially considered naming the resort the Golden Nugget,[2] after his Golden Nugget hotel-casino in downtown Las Vegas. However, Wynn and others involved with the new resort knew that it would need a different name; otherwise, they believed that the two properties would become known as "the old one" and "the new one." Wynn chose "The Mirage" because of the resort's South Pacific theme. In 1988, to avoid confusion, Wynn purchased the rights to the Mirage name from two other businesses, the La Mirage Casino and the Mirage Motel. Both businesses received $250,000 to change their names.[5][2]
Early years[edit]
A white tiger in the Mirage habitat.
The Mirage, initially scheduled for an opening in early December 1989,[5] was opened early on November 22, 1989.[2] At the time of its opening, The Mirage was the largest hotel in the world, with 3,044 rooms. The hotel tower, standing 29 stories, was built out in a Y-shape design, a concept that was later copied by Las Vegas' Treasure Island, Monte Carlo, and Mandalay Bay resorts. The hotel's top five floors were used exclusively for high roller rooms and penthouse suites. The Mirage was the first new resort to be built on the Las Vegas Strip in 16 years,[3] after the completion of the MGM Grand in 1973.[2] When it opened, The Mirage was the first casino to use security cameras full-time on all table games.[6]
Starting in February 1990, The Mirage was the venue for the Siegfried & Roy show, held in the resort's 1,500-seat showroom.[3] The two headliners combined magic and the use of wild animals. The show closed in 2003 after performer Roy Horn was bitten and injured by one of the white tigers used in the show.
In 1993, The Mirage hosted an extended run of the Cirque du Soleil show Nouvelle Expérience in a tent in The Mirage parking lot. It was during this time that Steve Wynn decided to invite Cirque to create Mystère for the soon-to-be-built Treasure Island resort next door. Finally returning to where they began in Las Vegas, Cirque du Soleil has a permanent production at The Mirage, LOVE.[7]
As of 1999, The Mirage had 6,000 employees. At that time, Wynn was investing $100 million into the resort to build two theaters and to add 130,000 sq ft (12,000 m2) of convention space. On March 7, 2000, MGM Grand Inc. acquired Wynn's company, Mirage Resorts, for $4.4 billion.[8]
In March 2000, Danny Gans started performing at the resort. Prior to that time, Gans performed at the Rio Hotel and Casino.[2] Gans took over the marquee in 2004, becoming the resort's main entertainment attraction. In December 2006, the Beatles-themed REVOLUTION ultra-lounge opened. It was the first time Cirque du Soleil was involved in the development of a nightlife venue, operated by The Light Group.
Recent years[edit]
Gans left The Mirage in February 2009 to star in a show at the Encore Las Vegas.[9] In 2009, ventriloquist and 2007 America's Got Talent winner Terry Fator began a 5-year run at the hotel.[citation needed] Also in 2009, The Mirage was featured on The Amazing Race 15, where one team member had to bungee the other into the air to grab a bouquet of flowers presented in the Love theater.
In November 2012 The Mirage casino became the second Las Vegas casino to offer Geoff Hall's Blackjack variant Free Bet Blackjack, after the Golden Nugget Casino.[10] In 2014, The Mirage was featured in The Amazing Race 24, where teams had to replace the lightbulbs in the letter 'I' in 'Mirage'.[citation needed]
In 2015 MGM Resorts International announced that it would place the Mirage and other properties into a real estate investment trust. MGM would continue to operate The Mirage.[11]
Attractions[edit]
LOVE entrance at the Mirage
Notable features include:
Siegfried & Roy's Secret Garden and Dolphin Habitat. The Secret Garden was designed by Manny Caamano. During July 2017, the habitat announced the successful birth of a dolphin calf.[12]
An artificial volcano along the Strip that "erupts" nightly at 7PM and 8PM, plus 9PM on Friday and Saturday. After sister property Bellagio opened, the design firm WET Enterprises improved the technology behind the volcano effect to make it more spectacular in 1996. To avoid the smell of uncombusted natural gas odorant, the mercaptan is stripped from the natural gas and a pina colada fragrance is added to the natural gas stream. The Volcano closed for a second and more elaborate renovation in February 2008 and reopened on December 8, 2008. A new soundtrack, complete with the sounds of actual volcanoes erupting, and featuring the work of Grateful Dead drummer Mickey Hart,[13] has been included for an even more enhanced experience.
An atrium at the hotel entrance features a large number of palm trees, water features, and other "rainforest" flora.
The 53-foot-long (16 m), 8-foot-tall (2.4 m) aquarium behind the registration desk is home to nearly 1000 specimens.
LOVE, a Cirque du Soleil theatrical production involving remixes of The Beatles.
Terry Fator is a current showcase after winning America's Got Talent.
"1OAK", a 16,000-square-foot (1,500 m2) nightclub with a New York theme.[14][15] The venue features 2 separate areas and regularly hosts events.[16]
"Bare", a poolside lounge in which guests can go topless.[17][18] While men are welcome, this attraction is mainly promoted for women and they are allowed in the lounge for $10–$20 as opposed to the charge for men of $20–$40. One must be 21 years or older to enter.[19]
The Mirage's front attraction, the Volcano, erupts regularly at night
Aquarium behind the registration desk
Cirque du Soleil Show Theatre Mirage Hotel
The dome over the Mirage atrium
Sporting events[edit]
December 7, 1989 - Sugar Ray Leonard vs. Roberto Durán 3
October 25, 1990 - Evander Holyfield vs. Buster Douglas
May 18, 1996 - Félix Trinidad vs. Freddie Pendleton
Appearances in film[edit]
The poker room at The Mirage was the dream destination of Matt Damon's character in the movie Rounders.
The movie Vegas Vacation was filmed mainly at The Mirage.
The Mirage is parodied in at least three video games: Grand Theft Auto: San Andreas as 'The Visage', Need For Speed: Carbon as 'The Mirror', and Hitman: Blood Money as 'The Shamal'.
The Mirage was one of the three casinos that Danny Ocean and his crew robbed in the 2001 version of the film Ocean's Eleven.
A scene from Steve Martin's Sgt. Bilko was shot at The Mirage.
The movie Pure Country featuring George Strait features scenes from The Mirage.
The show Criss Angel: Mindfreak sometimes takes place here.
Cher's 1991 CBS special Cher Extravaganza: Live at the Mirage was taped during stops of the singer's 1990 Heart of Stone Tour.
The volcano attraction at the front of the casino was briefly used in the 1997 film Volcano.
The 2009 film 2012 featured the Mirage several times; one in a destroyed Vegas.
A scene from the 2013 film The Wolf of Wall Street features the Mirage during Jordan Belfort's bachelor's party, the event takes place in 1991.
The Mirage was featured in The Amazing Race 15 and The Amazing Race 24.
See also[edit]
List of largest hotels in the world
References[edit]
Jump up ^ Abramovitch, Ingrid (July 8, 2014). "A Las Vegas Casino Design Mastermind Shares His Secrets". Elle Decor. Retrieved February 27, 2017.
^ Jump up to: a b c d e f g h "Wynn credits staff for success". Las Vegas Review-Journal. November 22, 1999. Archived from the original on December 26, 2002.
^ Jump up to: a b c Smith, Hubble (November 22, 1999). "The Mirage Was For Real". Las Vegas Review-Journal. Archived from the original on December 20, 2002.
Jump up ^ Joyce Kim, Jung-Eun. "Sunrise, sunset? Comparing the Las Vegas and Macao gaming markets in 2010". University of Nevada, Las Vegas. Retrieved 10 July 2014.
^ Jump up to: a b c "$500,000 gambled on a name: Casino executive pays heavily for a 'Mirage'". The Palm Beach Post. December 11, 1988. Retrieved February 27, 2017.
Jump up ^ Arnold M. Knightly (February 25, 2007), Blink and you'll miss him, Las Vegas Review-Journal, Page 1E.
Jump up ^ Norm Clarke (June 17, 2003). "`Mystere' worker recalls uncertain times during show's birth". Las Vegas Review-Journal. Retrieved June 28, 2008.
Jump up ^ http://www.nytimes.com/2000/03/07/business/mgm-grand-to-acquire-mirage-resorts-for-4.4-billion.html
Jump up ^ Danny Gans to star in the new Encore theatre in 2009
Jump up ^ ThePOGG (25 November 2012). "ThePOGG Interviews - Geoff Hall - creator of Blackjack Switch".
Jump up ^ Stutz, Howard (October 29, 2015). "MGM Resorts to form REIT using 10 properties". Las Vegas Review-Journal. Retrieved February 5, 2016.
Jump up ^ https://www.usnews.com/news/best-states/nevada/articles/2017-07-31/las-vegas-casino-resort-announces-birth-of-dolphin-calf
Jump up ^ http://mirage.com/attractions/volcano.aspx
Jump up ^ "1OAK at The Mirage page". Vegas.com. Retrieved 2015-01-30.
Jump up ^ "1OAK at The Mirage page". LasVegas.com. Retrieved 2015-01-30.
Jump up ^ "1OAK Website page". 1OAK,com. Retrieved 2015-01-30.
Jump up ^ Snow, Michelle. "Bare Pool Opens at The Mirage". Las Vegas Travel Guide. April 2, 2007.
Jump up ^ "Mirage’s Bare Adult Pool Opens Tomorrow". March 11, 2009. VegasHotelPools.com.
Jump up ^ Bare website
External links[edit]
Wikimedia Commons has media related to The Mirage hotel (Las Vegas).
Mirage.com – Official website
Bare at the Mirage
1 OAK – Mirage Nightclub
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China
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Nevada Landing
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Under construction
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Retrieved from "https://en.wikipedia.org/w/index.php?title=The_Mirage&oldid=814256191"
Categories:
1989 establishments in Nevada
Landmarks in Nevada
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