HVS Executive Search Presents CEOs of Mirage Resorts, Anchor Gaming with Awards for Top Performance in Gaming Industry

NEW YORK, October 20, 1997 - HVS Executive Search, a division of HVS International, honored Mirage Resorts, Inc. chairman and CEO Steve Wynn and Anchor Gaming chairman and CEO Stan Fulton with its annual "Aces of Gaming" award at the World Gaming Congress in Las Vegas last week. The award was presented by Keith Kefgen, president of HVS Executive Search.

Each year, Kefgen presents the award to the top gaming executives who offer the best value to investors based on a Pay-for-Performance Model he designed. The model compares CEO compensation to indicators such as stock appreciation, revenue growth and increases in earnings before interest, taxes, depreciation and amortization (EBITDA) to determine the top-performing CEO. Kefgen presents similar awards to top-performing lodging- and restaurant-industry leaders.

The gaming award was presented to Wynn for his performance as operator of the year and to Fulton as the top supplier to the gaming industry.

Over a three-year period ending December 1996, Mirage Resorts stock appreciated 193.18 percent. Anchor Gaming stock appreciated 192.73 percent over the same period.

HVS Executive Search is one of the few firms in the country that provides a wide range of human resources consulting services exclusively to the gaming, lodging and restaurant industries. Founded in 1992 by Kefgen, the firm offers retained executive search, compensation design and surveys, corporate governance counseling and employee opinion surveys. HVS International is one of the world's largest hospitality-industry consulting firms. Other services include feasibility and appraisal, environmental concerns, food and beverage, gaming, technology, asset management, operations, strategic planning and investment counsel. Offices are located in New York, Miami, San Francisco, Boulder, Colo., Vancouver and London.