MGM Resorts International has sold the MGM Grand and Mandalay Bay casinos on the Las Vegas Strip for $2.5 billion. The properties have been acquired by a new joint venture formed by MGM Growth Properties and Blackstone Real Estate Income Trust.
With the lighting of its new marquee and hotel tower signs, Monte Carlo officially sheds its name this week for a new identity – Park MGM – making way for the resort set for completion later this year.
MGM Resorts International will debut its dynamic park, dining and entertainment district on the Las Vegas Strip April 4th, 2016. An eclectic blend of restaurants, bars and entertainment tucked into rich desert landscaping, The Park will become a central gathering place on The Strip’s west side connecting New York-New York and Monte Carlo resorts as well as the new 20,000-seat world-class T-Mobile Arena.
Southwest Airlines and MGM Resorts International today launched a strategic marketing alliance between the companies’ loyalty rewards programs, Rapid Rewards and M life. Members of both programs now can accrue Rapid Rewards Points toward free flights for qualifying stays at MGM Resorts’ Las Vegas properties while enjoying VIP perks during their Vegas vacations.
As part of its longstanding commitment to sustainability and its communities, MGM Resorts International has launched a new corporate social responsibility (CSR) website today – Earth Day. Branded to coalesce with MGM’s powerful CSR initiative, “Inspiring Our World”, the website details the Company’s advancements in diversity, community engagement and environmental responsibility.
Understanding the needs of the mobile user, MGM Resorts International collaborated with Cisco Systems to create a high-density Wi-Fi system designed to enhance the guest experience. The two companies have developed the highest-performing wireless LAN in the industry, allowing travelers with multiple wireless devices to enjoy quality Wi-Fi.
Royal Caribbean International and MGM Resorts International have announced a strategic relationship that will deliver extraordinary benefits to members of the hospitality companies’ loyalty programmes - Crown & Anchor Society and M life. The new relationship allows both companies to strengthen customer loyalty by providing more access and rewards at MGM Resorts’ world-renowned destinations in Las Vegas, Detroit and Mississippi and on Royal Caribbean International’s fleet of the world’s most innovative cruise ships that sail to exciting destinations worldwide.
MGM Resorts International and Morgans Hotel Group have announced an unprecedented partnership to introduce Delano Las Vegas, an all-suite hotel at Mandalay Bay.
Losses can pile up quick in Las Vegas, as MGM Resorts International is presently discovering with the Harmon Building. After failing to complete the project – once the planned centre piece of the £5.5 billion CityCentre hotel, shopping and apartment complex – MGM has finally opted to take the nuclear option and blow the property up.
MGM Resorts International’s Gold Strike Casino Resort Tunica will reopen its doors for business today – just two weeks after rising Mississippi River floodwaters forced a mandatory closure of all Tunica County’s nine casinos.
MGM Resorts International management will make a Company presentation Thursday, March 24th at the Barclays High Yield Bond and Syndicated Loan Conference in Orlando, Florida.
MGM Resorts International today announced that it has completed its previously announced issuance of $500 million in aggregate principal amount of 10% senior notes due 2016 at an issue price of 98.897%. The Company received approximately $486 million in net proceeds.