MGM MIRAGE Chosen to Develop Regional Casino at Birmingham NEC, to Create Multimillion-Pound, 125-Year Regeneration Legacy for B
12 Dezembro 2005 - 10:00PM
PR Newswire (US)
BIRMINGHAM, England, Dec. 12 /PRNewswire-FirstCall/ -- The NEC
Group today announced that MGM MIRAGE (NYSE:MGM) has been chosen to
develop a unique multimillion-pound regeneration proposal that, if
awarded a license, promises to create a spectacular regional
entertainment casino complex -- MGM Grand at the NEC -- at the
National Exhibition Centre in Birmingham. The NEC conducted a
competitive bid between ten UK and international operators, which,
among other matters, demanded that the winning bidder demonstrate
best value for the community and operational excellence. MGM
MIRAGE, one of the most respected U.S.-based gaming and
entertainment companies, operates some of the world's most famous
hotels and casinos including MGM Grand, Bellagio and The Mirage in
Las Vegas. Subject to certain contingency provisions being met,
including local regulatory approval, applicable licensing, an
appropriate tax regime and requisite planning permissions, the
proposals are set to deliver up to 3,000 new operational and
construction jobs for Birmingham and Solihull. The project also
guarantees a multimillion-pound annual revenue stream, which the
City of Birmingham -- as the owners of the NEC Group -- would be
free to use to fund a whole range of regeneration schemes year
after year. Commenting on the proposal, Lloyd Nathan, Managing
Director, Europe for MGM MIRAGE Development, said: "We are
delighted to have won the NEC bid. We believe the NEC site provides
an excellent location and with our unparalleled experience, this
joint proposal anticipates creating a showpiece architectural
statement combining not just gaming, but also exciting, new
entertainment and dining experiences that will redefine the gaming
and leisure experience for the West Midlands and the United
Kingdom." With many visitors a day expected to visit a regional
casino, a key aspect of the NEC's appeal is that it is uniquely
placed to both attract and handle these additional visitors, some
of whom will already be visiting an NEC show. MGM MIRAGE will brand
the facility "MGM Grand at The NEC", utilizing one of its most
recognized brands throughout the world. The project will feature
more than 300,000 square feet of entertainment and leisure resort
space that will include a casino, an attractive and diverse range
of innovative dining experiences, a number of "high energy"
entertainment facilities and an adjacent multi-story car park. In
addition, the project may include a 300-room, four-star hotel. The
National Exhibition Centre (NEC) welcomes over four million
visitors each year to hundreds of trade and consumer shows
including Crufts, Gardeners World, The Clothes Show Live and the
international giftware show for which it first opened in 1976,
Spring Fair. The NEC is the UK's most successful exhibition venue
with over 40 percent of UK exhibitions held on the site every year
and it is also a successful player on the world stage being one of
the few international exhibition venues capable of staging major
global events such ITMA (The International Textile Machinery
Exhibition), which is one of the largest trade exhibitions -- and
the largest single sector trade show -- in the world. Delivering
1.3 billion pounds in economic impact and supporting up to 22,000
jobs, the NEC is an important engine for the West Midlands and
wider UK economy. It is owned by Birmingham City Council and the
Birmingham Chamber of Commerce and Industry with Birmingham City
Council receiving all of the financial benefit of the NEC's
operating performance and bearing the burden of interest charges
relating to its debts. MGM MIRAGE (NYSE:MGM), one of the world's
leading and most respected hotel and gaming companies, owns and
operates 24 properties located in Nevada, Mississippi and Michigan,
and has investments in four other properties in Nevada, New Jersey,
Illinois and the United Kingdom. MGM MIRAGE has also announced
plans to develop Project CityCenter, a multi-billion dollar
mixed-use urban development project in the heart of Las Vegas and
has a 50 percent interest in the MGM Grand Macau, a development
project in Macau S.A.R. MGM MIRAGE supports responsible gaming and
has implemented the American Gaming Association's Code of Conduct
for Responsible Gaming at its properties. MGM MIRAGE also has been
the recipient of numerous awards and recognitions for its
industry-leading Diversity Initiative and its community
philanthropy programs. For more information about MGM MIRAGE,
please visit the company's website at http://www.mgmmirage.com/.
Statements in this release which are not historical facts are
"forward-looking" statements and "safe harbor statements" under the
Private Securities Litigation Reform Act of 1995 that involve risks
and/or uncertainties, including risks and/or uncertainties as
described in the company's public filings with the Securities and
Exchange Commission. NOTES TO EDITORS: Pictures and a fly-through
animation video are available on request. DATASOURCE: MGM MIRAGE
CONTACT: James Murren, President and Chief Operating Officer,
+1-702-693-8877, or Alan Feldman, Senior Vice President of Public
Affairs, +1-702-891-7147, both of MGM MIRAGE Web site:
http://www.mgmmirage.com/
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