MGM MIRAGE Forms New Luxury Resort Subsidiary to Pursue Global Opportunities for Hotel Brands
29 Maio 2007 - 10:30AM
PR Newswire (US)
Experienced hotelier Gamal Aziz will lead company's expansion of
luxury brands internationally LAS VEGAS, May 29
/PRNewswire-FirstCall/ -- MGM MIRAGE (NYSE:MGM) announced today the
formation of MGM MIRAGE Hospitality, LLC, a new corporate
subsidiary principally focused on extending the company's renowned
hotel brands and developing new luxury hotel brand concepts for
destinations in the U.S. and abroad. MGM MIRAGE Hospitality will
initially work with recently announced joint venture partners
Mubadala Development Company of Abu Dhabi and Diaoyutai State
Guesthouse of Beijing to explore hospitality business opportunities
in various international markets. Currently, the new entity is
exploring opportunities in Abu Dhabi, the United Kingdom and Las
Vegas with Mubadala, and in the People's Republic of China with
Diaoyutai. The MGM MIRAGE joint venture relationship with the
Mashantucket Pequot Tribal Nation will also fall under the auspices
of this newly formed subsidiary. "Our company is very optimistic
about the growth potential of our new international relationships,"
said Terry Lanni, Chairman and CEO of MGM MIRAGE. "We hold in our
company portfolio some of the best-known, most highly regarded
luxury hotel brands in the world. We can also benefit from the
enormous wealth of development experience our team can bring to new
concepts. We feel confident that experienced world travelers will
be eager to experience our trademark hospitality in world cities
beyond our existing gaming destinations." In addition to his duties
as President & Chief Operating Officer of MGM Grand Las Vegas,
Gamal Aziz has been named to lead this new subsidiary as President
and Chief Executive Officer of MGM MIRAGE Hospitality, LLC. "Gamal
is uniquely qualified to lead our growth and brand expansion
internationally," Mr. Lanni continued. "His knowledge of worldwide
luxury hotel operations and development, combined with his record
in delivering quality resort products and guest services will drive
our efforts as we pursue new global development opportunities." Mr.
Aziz possesses extensive hotel and gaming resort management
experience and is recognized as a leader in the hospitality
industry. He was appointed in 2001 as President and COO of MGM
Grand Las Vegas and has overseen a dramatic multi-year evolution of
the property. Under his leadership, MGM Grand garnered more AAA
Diamond awards in 2007 than any other resort in the world, among
them AAA Five Diamond designations for both the luxurious SKYLOFTS
all-suite hotel and the eponymous Joel Robuchon restaurant. Mr.
Aziz was named "Nevada Hotelier of the Year" in 2005 and was named
one of the "Top 10 Most Influential People in Las Vegas" by the Las
Vegas Review-Journal newspaper in 2006. Previously, Mr. Aziz served
as Senior Vice President of Food and Beverage at Bellagio, playing
a significant role in the development and opening of that resort.
Mr. Aziz has also served in senior management positions with some
of the nation's most prominent hotel and gaming properties,
including Caesars Palace Las Vegas, the Plaza in New York and the
St. Francis in San Francisco. Mr. Aziz received his Bachelor of
Science in Business Administration from the University of Cairo in
Egypt. MGM MIRAGE (NYSE:MGM), one of the world's leading and most
respected hotel and gaming companies, owns and operates 19
properties located in Nevada, Mississippi and Michigan, and has
investments in three other properties in Nevada, New Jersey and
Illinois. The Company has entered into an agreement to sell its
Colorado Belle and Edgewater properties located in Laughlin,
Nevada. In addition, the Company has major new developments under
construction in Nevada, Michigan and Macau S.A.R. CityCenter is a
multi-billion dollar mixed-use urban development in the heart of
the Las Vegas Strip; a new MGM Grand hotel and casino complex is
being built in downtown Detroit; and the Company has a 50% interest
in MGM Grand Macau, a hotel-casino resort currently under
construction 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. DATASOURCE: MGM MIRAGE CONTACT: Investment
Community, James J. Murren, President, Chief Financial Officer
& Treasurer, +1-702-693-8877, or Media, Alan M. Feldman, Senior
Vice President of Public Affairs, +1-702-891-7147, , both of MGM
MIRAGE Web site: http://www.mgmmirage.com/
Copyright
MGM Resorts (NYSE:MGM)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
MGM Resorts (NYSE:MGM)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024