NATIONAL HARBOR, Md., May 9, 2013
/PRNewswire/ -- MGM National Harbor, a subsidiary of MGM Resorts
International (NYSE: MGM), today filed a proposal for a license
from the State of Maryland Video Lottery Facility Location
Commission to develop a world-class destination resort in
Prince George's County.
The proposed MGM site would be constructed on more than 20 acres
of land at National Harbor, the beautiful waterfront development on
the shores of the Potomac River in Prince
George's County, just south of Washington, D.C., near the Woodrow Wilson
Bridge.
At an event prior to filing the proposal, Lorenzo Creighton, President and Chief Operating
Officer of MGM National Harbor, emphasized MGM's commitment and
desire to partner with Prince George's
County and the State of
Maryland.
"We have said all along, our company will work tirelessly to
earn the privilege to operate this license. We will earn it based
on our company's experience and expertise. We are confident our
proposal demonstrates we are the clear choice to bring a
world-class destination resort to National Harbor.
"Our proposal incorporates feedback we received from the
community of which we hope to soon become a part. We will also make
good on promises we've made to create thousands of new local jobs,
provide enormous economic benefits to the region, and maintain our
proven commitment to corporate social responsibility," Mr.
Creighton said.
MGM executives project that the proposed MGM Destination Resort
at National Harbor would create thousands of construction and
permanent jobs. Many of these jobs will be filled by Maryland residents, creating career
opportunities, especially for those living in Prince George's County.
Mr. Creighton added, "Supplier diversity is an integral part of
the MGM Resorts corporate culture and a vital element of our
success. As a Maryland license
operator, we would embrace inclusive business practices in all
areas, including contracting, procurement, employment and
ownership. Our company realizes that both Prince George's County and Maryland are rich with capable minority
business enterprises already possessing the capacity to
significantly contribute to our project. We commit to working not
only with these established businesses, but also to encourage the
development of others seeking to increase their capacity or earn
MBE certification."
Jim Murren, Chairman and CEO
of MGM Resorts International, stated, "I have been personally
involved in our efforts in Maryland since the beginning. I am
particularly proud of what we have submitted for the Commission's
consideration. We have called upon our company's years of worldwide
resort experience to design a fully-appointed destination resort
that specifically respects the atmosphere of Prince George's County and meets the needs of
the Maryland marketplace.
"An MGM property at National Harbor would be designed and
operated at the same level of quality as our other iconic hotels,
including Bellagio, MGM Grand, Mandalay Bay, ARIA and The
Mirage."
The design and amenities of MGM National Harbor have been shaped
to reflect the history and geography of the area, complementing the
already successful development and increasing its allure to
out-of-state visitors. Like all of our company's resorts, we
will embrace luxury retail, world-class entertainment, fine dining
and fun, casual eateries from the world's greatest chefs.
Submittal of the proposal is the first step in Maryland's application and licensing process.
Based on the schedule outlined by the Location Commission, the next
step will be for MGM to be called to make an oral presentation
about the company's proposed facility to the Commission sometime
later this summer.
About MGM Resorts International
MGM Resorts International (NYSE: MGM) is one of the world's
leading global hospitality companies, operating a portfolio of
destination resort brands including Bellagio, MGM Grand, Mandalay
Bay and The Mirage. The Company also owns 51% of MGM China Holdings
Limited, which owns the MGM Macau resort and casino and is in the
process of developing a gaming resort in Cotai, and 50% of
CityCenter in Las Vegas, which
features ARIA resort and casino. For more information about
MGM Resorts International, visit the Company's website at
www.mgmresorts.com.
Statements in this release that are not historical facts are
forward-looking statements involving risks and/or uncertainties,
including those described in MGM Resorts International's public
filings with the Securities and Exchange Commission. MGM
Resorts International and MGM National Harbor have based
forward-looking statements on management's current expectations and
assumptions and not on historical facts. Examples of these
statements include, but are not limited to, statements regarding
the ability of MGM Resorts International and MGM National Harbor to
develop a casino in National Harbor. These forward-looking
statements involve a number of risks and uncertainties. Among the
important factors that could cause actual results to differ
materially from those indicated in such forward-looking statements
include effects of economic conditions and market conditions in the
markets in which MGM Resorts International and MGM National Harbor
operate and competition with other destination travel locations
throughout the United States and
the world, the design, timing and costs of expansion projects,
risks relating to international operations, permits, licenses,
financings, approvals and other contingencies in connection with
growth in new or existing jurisdictions and additional risks and
uncertainties described in MGM Resorts International's Form 10-K,
Form 10-Q and Form 8-K reports (including all amendments to those
reports). In providing forward-looking statements, neither MGM
Resorts International nor MGM National Harbor is undertaking any
duty or obligation to update these statements publicly as a result
of new information, future events or otherwise, except as required
by law.
SOURCE MGM Resorts International