MGM MGM Resorts International

LAS VEGAS, Feb. 10, 2015 /PRNewswire/ -- Schneider Electric, a global specialist in energy management, has entered into a formal, multi-year agreement to become the first "Founding Partner" of the new Las Vegas Arena currently under construction and owned by Las Vegas Arena Company partners AEG and MGM Resorts International (NYSE: MGM).

The comprehensive agreement calls for Schneider Electric to design, install and operate numerous technology-based systems throughout the venue. This includes lighting, the complete electrical infrastructure, metering (gas, water and power), HVAC, building security, power management and building automation.  The 'intelligent design' provided by Schneider Electric's SmartStruxure™ solution will give arena systems the ability to monitor the status of components and environmental parameters to ensure correct functionality during all modes of operation. This will allow the venue to be one of the world's most automated and energy efficient sporting and concert venues with anytime, anywhere access to collective information throughout the facility.

"Schneider Electric is the global business that enables some of the largest and highest- profile organizations and infrastructure projects to be as energy efficient and sustainable as possible," said Todd Goldstein, chief revenue officer, AEG.  "We are proud to have Schneider Electric as our first Founding Partner in the arena, and we look forward to harnessing their expertise in the build out and ongoing operation of this venue."

Chris Hummel, chief marketing officer, Schneider Electric, said, "We're excited to be a founding partner in the completion of this top-flight arena.  We are pleased that people in the Las Vegas area will benefit from the collaboration of Schneider Electric, AEG and MGM Resorts. Our organizations share a strong commitment to sustainability and believe in the importance of creating operations that maximize energy efficiency. The integrated solutions we will deploy throughout the arena will provide a single, real-time view into all critical infrastructure systems.  This will enable a safe, reliable and energy efficient environment that enhances fan experience while helping to achieve significant savings on operating costs."

The privately funded, 20,000-seat, $375 million indoor arena, set to open in spring 2016, is located west of the Las Vegas Strip between New York-New York Hotel & Casino and Monte Carlo Resort and Casino.  Las Vegas' newest landmark is expected to host more than 100 events annually including boxing, UFC and other sporting events, major headline entertainment, awards shows and special events. The venue also will feature 50 luxury suites, more than two dozen private loge boxes and other specially designed exclusive hospitality offerings never before featured in a facility of its kind.

As one of the elite group of category exclusive brands designated as arena Founding Partners, Schneider Electric will receive a customized sponsorship package including, but not limited to, permanent and digital signage within the arena and on the exterior facade, an interactive concourse display and customized business-to-business connections.

Nick Baker, senior vice president, AEG Global Partnerships, said, "The process of creating this unique partnership originated more than two years ago; instantaneously, there was a shared belief in developing something new and different.  Las Vegas is the absolute perfect global platform to demonstrate the vast reach of Schneider Electric products and services through best in show entertainment.  New and different always takes trust and belief and we feel fortunate to have established these characteristics quickly with leaders such as Emmanuel Lagarrigue, Orlando Perez, Tony Wells and the full Schneider Electric team along with my colleagues at AEG including Scott Bosarge and Sam Piccione who were instrumental from the AEG side."

Mark Prows, senior vice president, Arenas for MGM Resorts International, said, "We are proud to have Schneider Electric, the worldwide leader in energy management, as our first founding partner of the Las Vegas Arena.  The Arena will require an extensive selection of technical and sustainable elements ranging from hardware and power efficiencies to related distribution, safety and switching technologies, all of which are critical to our overall Arena operation.  Schneider's extensive commitment to our integrated Arena systems is not only key to our current success, but will help set us apart as we build the leading venue in the industry.  We appreciate this new partnership and the value it brings to both entities."

About Schneider Electric
As a global specialist in energy management with operations in more than 100 countries, Schneider Electric offers integrated solutions across multiple market segments, including leadership positions in Utilities & Infrastructure, Industries & Machines Manufacturers, Non-residential Buildings, Data Centers & Networks and in Residential. Focused on making energy safe, reliable, efficient, productive and green, the company's 150,000 plus employees achieved sales of 31 billion US dollars in 2013, through an active commitment to help individuals and organizations make the most of their energy.
www.schneider-electric.com/us

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 & Casino.  For more information about MGM Resorts International, visit the Company's website at www.mgmresorts.com.

About AEG
AEG is one of the leading sports and entertainment presenters in the world. AEG, a wholly owned subsidiary of the Anschutz Company, owns or is affiliated with a collection of companies including over 100 of the world's preeminent facilities such as STAPLES Center (Los Angeles, CA), StubHub Center (Carson, CA), Best Buy Theater (Times Square, New York), Mercedes-Benz Arena (Shanghai, China), Allphones Arena (Sydney, Australia) and The O2 arena and entertainment district (London, England).  Developed by AEG, L.A. LIVE is a 4 million square foot/$3 billion downtown Los Angeles sports, & entertainment district featuring Nokia Theatre L.A. LIVE, Club Nokia, and a 54-story, 1001-room convention "headquarters" destination.  In addition to overseeing privately held management shares of the Los Angeles Lakers, assets of AEG Sports include franchises such as the LA Kings, LA Galaxy and Houston Dynamo and the Amgen Tour of California cycling stage race.  Along with AEG Facilities, other global divisions include AEG Live, the world's second largest concert promotion and touring companies comprised of touring, festival, exhibition, broadcast, merchandise and special event divisions and AEG Global Partnerships, responsible for worldwide sales and servicing of sponsorships, naming rights and other strategic partnerships.  In 2010, AEG launched its AEG 1EARTH environmental program featuring the industry's first sustainability report while in 2011, AEG introduced AXS a comprehensive entertainment platform serving as the company's primary consumer brand including AXS Ticketing, Examiner.com and the AXS TV network. For additional information, visit www.aegworldwide.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 has 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 Las Vegas Arena Company to develop a new arena in Las Vegas and/or obtain finance  such project. 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, the design, timing and costs of expansion projects, risks relating to 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, MGM Resorts International is not 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.

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SOURCE AEG