MGM Resorts International is now involved in the $400 million Mojito Pointe project in Lake Charles. The company is partnering with Creative Casinos, which is developing the 242-acre luxury casino resort that planners envision will draw visitors from southwest Louisiana and southeast Texas. In exchange for an undisclosed cash investment and other consideration, MGM Resorts will receive an equity interest in Creative Casinos and a management agreement to operate Creative’s Mojito Pointe casino resort. MGM will manage the new resort under an MGM brand to be announced, and the resort will be fully integrated into MGM’s M life loyalty program. Creative Casinos will develop and own the resort, which is expected to contain a casino with approximately 1,500 slot machines and 50 table games and two hotels with a total of 400 hotel rooms, including 30 VIP suites. Construction on the resort is expected to begin before the end of the year in anticipation of an opening in mid-2013. MGM is the largest casino operator in Las Vegas, with about 42,000 hotel rooms along the Vegas strip. The company owns and operates 15 properties, and also holds significant investments in MGM China Holdings. “The relationship with Creative Casinos is another milestone for our company,” says MGM Chairman and CEO Jim Murren. Read the rest of this week’s 10/12 Corridor Weekly here.
MGM Resorts International signs on for Mojito Pointe project
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