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MGM National Harbor Files Proposal With State Of Maryland

Stocks in this article: MGM

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."

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