Key Developments: MGM Resorts International (MGM)

MGM on New York Consolidated

22.82USD
26 Nov 2014
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Latest Key Developments (Source: Significant Developments)

MGM Resorts International completes $1.25 bln senior notes offering
Tuesday, 25 Nov 2014 09:26am EST 

MGM Resorts International:Has completed its previously said issuance of $1.15 bln in aggregate principal amount of 6 pct senior unsecured notes due 2023.Notes which were issued at par.Plans to use net proceeds for general corporate purposes, including repaying certain indebtedness maturing in 2015 and funding portion of development costs related to its Maryland and Massachusetts resort projects.  Full Article

MGM Resorts International prices $1.15 billion in senior notes
Thursday, 20 Nov 2014 07:00pm EST 

MGM Resorts International:Says that it has priced a public offering of $1.15 billion in aggregate principal amount of 6 pct. senior unsecured notes due 2023 at par.Says the transaction is expected to close on Nov. 25, 2014.Says the company plans to use the net proceeds from the offering of the notes for general corporate purposes.Purpose including repaying certain indebtedness maturing in 2015 and funding a portion of the development costs related to its Maryland and Massachusetts resort projects.Says Pending such use, the company may invest the net proceeds in short-term interest-bearing accounts, securities or similar investments.Says Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC, Citigroup Global Markets Inc., SMBC Nikko Securities America, Inc. and Morgan Stanley & Co. LLC acted as joint book-running managers.Barclays Capital Inc., BNP Paribas Securities Corp., Deutsche Bank Securities Inc., Credit Agricole Securities (USA) Inc., RBS Securities Inc., Scotia Capital (USA) Inc. and UBS Securities LLC acted as co-managers.  Full Article

MGM Resorts International announces proposed senior notes offering
Thursday, 20 Nov 2014 08:56am EST 

MGM Resorts International:Proposes to offer $1.0 bln in aggregate principal amount of senior unsecured notes due 2023.Plans to use the net proceeds for general corporate purposes.Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC, Citigroup Global Markets Inc., SMBC Nikko Securities America, Inc. and Morgan Stanley & Co. LLC will act as joint book-running managers for the proposed offering.  Full Article

MGM Resorts International gives Q4 2014 RevPAR outlook - Conference Call
Thursday, 30 Oct 2014 11:00am EDT 

MGM Resorts International:Expects Q4 2014 REVPAR to be about up 5 pct.  Full Article

MGM Resorts International and AEG secure financing for New Las Vegas Arena
Wednesday, 1 Oct 2014 09:00am EDT 

MGM Resorts International and AEG:Says they have finalized a $200 mln bank facility to fund the development and construction of a new 20,000 seat arena.  Full Article

MGM Resorts International gives Q3 2014 RevPAR outlook - Conference Call
Tuesday, 5 Aug 2014 11:00am EDT 

MGM Resorts International:Anticipate RevPAR growth of about 5 pct in Q3 2014.  Full Article

Suzo-Happ Group's SHIFT Interactive secures agreement with Casino Powerhouse MGM Resorts International
Thursday, 31 Jul 2014 11:00am EDT 

MGM Resorts International and Suzo-Happ Group's SHIFT Interactive:Announce a multi-year agreement has been signed to support the launch of the highly anticipated, InteractivePro Table (IPT).Initial 20 InteractivePro Tables will be installed during this initial market-testing phase beginning July 28, at two of Las Vegas' landmark casinos: MGM Grand and The Mirage.  Full Article

MGM Resorts International gives Q2 2014 RevPAR outlook - Conference Call
Tuesday, 29 Apr 2014 11:00am EDT 

MGM Resorts International:Expects Q2 2014 RevPAR to grow by about 5 pct.  Full Article

MGM Resorts International and Hakkasan Group announce formation of joint venture hotel company MGM Hakkasan Hospitality
Tuesday, 15 Apr 2014 08:00am EDT 

MGM Resorts International and Hakkasan Group:Forms joint venture hotel management company, to be named MGM Hakkasan Hospitality.Strategic alliance will focus on the design, development and management of luxury non-gaming hotels, resorts and residential offerings under the Bellagio, Hakkasan, MGM Grand and SKYLOFTS brands in key international gateway cities and prime resort destinations across the globe.  Full Article

MGM Resorts International gives Q1 2014 RevPAR guidance - Conference Call
Thursday, 20 Feb 2014 11:00am EST 

MGM Resorts International:Sees Q1 2014 RevPAR to be up about 10 pct year over year.  Full Article

MGM Resorts cleared to re-enter ailing Atlantic City market

ATLANTIC CITY N.J. - MGM Resorts International won regulatory permission on Wednesday to re-enter the Atlantic City casino market after a 20-month investigation focusing on the company's ties to Pansy Ho, the richest woman in Hong Kong, who New Jersey gaming regulators considered an unsuitable partner.

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