MGM Resorts International Announces Proposed Private Offering by CityCenter Holdings

MGM Resorts International announced that CityCenter Holdings, LLC, a joint venture which is 50% owned by a wholly owned subsidiary of the Company and 50% owned by Infinity World Development Corp. (a wholly owned subsidiary of Dubai World), and CityCenter Finance Corp. propose to offer USD240 million in aggregate principal amount of senior secured first lien notes in a private placement. The notes are additional notes constituting a part of the same series as the USD900 million aggregate principal amount of 7.625% senior secured first lien notes due 2016 issued on January 21, 2011. CityCenter plans to use the net proceeds from the offering, together with cash from its balance sheet, to repay USD300 million of the outstanding borrowings under its USD375 million senior credit facility.