The Company is currently pursuing targeted expansion in Asia through the integrated resort opportunity in Japan. The Company's 50/50 venture, BetMGM, LLC, offers sports betting and online gaming in North America through market-leading brands, including BetMGM and partypoker, and the Company's subsidiary LeoVegas AB offers sports betting and online gaming through market-leading brands in several jurisdictions throughout Europe. The MGM Resorts portfolio encompasses 31 unique hotel and gaming destinations globally, including some of the most recognizable resort brands in the industry. MGM Resorts creates immersive, iconic experiences through its suite of Las Vegas-inspired brands. MGM Resorts International (NYSE: MGM) is an S&P 500® global entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings. Weil, Gotshal & Manges LLP served as legal counsel to MGM Resorts.Ĭalculated as net income of $47 million, adjusted for $3 million of depreciation and amortization, $7 million of property transactions, net, and $41 million of rent expense associated with triple-net operating leases. The Company expects net cash proceeds after taxes and estimated fees to be approximately $350 million. (NYSE: VICI) that currently includes the Gold Strike property will be amended to reduce the annual rent by $40 million to account for the Company's sale of the operations of Gold Strike. At the closing of the transaction, MGM Resorts' master lease with VICI Properties, Inc. "We plan to use the proceeds from this transaction to further fortify our balance sheet, deploy capital to growth opportunities, and return capital to shareholders," said Jonathan Halkyard, CFO & Treasurer, MGM Resorts International.įor the year ended December 31, 2022, Gold Strike reported net income of $47 million and Adjusted Property EBITDAR of $98 million 1. "I wish Gold Strike well, and firmly believe a bright future is ahead for this property." ** EFFECTIVE IMMEDIATELY ** the hotel will be collecting a daily resort fee of 4.00 to each reservation - The resort fee will include the following: Free in room coffee, free newspaper upon request, 2 bottles of water in room, access to the fitness facility, printing free boarding passes, access to notary, free faxes, free copies (up to 10 per day)."Gold Strike is an iconic property in Mississippi, and the employees there represent southern hospitality at its finest," said Bill Hornbuckle, CEO & President, MGM Resorts International. Dining options include the Chicago Steakhouse, serving steaks and fish, the Atrium Cafe, specializing in American fare, a buffet, and a food court serving fast food.Guest rooms feature cable TVs, Internet, work desks, telephones, coffeemakers, irons and ironing boards, and hairdryers. Local attractions include downtown Tunica, featuring a notable shopping district and Tunica River Park, approximately 15 miles from the property.Hotel amenities include the large on-site casino featuring slots, table games, and poker, entertainment events in the Millennium Theatre, banquet and meeting rooms, indoor swimming pool, jacuzzi, tanning beds, massages, fitness center, gift shop, outdoor patio and fax machines. A one-stop venue for dining, gambling and entertainment, The Gold Strike Casino Resort in Robinsonville stands less than a mile from the banks of the Mississippi River and is approximately 29 miles from Memphis International Airport.
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