MGM Resorts secures $3.4B loan for Japan Resort
Working on a massive integrated resort in Japan, a group headed by MGM Resorts has successfully gotten a $3.4 billion loan from a group of banks. MGM Resorts...
MGM awaits UAE’s regulatory framework for Dubai casino plans
MGM Resorts is eagerly awaiting an ambitious regulatory framework from the UAE to begin its casino development plans in Dubai.
This exciting potential was recently disclosed by the business’s Chief Executive Officer and President, Bill Hornbuckle, who stated that MGM is waiting for the UAE government to enact a regulatory framework for gambling that would let MGM Resorts to apply for a gambling license in either Dubai or Abu Dhabi.
A 150 thousand square feet land in Dubai has already been acquired by MGM for the construction of hotel and casino complexes operating under the Bellagio, Aria, and MGM brands. In light of these events, Hornbuckle projected that MGM’s Middle East strategy will become evident in a few months and voiced hope over the legislative process.
The Chief Executive Officer further indicated that MGM Resorts is collaborating with the newly created General Commercial Gaming Regulatory Authority to create the regulatory framework necessary for commerical gaming in the UAE. He anticipates more significant progress following the month-long observance of Ramadan.
MGM is also awaiting approval from UAE authorities about its development partners. With the assistance of Wasl Asset Management Group, the company is expanding its presence in Dubai. MGM estimates that its partner for its most recent initiative will be selected by the government by the summer of 2024. The project will thereafter be able to proceed swiftly since the company thinks that regulatory reforms will occur shortly thereafter.
MGM Resorts is simultaneously seeking a downstate New York casino license and exploring prospective building locations in Thailand. According to Hornbuckle, they have acquired compliance in Thailand and are now seeking partners and suitable areas to establish their company.
MGM Resorts sues FTC over cyber attack investigation
The US Federal Trade Commission (FTC) is being sued by MGM Resorts in an audacious move to stop the FTC's investigation into a recent cyberattack on its systems.During...
