LAS VEGAS ,
Feb. 16, 2017
/PRNewswire/ -- A new multi-year agreement between
Microsoft Corp. (Nasdaq: MSFT) and MGM Resorts International (NYSE:
MGM) is a first for both companies and a major win for Las Vegas. To MGM Resorts, the deal represents
the largest single-corporation meeting event ever hosted by the
leading global entertainment company. To Microsoft it marks the
first time the computer giant has combined four separate annual
events, with as many as 30,000 participants, into one signature
meeting.
With Las Vegas posting a
record-breaking year of visitation and MGM Resorts posting a record
year for meetings and conventions, it is anticipated that group
demand will continue to be strong. This piece of business,
new to the Las Vegas market and
new to MGM Resorts, rivals some of the company's – and the city's –
largest single corporate group events annually.
"With this contract, MGM Resorts is poised to deliver our
third record-breaking meetings and conventions year in a row," said
Michael Dominguez, Senior Vice
President and Chief Sales Officer for MGM Resorts. "The selection
by Microsoft of Las Vegas and of
MGM Resorts is incredibly exciting. Not only is this a mark
of confidence in our brand, but it offers continued evidence that
Las Vegas is viewed as the leading
purveyor of mainstream entertainment worldwide. We believe this is
the beginning of many more noteworthy developments to
come."
Las Vegas, recently named
the World's Leading Meeting & Conference Destination by the
World Travel Awards, continues to break records, including 6.3
million delegates traveling to the destination in
2016.
Key trends in business volumes indicate that summer months
in Las Vegas, typically the
softest for meetings, are now among the busiest times of the year
for MGM Resorts. With several large groups already booked for
summer, the Microsoft deal, beginning in July 2017, reaffirms the summer trend and extends
the convention season.
About MGM Resorts International
MGM Resorts International (NYSE: MGM) is one of the
world's leading global hospitality companies, operating a portfolio
of destination resort brands including Bellagio, MGM Grand,
Mandalay Bay and The Mirage. The Company opened MGM National Harbor
in Maryland on December 8, 2016, and is in the
process of developing MGM Springfield in Massachusetts. MGM
Resorts controls and holds a 76 percent economic interest in the
operating partnership of MGM Growth Properties LLC (NYSE: MGP), a
premier triple-net lease real estate investment trust engaged in
the acquisition, ownership and leasing of large-scale destination
entertainment and leisure resorts. The Company also owns 56 percent
of MGM China Holdings Limited (SEHK: 2282), which owns
MGM MACAU and is developing MGM COTAI, and 50 percent of
CityCenter in Las Vegas, which features ARIA Resort &
Casino. MGM Resorts is named among FORTUNE® Magazine's 2016 list of
World's Most Admired Companies®. For more information about MGM
Resorts International, visit the Company's website at
www.mgmresorts.com.
Statements in this release that are not historical facts
are "forward-looking" statements and "safe harbor statements" under
the Private Securities Litigation Reform Act of 1995 that involve
risks and/or uncertainties, including risks and/or uncertainties as
described in the Company's public filings with the Securities and
Exchange Commission.
SOURCE: MGM RESORTS INTERNATIONAL
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SOURCE MGM Resorts International