Others : MGM Mirage deals with U.A.E.

MGM Mirage announced it has signed an arrangement with Mubadala Development Company, to open a new company to build classy non-gaming hotels and resorts all the world, starting with locations in Abu Dhabi and Las Vegas.

Mubadala Development Company is a venture and expansion vehicle established and wholly owned by the Government of the Emirate of Abu Dhabi, U.A.E. The company intends to develop its own hotel management platform and distinctive hotel brands and utilize one or more of the powerful MGM Mirage brands. The new company will provide management and development services for the new sophisticated properties.

Terry Lanni, Chairman and Chief Executive Officer of MGM Mirage, considers that is a good movement for his company and also for Mubadala because they both are looking for new opportunities all around the world. The partnership between the two companies is widely recognized as one of the greatest deals in the market. It is expected that MGM Mirage's operational expertise and Mubadala's extensive resources will create an outstanding hotel company.