MGM Resorts has made its latest move into the emerging UAE market, filing licence application in Abu Dhabi on September 19th.
Bill Hornbuckle, Chief Executive, announced the move whilst speaking at the Skift Global Forum in New York.
“The federal government, the Abu Dhabi government, will approve it. We have applied for something there and hopefully will win something there. Then each ruler will have their say.
“It is like a state, where each state says yes or no. I hope and believe we’ll hear more from Abu Dhabi later this year about the federal mandate and federal oversight.”
During an interview with Sean O’Neill, Skift’s Senior Hospitality Editor, Hornbuckle added: “We actually have a long history with the region. We worked with a group called Dubai World, which was partnered with us in CityCenter. We know the region and we know a lot of the layers.”
In 2007, MGM and Dubai World entered into a joint venture to build CityCenter on the Las Vegas Strip, which includes the Aria Casino Resort, Vdara Hotel and the residential Veer Towers. MGM then paid $2.1bn to buy out Dubai World before later selling the Aria Resort and Vdara Hotel properties to Blackstone for $3.89bn.
MGM Resorts also already has a luxury resort under development on Jumeirah Beach in Dubai, in partnership with Hospitality & Leisure. This complex is set to offer 1,500 hotel rooms and feature the MGM, Bellagio and Aria brands.
