MGM Resorts International
MGM Resorts International Issued $850M in Senior Notes and Entered Underwriting Agreement
Summary
On September 17, 2024, MGM Resorts International issued $850 million in aggregate principal amount of 6.125% Senior Notes due 2029. The Notes were issued under the Company's Base Indenture and Second Supplemental Indenture. On the same day, MGM Resorts entered into an underwriting agreement with BofA Securities, Inc., whereby the Company agreed to sell the Notes and the Underwriters agreed to purchase them for resale to the public. The Company intends to use the net proceeds from the offering to repay existing indebtedness and pay transaction-related fees and expenses, with the remainder for general corporate purposes.
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About MGM Resorts International
MGM Resorts International operates as a global hospitality and entertainment company, known for its luxury accommodations, high-profile casino resorts, and vibrant live entertainment options. The company's primary function revolves around offering unparalleled leisure experiences through its integrated resort offerings, which include numerous world-renowned properties such as the Bellagio, MGM Grand, and Mandalay Bay located in Las Vegas. MGM Resorts International also extends its influence beyond gaming and hospitality with ventures into gastronomy, retail, and convention services, thereby impacting sectors like tourism, real estate, and gastronomy. The firm plays a significant role in the leisure and hospitality industry, both within the United States and internationally, with properties in Asia and plans for future developments. MGM Resorts is crucial for the economy of entertainment hubs, contributing to employment and regional economic activity. As a prominent player in the gaming and resort space, it continuously adapts to industry trends, such as leveraging digital solutions and expanding online gaming platforms, further cementing its standing in the dynamic landscape of global hospitality.
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