MGM Resorts International Announces Full Exercise of Over-Allotment Option

LAS VEGAS, Nov. 9 /PRNewswire-FirstCall/ -- MGM Resorts International (NYSE: MGM) today announced that Barclays Capital Inc. has exercised in full its option to purchase an additional 6,135,000 shares of common stock from the Company and an additional 4,167,300 shares of common stock from Tracinda Corporation at a price of $12.52 per share.  The Company will receive $76,810,200 in net proceeds from the exercise of the over-allotment option. The closing of the over-allotment option is expected to take place on November 12, 2010, subject to customary closing conditions.

The common stock is being offered pursuant to the Company's effective shelf registration statement on file with the Securities and Exchange Commission (the "SEC").  A copy of the prospectus supplement and related base prospectus for the offering has been filed with the SEC and is available on the SEC's website, www.sec.gov.  Alternatively, copies of the prospectus supplement and the related base prospectus for the offering may be obtained for free by contacting Barclays Capital, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, (888) 603-5847 or email [email protected].

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

Statements in this release which are not historical facts are "forward looking" statements and "safe harbor statements" within the meaning of Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and other related laws 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.  We have based those forward-looking statements on management's current expectations and assumptions and not on historical facts.  Examples of these statements include, but are not limited to, statements regarding the Company's expectations to close the over-allotment option.  These forward-looking statements involve a number of risks and uncertainties.  Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include market conditions for corporate debt and equity generally, for the securities of gaming, hospitality and entertainment companies and for the Company's indebtedness and common stock in particular.  In providing forward-looking statements, the Company is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise except as required by law.

SOURCE MGM Resorts International