MGM Resorts International Announces Proposed Senior Notes Offering

LAS VEGAS, April 23, 2020 /PRNewswire/ -- MGM Resorts International (the "Company") (NYSE:  MGM) today announced that it proposes to offer $500,000,000 in aggregate principal amount of senior notes due 2025.

The Company intends to use the net proceeds from the offering of the notes, for general corporate purposes, including, without limitation, further increasing its liquidity position. Pending such use, the Company may invest the net proceeds in short-term interest-bearing accounts, securities or similar investments.

The notes being offered will be general unsecured senior obligations of the Company, guaranteed by substantially all of the Company's wholly owned domestic subsidiaries that guarantee the Company's other senior indebtedness, and equal in right of payment with all existing or future senior unsecured indebtedness of the Company and each guarantor.

J.P. Morgan Securities LLC, BofA Securities, Inc., Barclays Capital Inc., Citigroup Global Markets Inc., BNP Paribas Securities Corp., Citizens Capital Markets, Inc., Fifth Third Securities, Inc., Scotia Capital (USA) Inc. and SMBC Nikko Securities America, Inc. will act as joint book-running managers and Credit Agricole Securities (USA) Inc., Morgan Stanley & Co. LLC and SunTrust Robinson Humphrey, Inc. will act as co-managers for the proposed offering.

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.

The offering of the notes will be made under a prospectus supplement related to the notes and an accompanying prospectus filed as part of the Company's existing effective shelf registration statement on file with the Securities and Exchange Commission ("SEC").  The Company intends to file a final prospectus supplement with the SEC for the notes offering to which this communication relates.  Alternatively, the Company, any underwriter or any dealer participating in the offering will arrange to send you the prospectus and the final prospectus supplement if you request it from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling (866) 803-9204 or from BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC  28255-0001, Attn: Prospectus Department, or by email at [email protected].

About MGM Resorts International

MGM Resorts International (NYSE:  MGM) is an S&P 500® global entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings. MGM Resorts creates immersive, iconic experiences through its suite of Las Vegas-inspired brands. The MGM Resorts portfolio encompasses 29 unique hotel and destination gaming offerings in the United States and Macau, including some of the most recognizable resort brands in the industry such as Bellagio, MGM Grand, ARIA and Park MGM. The Company's 50/50 venture, ROAR Digital LLC, offers U.S. sports betting and online gaming through market-leading brands, including BetMGM and partypoker. The Company is currently pursuing targeted expansion in Asia through the integrated resort opportunity in Japan. Through its "Focused on What Matters: Embracing Humanity and Protecting the Planet" initiative, MGM Resorts commits to creating a more sustainable future, while striving to make a bigger difference in the lives of its employees, guests, and in the communities where it operates. The global employees of MGM Resorts are proud of their company for being recognized as one of FORTUNE® Magazine's World's Most Admired Companies®.

Forward Looking Statements

Statements in this release that are not historical facts are "forward-looking" statements and "safe harbor statements" that involve risks and/or uncertainties, including those described in the Company's public filings with the SEC. The Company has based 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, the completion of the senior notes offering, statements we make regarding the impact of COVID-19 on the Company's business, the Company's ability to continue to execute on the MGM 2020 Plan and its asset light strategy, its ability to generate cash flow and execute on ongoing and future projects, including the development of an integrated resort in Japan, amounts it will spend in capital expenditures and investments, its expectations with respect to future share purchases and cash dividends on its common stock, dividends and distributions it will receive from MGM China, MGM Growth Properties Operating Partnership LP (the "Operating Partnership") or CityCenter Holdings, LLC ("CityCenter") and any benefits the Company expects to receive from the Coronavirus Aid, Relief, and Economic Security Act. 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 the continued impact of the COVID-19 pandemic on the Company's business, the general economic conditions and market conditions in the markets in which the Company operates and competition with other destination travel locations throughout the United States and the world, the design, timing and costs of expansion projects, risks relating to international operations, permits, licenses, financings, approvals and other contingencies in connection with growth in new or existing jurisdictions and additional risks and uncertainties described in the Company's Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports). 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. If the Company updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.

MGM RESORTS CONTACTS:

Investment Community
AARON FISCHER
Chief Strategy Officer
(702) 693-7152 or [email protected]

News Media
BRIAN AHERN
Director of Communications
[email protected]

SOURCE MGM Resorts International

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