MGM Grand eyes development $

MGM Grand Inc. has filed with the Securities and Exchange Commission to allow it to borrow up to $1.5 billion in bank credit and more than $2 billion in other forms of subordinated debt to raise money for development projects and other corporate activities, the company announced Wednesday.

Combined with the Grand’s free cash flow from its casino and other operations, the financing package will help pay for the completion of its City of Entertainment at MGM Grand Las Vegas, as well as additional development plans and potential acquisitions.

MGM Grand owns the MGM Grand Hotel/Casino in Las Vegas, the MGM Grand Hotel/Casino in Darwin, Australia, and a 50% interest in the New York, New York Hotel/Casino in Las Vegas.

More Biz

  • Matt Sawin Capitol Music Group

    Caroline Names Matt Sawin Executive VP

    MGM Grand Inc. has filed with the Securities and Exchange Commission to allow it to borrow up to $1.5 billion in bank credit and more than $2 billion in other forms of subordinated debt to raise money for development projects and other corporate activities, the company announced Wednesday. Combined with the Grand’s free cash flow […]

  • Universal Music Group

    Universal Music Launches Nigerian Division

    MGM Grand Inc. has filed with the Securities and Exchange Commission to allow it to borrow up to $1.5 billion in bank credit and more than $2 billion in other forms of subordinated debt to raise money for development projects and other corporate activities, the company announced Wednesday. Combined with the Grand’s free cash flow […]

  • Bruno Mars Grammys

    Recording Academy Announces Date, Deadlines for 2019 Grammy Awards

    MGM Grand Inc. has filed with the Securities and Exchange Commission to allow it to borrow up to $1.5 billion in bank credit and more than $2 billion in other forms of subordinated debt to raise money for development projects and other corporate activities, the company announced Wednesday. Combined with the Grand’s free cash flow […]

  • The Matcha Bros

    Ansel Elgort, Diplo, Billie Eilish and Von Miller Invest in MatchaBar Energy Drink

    MGM Grand Inc. has filed with the Securities and Exchange Commission to allow it to borrow up to $1.5 billion in bank credit and more than $2 billion in other forms of subordinated debt to raise money for development projects and other corporate activities, the company announced Wednesday. Combined with the Grand’s free cash flow […]

  • Ron Burkle

    Ron Burkle Sues Lantern Capital Over Weinstein Co. Costs

    MGM Grand Inc. has filed with the Securities and Exchange Commission to allow it to borrow up to $1.5 billion in bank credit and more than $2 billion in other forms of subordinated debt to raise money for development projects and other corporate activities, the company announced Wednesday. Combined with the Grand’s free cash flow […]

  • Netflix Reed Hastings

    Netflix Falls Short of Q2 Subscriber Expectations Worldwide, Stock Dives

    MGM Grand Inc. has filed with the Securities and Exchange Commission to allow it to borrow up to $1.5 billion in bank credit and more than $2 billion in other forms of subordinated debt to raise money for development projects and other corporate activities, the company announced Wednesday. Combined with the Grand’s free cash flow […]

More From Our Brands

Access exclusive content