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MGM Resorts International Announces Redemption of 6.750% Senior Notes due 2020, 5.250% Senior Notes due 2020 and 6.625% Senior Notes due 2021

LAS VEGAS, Nov. 18, 2019 /PRNewswire/ -- MGM Resorts International (the "Company") (MGM) today announced that it will redeem for cash all of its outstanding $360,826,000 6.750% Senior Notes due 2020 (the "6.750% Notes"), $267,476,000 5.250% Senior Notes due 2020 (the "5.250% Notes") and $1,250,000,000 6.625% Senior Notes due 2021 (the "6.625% Notes" and, together with the 6.750% Notes and the 5.250% Notes, the "Notes") on December 18, 2019 (the "Redemption Date"), in each case, at a redemption price equal to 100.00% of the aggregate principal amount thereof plus a make-whole premium, to be calculated as set forth in each notice of redemption delivered to noteholders for the applicable series of Notes (each, a "Notice of Redemption"), plus accrued and unpaid interest, if any, to the Redemption Date (the "Redemption Price"). Following the redemption of the Notes, no Notes will remain outstanding.

MGM Resorts International (PRNewsfoto/MGM Resorts International)

On or before December 18, 2019, the Notes should be presented to U.S. Bank National Association, as paying agent for the redemption, at the address set forth in each Notice of Redemption for the applicable series of Notes. Each Notice of Redemption is being sent to all registered holders of the respective series of Notes on November 18, 2019. Interest on the Notes will cease to accrue on and after the Redemption Date, and the only remaining right of holders of the Notes is to receive payment of the Redemption Price.

This press release is for informational purposes only and shall not constitute a notice of redemption of the Notes or an offer to purchase, or a solicitation of an offer to sell, any Notes or other securities. 

ABOUT MGM RESORTS INTERNATIONAL

MGM Resorts International (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 30 unique hotel and destination gaming offerings including some of the most recognizable resort brands in the industry. Expanding throughout the U.S. and around the world, the company recently acquired the operations of Empire City Casino in New York and MGM Northfield Park. In 2018, MGM Resorts opened MGM Springfield in Massachusetts, MGM COTAI in Macau, and the first Bellagio-branded hotel in Shanghai. The 82,000 global employees of MGM Resorts are proud of their company for being recognized as one of FORTUNE® Magazine's World's Most Admired Companies®. For more information visit us at www.mgmresorts.com.

Statements in this release that are not historical facts are "forward-looking" statements and "safe harbor statements" within the meaning of the Private Securities Litigation Reform Act of 1995 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. 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 effects of 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

News Media

AARON FISCHER

BRIAN AHERN

Chief Strategy Officer

Director of Media Relations

(702) 693-8711 or afischer@mgmresorts.com

media@mgmresorts.com

 

Cision

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