Louisiana complex to include gaming, two hotels
MGM Resorts International and Creative Casinos LLC have entered a strategic relationship to develop and manage the proposed Mojito Pointe casino resort in Lake Charles, La. In exchange for an undisclosed cash investment and other considerations, MGM Resorts will receive an equity interest in Creative Casinos and a management agreement to operate Creative’s Mojito Pointe casino resort.
Mojito Pointe is a luxury casino resort planned for a 242-acre site in Lake Charles. MGM will manage the new resort under an MGM brand to be announced and the resort will be integrated into MGM's M life loyalty program. Creative Casinos will develop and own the resort, which is expected to contain a casino with approximately 1,500 slot machines and 50 table games and two hotels with a total of 400 hotel rooms, including 30 VIP suites.
Construction on the resort is expected to begin before year-end in anticipation of an opening in mid-2013. “The relationship with Creative Casinos is another milestone for our company," said Jim Murren, MGM Resorts International Chairman and CEO. "It provides MGM the opportunity to expand the reach of MGM's brands into an important regional market.
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