MGM Mirage and the Mashantucket Pequot Tribal Nation (MPTN) have entered into a strategic alliance to allow use of the MGM Grand name for a US$700m (£110m, E560m) expansion at the MPTN’s Foxwoods Resort Casino in Connecticut, US.
Foxwoods casino is already the largest in the world at 4.7 million sq ft (437,000sq m), with 7,400 slot machines, 380 table games and 1,400 hotel rooms, but the expansion will add a further two million sq ft (186,000sq m), 125 table games, 1,500 slot machines, 824 hotel rooms, a 4,000-seat theatre, four restaurants and four retail outlets.
The deal states that the two companies will develop a variety of cross-marketing opportunities and that additional MGM Mirage brands may be associated with other such projects.
MGM Mirage will also provide a loan of US$200m (£110m, E160m) to “finance a portion of MPTN’s investment in projects”.
Construction began in November and the casino is scheduled to be completed in Spring 2008.
