MGM Mirage Inc., one of the world’s largest gaming corporations, is opening a hotel/casino alongside Foxwoods Resort Casino in partnership with the Mashantucket Pequot Tribal Nation, which owns the Connecticut resort.
The agreement is part of a $700 million project underway at Foxwoods. The new hotel/casino will be called the MGM Grand under a long-term licensing agreement and is scheduled to open in 2008.
“Our affiliation with MGM Mirage provides us with an experienced advisor in gaming, a proven resort development partner at Mashantucket, and an equal partner in a powerful venture, all at once,” said Michael J. Thomas, chairman of the Mashantucket Pequot Tribal Nation, in a release announcing the partnership. “This relationship with MGM Mirage will enable our tribal community to develop a destination resort with a greater range of entertainment experiences than any other in the world.”
MGM Mirage owns and operates properties in Nevada, Mississippi, and Michigan (including the MGM Grand, the Bellagio, and the Mirage in Las Vegas). The partnership with Foxwoods further establishes the MGM brand on the East Coast, where MGM Mirage does not operate any casinos but has invested in the Borgata Hotel Casino & Spa in Atlantic City, N.J. Through the partnership, Foxwoods and MGM Mirage also plan to develop cross-opportunities between resorts.