MGM Resorts International Prices $4.0 Billion Senior Secured Credit Facility As Part Of Comprehensive Refinancing

 MGM Resorts International Prices $4.0 Billion Senior Secured Credit Facility
                     As Part Of Comprehensive Refinancing

PR Newswire

LAS VEGAS, Dec. 14, 2012

LAS VEGAS, Dec. 14, 2012 /PRNewswire/ --MGM Resorts International (NYSE: MGM)
today announced that it has successfully priced its $4.0 billion amended and
restated senior secured credit facilities. The facilities will be comprised
of a $1.2 billion revolving facility, a $1.05 billion term loan A facility and
a $1.75 billion term loan B facility.

The revolving and term loan A facilities will initially bear interest at LIBOR
plus 3.00%, but will be subject to credit rating adjustments after six months,
which would result in an interest rate of LIBOR plus 2.75% based on current
credit ratings. The term loan B facility will bear interest at LIBOR plus
3.25% with a LIBOR floor of 1.00%. The revolving and term loan A facilities
will mature in December 2017 and the term loan B facility will mature in
December 2019. The term loan B was issued at 99.5% to initial lenders.

"This will be a transformational refinancing for MGM Resorts International.
Investor support will allow us to raise more capital than anticipated at
significantly lower rates," said Jim Murren, Chairman and Chief Executive
Officer of MGM Resorts International. "These transactions will meaningfully
decrease our interest costs while providing greater financial flexibility
going forward."

The Company plans to use the net proceeds of the facilities, together with
cash on hand and the proceeds from the previously announced $1.25 billion
senior note offering offering, (i) torepurchase all of its outstanding13%
senior secured notes due2013, 10.375% senior secured notes due2014, 11.125%
senior secured notes due2017 and9% senior secured notes due2020 (the
"Existing Secured Notes") tendered in the previously announced tender offers,
(ii) tofund the redemption and satisfaction and discharge of any of the
Existing Secured Notes that are not tendered in the tender offers, (iii) to
refinance its existing senior credit facility, (iv)to pay transaction-related
fees and expenses and (v)for general corporate purposes.

The closing of the refinancing transactions, including the amended and
restated credit agreement, is scheduled to be completed on December 20, 2012,
subject to the execution of definitive documentation and the satisfaction of
customary closing conditions.

Statements in this release which are not historical facts are
"forward-looking" statements and "safe harbor statements" within the meaning
of Section21E of the U.S. Securities Exchange Act of 1934, as amended, and
other related laws that involve risks and/or uncertainties, including risks
and/or uncertainties as described in the Company's public filings with the
Securities and Exchange Commission. The Company has based those
forward-looking statements on management's current expectations and
assumptions and not on historical facts. Examples of these statements
include, but are not limited to, statements regarding the Company's
expectations to close the transactions and the expected use of proceeds.
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
market conditions for corporate debt generally, for the securities of gaming,
hospitality and entertainment companies and for the Company's indebtedness in
particular. 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.

SOURCE MGM Resorts International

Contact: Investment Community, DANIEL J. D'ARRIGO, EVP, Chief Financial
Officer and Treasurer, +1-702-693-8895, News Media, ALAN M. FELDMAN, Senior
Vice President of Public Affairs, +1-702-891-1840, afeldman@mgmresorts.com
 
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