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MGM Resorts International and AEG Announce Intent to Pursue Development of New Las Vegas Arena Project



MGM Resorts International and AEG Announce Intent to Pursue Development of New
                           Las Vegas Arena Project

Entertainment giants join forces to design privately funded, state-of-the-art
sports & entertainment facility on Las Vegas Strip

PR Newswire

LAS VEGAS, March 1, 2013

LAS VEGAS, March 1, 2013 /PRNewswire/ -- MGM Resorts International (NYSE: MGM)
and AEG today announced the companies have entered into an agreement to pursue
the development of a privately funded, 20,000-seat indoor arena in Las Vegas
on land located west of the Las Vegas Strip, between New York-New York and
Monte Carlo.  The new arena would be a venue capable of hosting boxing and
other sporting events, major headline entertainment, and other special events.

The arena will be the centerpiece of a complete revitalization of the area
between New York-New York and Monte Carlo, extending from Las Vegas Boulevard
to Frank Sinatra Drive. The overall project will involve new retail shops,
dining and entertainment offerings, both between the two properties and along
their frontage on the world-famous Las Vegas Strip.

Jim Murren, MGM Resorts Chairman and Chief Executive Officer said, "This
project will help our company optimize our existing assets at New York-New
York, Monte Carlo, CityCenter, and beyond.  This new facility would be an
extension of our entertainment legacy and continue our leadership position in
the worlds of boxing, sports, concerts and other events that drive significant
visitation and revenue to Las Vegas.  AEG's dominant position in arena
development, programming and management, makes it an ideal partner for this
venture."

AEG President & Chief Executive Officer Timothy J. Leiweke said, "We are proud
to announce this new venture with MGM Resorts International to build a
state-of-the-art arena. Our extensive sports and music assets together with
our global network of venues, including arenas in key west coast markets such
as Seattle, Portland, Oakland, Los Angeles, and San Diego, will allow us to
maximize booking and operations opportunities.  This partnership with MGM
brings together the two largest promoters and operators of live entertainment
venues in Las Vegas, guaranteeing the long-term success of the new arena."   

The project is anticipated to be financed with equity contributions from each
of the partners as well as privately funded third-party financing. 

"The combination of MGM and AEG along with the superior Las Vegas Strip
location is already driving strong interest from potential investors in this
exciting new development," said Mr. Murren.

Design and planning is well underway and the partners will begin seeking
appropriate approvals immediately.

About MGM Resorts International

MGM Resorts International (NYSE: MGM) is one of the world's leading global
hospitality companies, operating a portfolio of destination resort brands
including Bellagio, MGM Grand, Mandalay Bay and The Mirage. The Company also
owns 51% of MGM China Holdings Limited, which owns the MGM Macau resort and
casino and is in the process of developing a gaming resort in Cotai, and 50%
of CityCenter in Las Vegas, which features ARIA resort and casino.  For more
information about MGM Resorts International, visit the Company's website at
www.mgmresorts.com.

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

About AEG

AEG is one of the leading sports and entertainment presenters in the world.
AEG, a wholly owned subsidiary of the Anschutz Company, owns or is affiliated
with a collection of companies including over 100 of the world's preeminent
facilities such as STAPLES Center (Los Angeles, CA), The Home Depot Center
(Carson, CA), Best Buy Theater (Times Square, New York), Sprint Center,
(Kansas City), Rose Garden Arena (Portland, OR), Target Center (Minneapolis,
MN), Mercedes-Benz Arena (Shanghai, China), MasterCard Center (Beijing,
China), O2 World Hamburg, Allphones Arena (Sydney, Australia), Ericsson Globe
arena (Stockholm, Sweden), O2 World arena (Berlin, Germany) and The O2 arena
and entertainment district (London, England) which are all part of the
portfolio of AEG Facilities. Developed by AEG, L.A. LIVE is a 4 million square
foot / $2.5 billion downtown Los Angeles sports, residential & entertainment
district featuring Nokia Theatre L.A. LIVE and Club Nokia, a 54-story,
1001-room convention "headquarters" destination along with entertainment,
restaurant and office space that "officially" opened in 2010. In addition to
overseeing privately held management shares of the Los Angeles Lakers (NBA),
assets of AEG Sports include franchises and properties such as the Stanley Cup
Champion Los Angeles Kings (NHL), MLS Cup Champion Los Angeles Galaxy two
hockey franchises in Europe, the Amgen Tour of California cycling race and
Zazzle Bay to Breakers foot race. AEG Live, the company's live-entertainment
division, is the world's second largest concert promotion and touring company
and is comprised of touring, festival, exhibition, broadcast, merchandise and
special event divisions with fifteen regional offices. AEG Global
Partnerships, a division responsible for worldwide sales and servicing of
sponsorships naming rights and other strategic partnerships and AEG
Merchandising, a multi-faceted merchandising company are also core business
units of AEG. In 2010, AEG launched its AEG 1EARTH environmental program with
the announcement of 2020 environmental goals and the release of the industry's
first sustainability report while in 2011, AEG introduced axs Ticketing, the
first phase of its new entertainment platform serving as the company's primary
consumer brand which will also feature a mobile service as well as a video
content service now in development. For additional information, visit
www.aegworldwide.com

SOURCE MGM Resorts International; AEG

Website: http://www.mgmresorts.com
Website: http://www.aegworldwide.com
Contact: MGM Resorts International, Daniel D'Arrigo, Executive Vice President,
CFO & Treasurer, +1-702-693-8895; Media: Alan M. Feldman, Senior Vice
President of Public Affairs, +1-702-891-1840, afeldman@mgmresorts.com; AEG,
Michael Roth, Vice President, Communications, +1-213-742-7155,
mroth@aegworldwide.com
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