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February 09, 2016 9:57 AM ET

Hotels, Restaurants and Leisure

Company Overview of MGM Grand Detroit, LLC

Company Overview

MGM Grand Detroit, LLC, doing business as MGM Grand Detroit Casino, operates a hotel and gaming facility in Michigan. Its amenities include luxury rooms and suites, slots and video poker, table games, restaurants, a spa, a fitness center and pool, and meeting and convention space. The company was incorporated in 1997 and is based in Detroit, Michigan. MGM Grand Detroit, LLC operates as a subsidiary of MGM Resorts International.

1777 Third Street

Detroit, MI 48226

United States

Founded in 1997

Phone:

313-393-7777

Fax:

313-393-0601

Key Executives for MGM Grand Detroit, LLC

President and Chief Operating Officer
Assistant Vice President of Finance
Chairman of MGM Resorts International and Chief Executive Officer of MGM Resorts International
Age: 53
Senior Vice President of Casino and Player Marketing
Assistant Vice President of Player Marketing
Compensation as of Fiscal Year 2015.

MGM Grand Detroit, LLC Key Developments

Union Workers at Greektown Casino, MGM Grand Detroit and MotorCity Casino Ratify Contract Deal

Union members at Detroit's three casinos have ratified a 5-year contract agreement covering about 6,000 workers. The Detroit Casino Council, a consortium of four unions, reached the deal earlier this month with Greektown Casino, MGM Grand Detroit and MotorCity Casino. Joe Daugherty, president of Unite Here Local 24, tells vote was 95% in favor at Greektown, 85% in favor at MotorCity and 76% in favor at MGM Grand. The contract includes $4,250 signing bonuses as well as wage increases in the fourth and fifth years. It also holds the line on health care costs.

MGM Grand Detroit Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended Sept. 30, 2015

MGM Grand Detroit announced unaudited earnings results for the third quarter and nine months ended Sept. 30, 2015. For the quarter, the company earned net revenue of $128,789,000 compared to $127,703,000 a year ago. Adjusted EBITDA was $33,372,000 compared to $34,583,000 a year ago. Operating income was $27,254,000 compared to $26,164,000 in the prior year quarter. For the nine months, the company reported net revenue of $403,133,000 compared to $397,201,000 a year ago. Adjusted EBITDA was $109,723,000 compared to $107,602,000 a year ago. Operating income was $91,799,000 compared to $87,622,000 a year ago.

MGM Grand Detroit Announces Unaudited Earnings and Operating Results for the First Quarter Ended March 31, 2015

MGM Grand Detroit announced unaudited earnings and operating results for the first quarter ended March 31, 2015. For the quarter, the company reported net revenues of $133,315,000 against $133,148,000 a year ago. Adjusted property EBITDA was $33,612,000 against $33,366,000 a year ago. Operating income was $27,739,000 against $27,654,000 a year ago.

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