News for the Hospitality Executive
LAS VEGAS, April 5, 2011-- MGM Hospitality, a subsidiary of MGM Resorts International (NYSE: MGM), and Asian Coast Development (Canada) Limited, have named veteran resort and casino executive John Shigley to the position of President and Chief Operating Officer for MGM Grand Ho Tram in Vietnam. Mr. Shigley will guide the pre-opening, grand opening and operations of all aspects of the resort, the first integrated resort in Vietnam and the first property in Vietnam to carry the legendary MGM Grand brand.
"John Shigley brings the wealth of professional hospitality experience that the challenge of opening a new resort demands," said Gamal Aziz, President and Chief Executive Officer of MGM Hospitality. "He has served in top-level positions at several Las Vegas resorts and possesses the background, character and insight to play the central role in launching and leading MGM Grand Ho Tram to the tremendous success we know it will be."
MGM Grand Ho Tram is the first of five resorts being developed by Asian Coast Development (Canada) Limited on the Ho Tram Strip in Vietnam, and will be managed by MGM Hospitality.
"John Shigley's deep experience in operating some of the largest integrated resorts in the world, coupled with his strong leadership capabilities, will support our strategy of ensuring operational excellence in our resorts and bringing the best talent to the Ho Tram Strip," said Lloyd Nathan, Chief Executive Officer of Asian Coast Development (Canada) Limited. "We are delighted that John has become a part of the team."
The MGM Grand Ho Tram will be a luxury integrated resort located approximately 127 kilometers southeast of Ho Chi Minh City. The resort will initially offer 541 luxury guest rooms, a full spectrum of world-class restaurants and amenities, exquisite VIP accommodations, a conference center and a spectacular gaming area featuring 90 live table games and 500 electronic games. MGM Grand Ho Tram is currently under construction and expected to open in 2013.
Mr. Shigley is a seasoned gaming executive with extensive management experience in operations, marketing and finance. He has recently been supporting MGM Resorts International's Asian gaming interests, primarily in Macau, while also serving as Executive Vice President of Operations for MGM Grand Las Vegas. Previously, he served as the Chief Financial Officer for MGM Grand, responsible for the planning and execution of the resort's overall financial strategy. Mr. Shigley joined MGM Resorts International in 2002 as Executive Vice President for New York-New York Hotel & Casino. He has also served as a property president for both Caesars Palace in Las Vegas and Primm Valley Resorts and has held executive positions at Caesars World and Caesars Tahoe.
Mr. Shigley is a graduate of Northern Illinois University, where he received his Bachelor of Science degree in Accounting. He is a licensed Certified Public Accountant in the state of Nevada. He is a member of the American Institute of Certified Public Accountants, and the Nevada State Society of CPAs.
Mr. Shigley's appointment is effective immediately.
About MGM Hospitality
MGM Hospitality is a wholly owned subsidiary of MGM Resorts International (NYSE: MGM), that was formed to operate hotels, resorts and residences in key destinations around the world under the brands Bellagio, MGM Grand and Skylofts. MGM Hospitality specializes in creating captivating and celebrated destinations that, through the interplay of design and innovative dining, retail and spa offerings, infuse entertainment and excitement into every element of the hospitality experiences we create and manage.
MGM Hospitality is focused on establishing our hotels and resorts in all international gateway cities and prime resort destinations around the world, with a pipeline that currently includes projects in the Middle East, North Africa, India, and China. MGM Hospitality also provides project management and development services and shares the same commitment to sustainable building and operations as our parent company MGM Resorts International.
About Asian Coast Development (Canada) Limited
Asian Coast Development (Canada) Ltd. (ACDL) is an international development company specializing in integrated resort destinations. ACDL, through its wholly-owned subsidiary Ho Tram Project Company Ltd, is the developer of the Ho Tram Strip, a group of integrated resorts to be located on more than 400 acres of land and more than two kilometers of pristine beach in Ho Tram, and approved in an Investment Certificate issued by the Government of Vietnam. With a focus on providing a personalized blend of excitement and relaxation, the Ho Tram Strip will feature something for everyone, from lavish entertainment to premium shopping and exceptional recreational facilities.
In November 2008, ACDL entered into an Agreement with MGM Resorts International to provide pre-opening services and to manage and operate the first of ACDL's five resorts under the MGM Grand brand. This will be Vietnam's first large scale integrated resort and ultimately will include an 1,100-room, five-star MGM Grand hotel, a world-class entertainment facility, restaurants, high-tech meeting space, an exclusive VIP area, a championship golf course, as well as a variety of beach-front recreation activities. Phase I of this development is scheduled to open in 2013 and will be the initial component of the largest integrated resort complex in Vietnam. For more information about ACDL, please visit the company's website at http://www.asiancoastdevelopment.com/
Statements in this release which 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.
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