At the annual MGM Mirage shareholders meeting at CityCenter last month, shareholders approved the company’s name change to MGM Resorts International. Chairman and CEO Jim Murren said the new name reflects the company’s business goals.
“We believe that this change honors our rich entertainment heritage, better represents the growing global presence of our company and positions us to move forward under a united brand, strategy and common vision,” Murren told the shareholders.
MGM has signed 15 agreements with different companies around the world to develop projects under the MGM Grand, Bellagio and Skyloft umbrellas. The company’s subsidiary, MGM Mirage Hospitality, has been developing properties all over the world, and is indicative of the larger company’s future plans. That subsidiary will now be known as MGM Resorts Hospitality.
The dropping of “Mirage” from the company’s name does not indicate that the Mirage in Las Vegas is for sale, Murren said.
MGM also is introducing a player reward program called M Life, which was announced at the shareholders meeting. The program will be introduced at MGM’s regional properties before rolling out to Las Vegas later this year.
Steve Wynn, owner of Wynn Resorts and the Mirage’s original owner, had some choice words for MGM’s name change. “Mirage was a name associated with a very conservatively run and very successful company, not one with the kinds of overextended issues they face today,” he told the Las Vegas Sun. “MGM got themselves into that, so I think that ought to be their name.”