Following a referendum last April, the voters of Lake Charles, Louisiana strongly endorsed the development of a US$400 million casino resort expected to generate over 1,500 construction jobs and 2,000 permanent new jobs. According to the developers, Creative Casinos LLC, the Caribbean and seaside themed Mojito Pointe is designed to complement the region’s other casinos and tourism amenities and be successful without a negative impact on existing hotels and casinos.
Creative Casinos is a privately-held company controlled by Daniel R. Lee, who was formerly the Chairman and CEO of Pinnacle Entertainment and, before that, the Chief Financial Officer, Treasurer and Senior Vice President of Development of Mirage Resorts. The Company was selected by the Louisiana Gaming Control Board for development of the fifteenth and final state gaming licence.
Today MGM Resorts International and Creative Casinos announced a strategic relationship to develop and manage the proposed Mojito Pointe casino resort. In exchange for a cash investment and other consideration, MGM Resorts will receive an equity interest in Creative Casinos and a management agreement to operate Mojito Pointe. The resort will appeal to customers in Southwest Louisiana and Southeast Texas, including the Houston area, the fifth largest metropolitan economy in the United States. MGM will manage the new resort under an MGM brand to be announced and the resort will be fully integrated into MGM's M life loyalty programme.
Creative Casinos will develop and own the resort, which is expected to contain a casino with approximately 1,500 slot machines and 50 table games and two hotels with a total of 400 hotel rooms, including 30 VIP suites. Construction on the resort is expected to begin before year-end in anticipation of an opening in mid-2013.
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Apart from numerous restaurants and bars, including an outlet of the award-winning Snake River Grill, the resort will offer a destination spa, tennis center, unique school of falconry, and 18-hole championship golf course with approximately 1.5 miles of water frontage.
Daniel R. Lee, Chief Executive Officer of Creative Casinos said, "We are thrilled to welcome MGM Resorts International as an investor and as manager of Mojito Pointe. MGM is the largest casino operator in Las Vegas and is known for some of the most iconic brands in the gaming industry. MGM's brands reflect the high quality and luxury that we want to build into Mojito Pointe and, as one of the world's largest hospitality companies, MGM has a wealth of resources and experience that will result in the best possible project for Lake Charles.”
"The relationship with Creative Casinos is another milestone for our company," said Jim Murren, MGM Resorts International Chairman and CEO. "It provides MGM the opportunity to expand the reach of MGM's brands into an important regional market and promotes our efforts to further grow our M life customer loyalty program." (E-10.20.11)
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