US-based MGM Resorts International will make its debut in Dubai with two new hotels – an MGM and a Bellagio.
The casino giant in the US has agreed on a deal to advise on and manage a 26-acre ‘premier destination’ hotel in Dubai for Wasl Hospitality, a part of Wasl Asset Management Group.
The beachfront development, which will feature an MGM Hotel, MGM Residences and a Bellagio Hotel, will mark the debut of the iconic MGM and Bellagio brand names in the Middle East.
“This marks the first time we will offer multiple MGM luxury brands at a prime beachfront location,” said MGM Resorts president Bill Hornbuckle.
The new property is set to feature 1,000 rooms and 10 villas and will occupy the longest stretch of waterfront ever developed in Dubai. US news papers report that it would take nine months to mobilise and about three years to build, resulting in a probable 2021 opening.
“It will have something called The Cavern, which is like a diving club that will be about 7,000-8,000 metres (23,000 to 26,250 feet) with about 15 or 16 different things down there,” Hornbuckle said. “It’s impressive. We’re actually making the pool a dive pool so you can snorkle.”
The Las Vegas-based company would receive a percentage of management, branding and technical services fees as well as daily management fees. The company also could receive a performance fee if certain goals are met.
According to the MGM release, the project was presented to His Highness, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, by officials from both MGM Resorts and Wasl Asset Management Group.
In keeping with its Vegas theme, the property will feature a similar water show, a theatre, a mix of culinary venues, specialty retail shops, traditional and interactive museums, a beach club and adventure zones for both adults and children.
MGM Resorts also owns resorts in Macau and China. In 2016, the company declared a net profit of US$1.1 billion after a 9% increase in net revenue to $9.5bn.
MGM’s Dubai debut was first reported by Associated Press in 2009. It will be located near the Burj Al Arab according to initial reports.