MGM Springfield and Majestic Theater Announce Seasonal Sponsorship Agreement
Massachusetts Gaming Commission Decides Surrounding Communities and Impacted Live Entertainment Venues
WEST SPRINGFIELD (MA) - MGM Resorts International announced today that it has finalized a seasonal sponsorship and cross-marketing agreement with the Majestic Theater in West Springfield. This extends MGM's commitment to work with existing entertainment facilities throughout the region to continue to grow the area's tourism economy.
Michael Mathis, MGM Springfield incoming President, said, "We are pleased that MGM Springfield and the Majestic Theater were able to reach an agreement and can now work cooperatively to ensure a mutually beneficial future in the Pioneer Valley. We thank the Majestic Theater's leadership team for its hard work and cooperative spirit leading up to today."
In light of the agreement reached late last week, the Majestic Theater today withdrew its petition before the Massachusetts Gaming Commission for Impacted Live Entertainment Venue status.
Danny Eaton, Majestic Theater Founder and Producing Director, said, "As we know in the theater - actions speak louder than words - and our agreement speaks volumes. MGM's follow-through and professionalism allowed us to come to this agreement and we are grateful with the result and show of support."
Also today, the MGC announced its decisions on surrounding community petitions from Hampden, Longmeadow and Northampton; and an ILEV petition from the Eastern States Exposition, or the Big E, also of West Springfield. Longmeadow received designation. Hampden and Northampton did not. The Big E was deferred for one week. MGM now has 30 days to reach an agreement with Longmeadow. If an agreement is not reached arbitration process will begin.
Mathis said, "We look forward to continuing to work cooperatively with officials from Longmeadow and the Big E to come up with agreements that will serve all parties, and allow us to avoid the arbitration process."
The Majestic agreement calls for MGM Springfield to purchase the full capacity of the theater for one night for each of the theater's five annual productions for five years. The sponsorship will begin the first full year after the opening of MGM Springfield. MGM is considering how it will use the seasonal sponsorship opportunity but likely will hold special complimentary MGM Springfield nights at the Majestic for employees and guests, as well as community non profits.
In addition, MGM Springfield will purchase playbill advertising for eight years, commencing in the first full year after the award of the gaming license to MGM Springfield. The Majestic Theater will cross-market and publicize MGM Springfield in its playbills and other materials distributed during performances.
MGM officials continue to have conversations and build alliances and partnerships throughout the Western Massachusetts region. As a result, MGM Springfield has been endorsed by regional chambers of commerce representing more than 2,500 businesses, has finalized an exclusive marketing agreement with Six Flags New England, and has reached surrounding community agreements with Ludlow, Agawam, East Longmeadow, Wilbraham, Chicopee and Holyoke. MGM has designated West Springfield as a surrounding community, and is in ongoing talks with Mayor Ed Sullivan to come up with an agreement.
MGM Springfield, an approximately $800 million resort, is proposed for 14.5 acres of land between Union and State streets, and Columbus Avenue and Main Street.
About MGM Resorts International (NYSE:MGM)
MGM Resorts International (NYSE: MGM) is one of the world's leading global hospitality companies, operating a peerless portfolio of destination resort brands, including Bellagio, MGM Grand, Mandalay Bay and The Mirage. In addition to its 51% interest in MGM China Holdings Limited, which owns the MGM Macau resort and casino, the Company has significant holdings in gaming, hospitality and entertainment, owns and operates 15 properties located in Nevada, Mississippi and Michigan, and has 50% investments in three other properties in Nevada and Illinois. One of those investments is CityCenter, an unprecedented urban resort destination on the Las Vegas Strip featuring its centerpiece ARIA Resort & Casino. Leveraging MGM Resorts' unmatched amenities, the M life loyalty program delivers one-of-a-kind experiences, insider privileges and personalized rewards for guests at the Company's renowned properties nationwide. Through its hospitality management subsidiary, the Company holds a growing number of development and management agreements for casino and non-casino resort projects around the world. MGM Resorts International supports responsible gaming and has implemented the American Gaming Association's Code of Conduct for Responsible Gaming at its gaming properties. The Company has been honored with numerous awards and recognitions for its industry-leading Diversity Initiative, its community philanthropy programs and the Company's commitment to sustainable development and operations.
For more information about the company please visit www.mgmresorts.com