LC’s Mojito Pointe resort will be part of MGM brand
Published 7:33 am Friday, October 21, 2011
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Creative Casinos managing partner Dan Lee expects that his bid to obtain $400 million in financing for the construction and opening of Mojito Pointe casino resort in Lake Charles will be aided with the news that his company entered into a development and management agreement with MGM Resorts International.
The announcement was made Thursday, months before the expected ground-breaking for the 373 guestroom and casino resort.
Lee told the American Press that he had been in talks with MGM officials since December 2010 to get their support.
“I’ve had a relationship with some MGM resort people for over 20 years. Their CEO (Jim Murren) is a personal friend of mine,” he said.
MGM will invest in the Mojito Pointe project, but the exact amount has not been disclosed.
Lee said the management agreement goes farther than just a financial commitment.
“I’ve met with over 40 financial institutions. They have asked questions like what happens if I get hit by a bus? With MGM here, now I have a way to ensure the project will be completed,” he said.
The businesses’ relationship will also provide Lee with services like MGM’s reservation center, marketing, slot machine systems, computer systems, purchasing systems and training. MGM Resorts International CEO Jim Murren said in a prepared statement that the new relationship is important for his company.
“It provides MGM the opportunity to expand the reach of MGM’s brand into an important regional market and promotes our efforts to further grow,” he said.
MGM built noted casino properties like the Bellagio, the Mirage, Luxor, Mandalay Bay, MGM Las Vegas, Excalibur and Circus Circus in Las Vegas and Beau Rivage in Biloxi.
Once completed, Mojito Pointe will sit on 242 acres of property owned by the Port of Lake Charles, next door to Pinnacle Entertainment’s L’Auberge casino resort. It will have 1,500 slot machines and 50 table games, along with a 2,500-capacity showroom, spa, tennis center, school of falconry and a 18-hole golf course.
W.G. Yates and Sons has been contracted to build the facility.
Lee emphasized the deal will assist the project’s development.
“It is easier to do with a big partner than on my own,” he said.
