MGM Resorts International to Sell Railroad Pass Hotel & Casino to First Federal Realty

September 5, 2014
Henderson, Nev., Firm to Acquire 83-year-old Iconic Gaming Property

Las Vegas, Sept. 5, 2014 --MGM Resorts International (NYSE: MGM)  today announced that it has entered into an agreement to sell the historic Railroad Pass Hotel & Casino to First Federal Realty of Henderson, Nev.


“MGM Resorts is continually reviewing its portfolio of resorts, land, and other assets to ensure they align with our strategic framework as a leading entertainment and hospitality company,” said Dan D’Arrigo, Executive Vice President, Chief Financial Officer and Treasurer of MGM Resorts. “As a result of this review and careful consideration for the future of Railroad Pass Hotel & Casino, its employees, customers and the communities it has served for 83 years, we have entered into a Purchase and Sale Agreement for Railroad Pass Hotel & Casino with First Federal Realty and Joseph M. DeSimone Jr., its principal, who has a long history in southern Nevada,” D’Arrigo continued.


Mr. DeSimone has resided in Henderson since 1991 and founded First Federal Realty, a commercial real estate firm, in 1996.


First Federal Realty intends to retain all employees of Railroad Pass Hotel & Casino. Curt Thompson will continue as Executive Director.


“I’m very excited about the future of Railroad Pass, its employees, customers, vendors and the Las Vegas, Henderson and Boulder City communities,” DeSimone said. “I’m thrilled to be associated with this iconic and historic property.”


Mr. DeSimone will secure his gaming license, and in the interim following closure of the sale, Marcus Suan, a well-known and long-time gaming licensee and operator, will run the casino operations.


Terms of the sale were not disclosed, and a date for the closing is contingent upon regulatory approvals and other customary closing conditions.


About MGM Resorts International

 MGM Resorts International (NYSE: MGM) is one of the world's leading global hospitality companies, operating destination resort brands including Bellagio, MGM Grand, Mandalay Bay and The Mirage.  The Company also owns 51 percent of MGM China Holdings Limited, which owns the MGM Macau resort and casino and is in the process of developing a gaming resort in Cotai, and 50 percent of CityCenter in Las Vegas, which features ARIA resort and casino.


For more information about the Company please visit


Statements in this release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and involve risks and/or uncertainties, including those described in MGM Resorts’ public filings with the Securities and Exchange Commission. MGM Resorts has based forward-looking statements on management’s current expectations and assumptions and not on historical facts. Examples of these statements include, but are not limited to, statements regarding the closing of the sale of Railroad Pass Hotel & Casino, the retention of all existing employees and Mr. DeSimone’s ability to obtain a gaming license. These forward-looking statements involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include effects of economic conditions and market conditions in the markets in which MGM Resorts operates and competition with other destination travel locations throughout the United States and the world, the design, timing and costs of expansion projects, risks relating to international operations, permits, licenses, financings, approvals and other contingencies in connection with growth in new or existing jurisdictions and additional risks and uncertainties described in MGM Resorts’ Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports). In providing forward-looking statements, MGM Resorts is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If MGM Resorts updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.



For further information: Yvette Monet, MGM Resorts or 702-491-6426 OR Chris Reis, First Federal Realty (o) 702-990-8660