Hospitality industry leader will more than double solar electricity access
LAS VEGAS, Sept. 12, 2024
/PRNewswire/ -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") is making a bold leap
toward its ambitious sustainability goals, signing a power purchase agreement with Escape Solar LLC that
will more than double its access to clean solar electricity—an extraordinary stride toward a greener future.
The agreement will help propel the Company closer to its goal of procuring 100% renewable electricity in
North America by 2030. Already a global leader in sustainability with the world's largest direct connect
solar array in the hospitality industry, MGM Resorts currently uses solar power for 90% of the total daytime
needs at 11 of its iconic Las Vegas Strip properties. This visionary 25-year compact will amplify the
Company's renewable energy capabilities and extend production to cover 100% of those properties' total
daytime needs. In addition, Escape Solar +'s battery storage will enable the extension of renewable power
provided into the late afternoon and early evening hours to include uses such as exterior property lighting.
The Escape Solar + Storage project, which will be operated by Estuary Power, is slated for construction in
Lincoln County, Nevada. It will combine a 115 megawatt (MW) solar facility with a state-of-the-art 100
MW/400 MWh battery storage system. The facility will produce an amount of renewable electricity equivalent
to the annual power usage of more than 28,000 average U.S. homes. Operations are expected to kick off in
early 2026, marking a significant milestone in MGM Resorts' journey to sustainability leadership.
"This agreement is the next step toward the achievement of our climate goals. We have our eyes on
meeting our science-based targets and goal of sourcing 100% of our electricity in North America from
renewable sources by 2030," said Bill Hornbuckle, CEO and President at MGM Resorts. "As we continue the
journey toward greater sustainability, we remain dedicated to finding new ways to reduce our carbon
footprint, conserve resources and inspire others to join in building a more sustainable world for
generations to come."
In 2023, the company achieved two notable goals related to carbon emissions: reduce emissions by square foot
by 45% by 2025 and reduce emissions per square foot by 50% by 2030. Since 2016, MGM Resorts has
significantly reduced its carbon emissions through renewable energy projects including:
- 323,000-panel Mega Solar Array providing 100 MW to MGM Resorts locations in Las Vegas
- 26,000 solar panels atop the Mandalay Bay Convention Center providing 8.3MW to that property
- 100-kW rooftop solar array to help power T-Mobile Arena
- 3,456 solar panels atop the parking garage at MGM Springfield in Massachusetts
The Company strives to lead the hospitality industry in its response to a changing climate
with transparency, accountability and actions informed by the latest climate science. Click here to learn more about climate action at MGM Resorts.
"Estuary is delighted to contribute to MGM Resorts' industry-leading renewable energy objectives by supplying
solar energy and battery capacity from our Escape Solar project," said Jill Daniel, CEO of Estuary
Power. "MGM Resorts' purchase of renewable energy from Escape will reduce carbon emissions by nearly
250,000 metric tons annually. In addition, Escape will generate substantial economic benefits for
Lincoln County, Nevada as the first utility scale solar project in the county and will create over 250
well-paying construction jobs."
ABOUT MGM RESORTS INTERNATIONAL
MGM Resorts International (NYSE: MGM) is
an S&P 500® global entertainment company with national and international locations
featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces,
incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife
and retail offerings. MGM Resorts creates immersive, iconic experiences through its suite of Las
Vegas-inspired brands. The MGM Resorts portfolio encompasses 31 unique hotel and gaming destinations
globally, including some of the most recognizable resort brands in the industry. The Company's 50/50
venture, BetMGM, LLC, offers U.S. sports betting and online gaming through market-leading
brands, including BetMGM and partypoker, and the Company's subsidiary LeoVegas AB offers sports
betting and online gaming through market-leading brands in several jurisdictions throughout
Europe. The Company is currently pursuing targeted expansion in Asia through the integrated resort
opportunity in Japan. Through its "Focused on What Matters: Embracing Humanity and Protecting the Planet"
philosophy, MGM Resorts commits to creating a more
sustainable future, while striving to make a bigger difference in the lives of its employees, guests, and in
the communities where it operates. The global employees of MGM Resorts are proud of their Company for being
recognized as one of FORTUNE® Magazine's World's Most Admired Companies®. For more information, please visit
us at www.mgmresorts.com. Please also connect with us
@MGMResortsIntl on Twitter as well as Facebook and Instagram.
ABOUT ESTUARY POWER
Estuary Power, based in Reno, Nevada, is a developer and long-term
owner of utility scale energy generation projects. Estuary has a successful track record of delivering
renewable energy to utilities and commercial and industrial customers and a pipeline of over 4
gigawatts of energy generation throughout the western United States. In 2022, Estuary entered a
long-term partnership with Ullico Infrastructure Fund, a $5.5 billion open-ended infrastructure investment
fund sponsored by Ullico, a 100-year-old insurance company.
MGM RESORTS CONTACT:
MEDIA CONTACT
media@mgmresorts.com
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SOURCE MGM Resorts International