February 1, 2016 - 12:19 pm
MGM Resorts International said Monday it secured $525 million in financing that will be used to complete the $1.3 billion MGM National Harbor development in Maryland.
The company said in statement, the 308-room hotel-casino near the Potomac River with near Washington, D.C., will open at the end of this year.
The company recently topped-off the property’s 24-story hotel tower.
Union Gaming Group analyst Chris Jones told investors the loan was a good sign for the development.
“We continue to believe MGM National Harbor will be one of the most profitable regional casinos in the U.S.,” Jones said.
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