Redmond to lead Atlantic City efforts

Thursday, June 1, 2000 | 10:04 a.m.

MGM Grand Inc. of Las Vegas said John Redmond, co-chief executive of MGM Grand, will head the company's development efforts in Atlantic City.

MGM Grand owns seven land parcels in Atlantic City following its buyout of Mirage Resorts Inc., including Mirage's 150-acre "Marina District" site, considered one of the most attractive sites for future development in the city. MGM Grand also owns a 35-acre Boardwalk site assembled over the past few years, but will now review whether it will proceed with development there.

J. Terrence Lanni, chairman of MGM Grand, said the company will proceed with development of the $750 million Borgata, an Atlantic City resort being developed in partnership with Boyd Gaming.

"Following the start-up of the Borgata resort, we are fortunate to have several additional development options available to us and Mr. Redmond will evaluate which of these have the highest strategic value to our company," Lanni said.

In addition to his Atlantic City duties, Redmond will oversee the MGM Grand hotel-casino, the New York-New York, MGM Grand Detroit and MGM Grand's casinos in Primm.