MGM to build new resort in Canada
The new venue will carry a price tag of $5 billion, but will include a residential area
MGM Resorts International wants to add a new casino resort to its portfolio. It has settled on Calgary, Canada as the new location and has already put the wheels in motion to develop the project. By the time it’s done, it is expected to cost over $5 billion, but will be one of the largest venues ever seen in Calgary.
The integrated resort will cover 22 acres between the Elbow River and Fort Calgary. The casino floor will measure around 3.2 million square feet, and the venue will also offer 1,450 hotel rooms. 2,000 slot machines and 300 gaming tables are anticipated to be installed on the casino floor, and the complex will also offer a convention center, a comedy club, retail spaces and a residential area.
According to MGM’s chairman Christopher Kerker, “Our vision for MGM Grand Calgary is to create a world-class entertainment destination that is unique to not only Calgary but Canada. Today’s announcement is the largest step we’ve taken with our development to date, and we are excited about the opportunity to become a member of this community.
“We believe this new resort will provide visitors with a new reason to visit Calgary and return visitors with another reason to return to this great city. This new destination will become a beacon for economic and tourism activity, and help enable Calgary’s future as the place and promise of Western Canada.”
The project, if given all necessary approvals, could break ground in 2023 with an anticipated completion date of 2026 or 2027. The property’s second phase, which would include the residential towers, would come in 2029.