New MGM National Harbor Will Benefit Entire Region, MGM CEO Predicts

When the $1.4 billion MGM National Harbor opens next week across the river from Alexandria, nearby businesses in the region are hoping to also reap more profits from an influx of visitors. "We encourage people to visit the DC metro area, go to Virginia, explore the Mid-Atlantic," MGM CEO Jim Murren said Friday, in a speech at the National Press Club.

"As you may have heard, MGM National Harbor opens next week," he told a packed room at the press club in Washington, D.C. Murren called MGM National Harbor the "culmination of the evolution of MGM and its future," a transformation that began in 2010, moving the company from a holding company to an entertainment company.

The casino resort at National Harbor, Md., opens Thursday at 11 p.m. to the public, with the parking garage opening at 10:30 p.m.

MGM National Harbor is more than a casino, Murren said. "Gaming is just part of the mix. MGM makes less than half of its total revenue from gaming." The resort, he said, is designed to attract a broad audience, with not just gambling as an attraction but also concerts, restaurants, a spa, a $30 million art collection and a conservatory twice the size of MGM's Bellagio conservatory in Las Vegas, he said. The resort also expects conferences and events such as weddings to be booked there.

Murren described the new resort casino as a "global destination" and the investment by MGM as "unprecedented." Murren pointed out that the resort will help the entire region by inspiring international tourists, who he said spend about $4,400 during a typical visit, to spend an extra half-day visiting the region.

MGM National Harbor has hired more than 4,000 people to work at its resort casino, Murren said, adding that MGM received 40,000 employment applications.

For those worried about traffic? Murren said that a local site selection committee chose the location. "I expect people to show up," he said. Roads have been widened, parking is available and MGM National Harbor is a 24/7 business, he noted.

PHOTO: MGM CEO Jim Murren stopped by the National Press Club Friday to talk about MGM National Harbor, opening Thursday. Photo courtesy of MGM