DAILY NEWS Feb 3, 2013 5:00 PM - 0 comments

Cadillac Fairview and MGM Resorts are betting big

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TORONTO 2013-02-03

The Cadillac Fairview Corporation Limited and MGM Resorts International have formed a 50/50 joint venture with the purpose of bidding for, developing and operating a destination-style, integrated resort complex within the Greater Toronto Area.

“Cadillac Fairview recognizes the enormous benefits that can accrue to the city of Toronto from an integrated resort and we’re proud to partner with MGM Resorts to develop this exciting project,” said John Sullivan, president and CEO of Cadillac Fairview. Cadillac Fairview and MGM are working on jointly conceiving a project that includes entertainment, gaming, hotel, retail and conference facilities. The joint venture will design, develop and construct the resort under one or more brands owned by MGM. The project’s preliminary design and scope already include a permanent Toronto Cirque Du Soleil experience as well as a partnership with Toronto restaurateur Mark McEwan to develop new dining concepts for the integrated resort.

"We look forward to working with city officials and community stakeholders in support of Council’s decision on the optimal site for an integrated resort, and to maximize its benefits to the city through a fair and competitive process," said Sullivan in a press release.

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