MGM MIRAGE Shareholders Approve Name Change to MGM Resorts International
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MGM MIRAGE Shareholders Approve Name Change to MGM Resorts International
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Category: Worldwide - Industry economy -
New brands / Affiliations
This is a press release selected by our editorial committee and published online for free on 2010-06-16
MGM MIRAGE (NYSE:MGM) shareholders today approved at their annual meeting a proposal to rebrand the iconic hospitality leader "MGM Resorts International." In addition, the Company announced today that it will relaunch its Players Club loyalty program as M life.
"We believe this evolution honors our heritage, better represents the growing global presence our company has today and positions us to move forward under a unified brand strategy," said Jim Murren, Chairman and CEO of MGM Resorts International. "The new MGM Resorts International name will create better clarity and awareness for our collection of assets globally thereby maximizing our best-in-class portfolio of resorts."
A major initiative under this common vision is the relaunch of the company's current Players Club under the new umbrella brand -- M life. The M life Players Club is a unifying loyalty program that will increase customer intimacy and experience by leveraging the company's unique and incomparable portfolio of assets.
"The M life Players Club is our opportunity to earn the lasting loyalty of our guests by providing them with a simple, comprehensive and appealing program of customer rewards, privileges and appreciation," said Bill Hornbuckle, Chief Marketing Officer for MGM Resorts International. "By creating an easy, transparent loyalty experience with access to our unparalleled variety of resorts, M life engages our guests in more meaningful ways and deepens their emotional connection with our brands."
Hornbuckle added, "It was simply time to go on the offensive and unleash the total power of our unmatched assets by better recognizing customer play and total spend with a more impactful program."
Underlying the program will be a more refined technology that allows M life Players Club members to customize their engagement with the program, so they can define their own Las Vegas experience. Key to the new M life Players Club is a tiered system that rewards players with richer benefits and rewards the more they engage with the company's brands.
The expected roll-out of the M life Players Club is late summer in MGM Resorts' U.S. regional markets and this fall in Las Vegas.
The new corporate name is effective immediately. As part of the brand development, the company unveiled a new, contemporary logo that underscores the company's drive for integration and clarity. The company's stock symbol, MGM, remains unchanged.
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