The 12 attractions in “the theme park (are) not quite as advanced because the rides come in from wherever they’re manufactured and assembled on the site,” Maxey said. “Seventy-three percent of the $ 825 million construction budget has either been paid out for work completed or committed on fixed-price fully guaranteed contracts.” ![]() Maxey confirmed that the Vegas resort is ahead of sked and on budget. Robert Maxey, prexy/CEO of MGM Grand Inc., explained: “That means we can use the MGM name on a theme park anywhere in the world including Orlando as long as we do not make live movies in the theme park.” Referring to earlier lawsuits between Disney, Metro-Goldwyn-Mayer/United Artists film studio and MGM Grand, Yemenidjian added: “Disney won against the studio, but Disney lost against MGM Grand.” received from the sale of the MGM studio in November 1990.)ĭuring a slide show presentation about the mega-project, Yemenidjian noted that MGM Grand was given the greenlight by the courts to build the theme park despite legal battles with Disney. (Ironically, the $ 1 billion budget is roughly the same figure that former film studio-owner Kerkorian and his holding company Tracinda Corp.
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