WASHINGTON — MGM Resorts International is offering a few well-heeled individual investors and minority business owners a chance at taking a stake in the MGM National Harbor casino and resort — and a share in its gambling revenue.
MGM has established Aspire Holdings LLC, an entity that will own a nonvoting interest in MGM National Harbor. Through what it calls the Aspire Program, the company will seek up to $30 million in investments from Prince George’s County residents and up to $10 million in investments from minority business enterprises in the state.
The investments are being offered to accredited investors — meaning those with a net worth greater than $1 million excluding the value of their primary residence — or income over $200,000 a year.
The Aspire program will be open to no more than 90 investors, and investments will range from $100,000 to $5 million.
Investors will receive distributions from MGM National Harbor that are equal to 0.5 percent of its annual net gaming revenue.
MGM National Harbor is scheduled to open late this fall.
