Announcing the resort in October 2007, MGM Mirage estimated the construction would "have a budget in the $4.5-$5 billion range", with ground to be broken in 2008 and the hotel to open in 2012. In October 2008, MGM Mirage declared in its third-quarter financial report that development activities for the resort other than design and pre-development had been postponed due to economic conditions of the late-2000s recession and the credit market environment from the financial crisis of 2007–2010. On March 12, 2010, MGM Mirage announced it would stop doing business as a gaming licensee in New Jersey, effectively killing the project.
The project was to include three separate interconnected hotel towers, each aimed at a distinct type of customer, including an all-suites tower for high rollers. The plan also included a theater, spa, convention center and 500,000 sq ft (46,000 m2) of retail space. MGM Resorts still owns the 72-acre tract of land where the casino was going to be built on.