With more than 5,000 rooms, it was the largest hotel in the world at the time of its opening. Planning began in 1989 for the new MGM Grand. Kerkorian had previously developed another MGM Grand, opened on the Strip in 1973 and renamed Bally's in 1986. The resort was developed by Kirk Kerkorian through his company, MGM Grand, Inc. It is owned by Vici Properties and operated by MGM Resorts International. The MGM Grand Las Vegas is a hotel and casino located on the Las Vegas Strip in Paradise, Nevada.