“The combination of MGM Mirage’s operational expertise and Mubadala’s extensive resources will create a formidable hotel company,” Mubadala’s Chief Executive Khaldoon Khalifa Al Mubarak said in a statement.

The venture will initially target locations in Abu Dhabi and Las Vegas and plans to develop its own hotel brands. Both companies and the venture will provide management and development services for the planned hotels.

MGM Mirage, which operates 19 properties in Nevada, Mississippi, and Michigan, is transforming itself from a pure gambling company to a broader lodging and entertainment group, as it expands internationally.

Earlier this month, MGM signed a similar joint venture with China’s Diaoyutai State Guesthouse in Beijing to develop nongaming hotels and resorts.

MGM has not announced specific projects for either venture.

Mubadala is an investment and development company owned by the government of Abu Dhabi.