MGM Mirage to build casino in Macau

22.06.2004, Lesen Sie hier den Bericht über «MGM Mirage to build casino in Macau».

MGM Mirage, the No. 3 U.S. casino company, plans to build and manage a casino in Macau, a Chinese territory that is allowing Western companies to compete in its gambling market.

The property will be jointly owned and operated by MGM Mirage and Pansy Ho Chiu-king, a managing director of Shun Tak Holdings Ltd., Las Vegas-based MGM Mirage said in a statement. The resort, which will use the "MGM Grand" name, may open by late 2006.

MGM Mirage Chief Executive Terrence Lanni, who last week agreed to buy Mandalay Resort Group for $4.8 billion, said he wants to invest the combined companies' cash in overseas markets, including Macau and the United Kingdom. Macau is the closest place for the 1.3 billion people of China and Taiwan to gamble legally in casinos.

Macau, a former Portuguese colony that reverted to Chinese rule in 1999, ended a 42-year gambling monopoly for Stanley Ho in 2001. Pansy Ho is one of Stanley Ho's 17 children.

Shares of MGM Mirage have risen 26 percent this year. The Macau casino may add as much as 25 cents a share to MGM Mirage's annual profit, Susquehanna Financial Group analyst Eric Hausler wrote in a research report. Revenue in the Macau casino market may grow 25 percent a year over the next five years, Deutsche Bank analyst Marc Falcone estimated last month.

The average casino win per table per day in Macau is $22,000, Falcone said. In New Jersey's Atlantic City, the No. 2 U.S. gambling destination, the average is $2,600. In Las Vegas, it's $2,200. MGM Mirage said the Macau casino will be on a waterfront site next to Steve Wynn's Wynn Resorts Ltd. planned resort.

Las Vegas Sands Inc., owner of the Venetian casino in Las Vegas, last month opened the $240 million Sands Macau there.

Macau gets more than two-thirds of its tax revenue from gambling, which last year accounted for 43 percent of its $8 billion economy, government figures show. MGM Mirage trails Caesars Entertainment Inc. and Harrah's Entertainment Inc. in revenue.

Über MGM Grand Hotel and Casino:

Das MGM Grand gehört zu den grössten Hotels der Welt. Der Hotelkomplex besitzt 5'044 Hotelzimmer und ist direkt mit dem Casino verbunden.

Das Casino ist mit seinen 15'930 m2 riesengross und bietet alle Casinospiele an. Die Tischspiele Roulette, Black Jack sind zahlreich vorhanden. Ebenso findet man einen Pokerraum und unzählige Spielautomaten.

Zur Geschichte des MGM Grand Hotel

1973 wurde das original MGM Grand eröffnet. Das Original-Hotel-Casino wurde 1986 von MGM an Bally Entertainment Corp. verkauft und umbenannt ins heutige Bally's.

1993 öffnete das heutige MGM Grand als damals grösstes Hotel der Welt seine neuen Tore.

--- Ende Artikel / Pressemitteilung MGM Mirage to build casino in Macau ---


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