Game Types Bonuses Slots More
Online Casinos Poker Bingo Games Lotteries Sports & Racebooks Fantasy Sports Forex Betting Exchanges Spread Betting Binary Options Live Dealers
Weekly Newsletter Online Gaming News Payment Methods Gaming Software Gaming Site Owners Gaming Jurisdictions Edit Preferences Search
 
Bonuses! New games! Gossip! And all the player news you can handle. Sign up NOW!

Related Links

MGM Confident of Macau Approval

2 Feb 2005

MACAU – As reported by the Hong Kong Standard: "American casino giant MGM Mirage is close to securing regulatory approval for its proposed joint venture with gambling heiress Pansy Ho to build a casino in Macau, according to company executives.

"…Former gaming regulators had expected MGM to encounter some difficulty in the approval process because of Ho's involvement with Sociedade de Turismo e Diversoes de Macau and Sociedade de Jogos de Macau (SJM), her family's privately held gambling businesses. Ho is a director of both companies, as well as managing director of Shun Tak Holdings, the Hong Kong-listed hotel, shipping and property company also controlled by the family. MGM's 50-50 joint venture with Ho would operate the casino under a subconcession from SJM.

"…MGM plans to invest US$280 million (HK$2.18 billion) of its own cash in the casino. James Murren, the company's president and chief financial officer, said it expects to seek a big bank loan in April or May for additional funds for the project and that Ho will be putting equity into the MGM Grand Macau as well…"

 
About Us | Advertising | Publications | Land Casinos