MGM Mirage waiting for Macau probe to close

12 Oct 2007

ATLANTIC CITY, New Jersey -- As reported by the Press of Atlantic City: "MGM Mirage's blockbuster announcement this week of plans for a $5 billion megaresort in Atlantic City comes as New Jersey gaming regulators are wrapping up a lengthy investigation of the company's casino partnership in Macau.

"The New Jersey Division of Gaming Enforcement is investigating whether Asian billionaire Stanley Ho, long suspected of having ties to organized crime, will have any influence over daughter Pansy Ho's joint venture with MGM for a Macau casino.

"MGM executives insist the timing of the Atlantic City announcement, made Wednesday, is not intended to pressure New Jersey officials to approve the Macau partnership. If New Jersey disapproves of Pansy Ho, MGM could be faced with the decision of abandoning its Atlantic City project to concentrate on Macau.

"...MGM plans to start construction next year on what would be Atlantic City's biggest casino, a mammoth complex of three hotel towers totaling 3,000 rooms surrounded by an array of retail, entertainment, spa and convention amenities. The estimated $4.5 billion to $5 billion development is expected to open in 2012 in the Marina District next to Borgata Hotel Casino & Spa. MGM co-owns Borgata with Boyd Gaming Corp.

"Jim Murren, MGM's president and chief operating officer, said the Atlantic City casino announcement has nothing to do with securing regulatory approvals for the Macau partnership..."

copyrighted material written for and appeared exclusively in The Press of Atlantic City

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	MGM Mirage waiting for Macau probe to close 12 Oct 2007 ATLANTIC CITY, New Jersey -- As reported by the Press of Atlantic City: "MGM Mirage's blockbuster announcement this week of plans for a $5 billion megaresort in Atlantic City comes as New Jersey gaming regulators are wrapping up a lengthy investigation of the company's casino partnership in Macau. "The New Jersey Division of Gaming Enforcement is investigating whether Asian billionaire Stanley Ho, long suspected of having ties to organized crime, will have any influence over daughter Pansy Ho's joint venture with MGM for a Macau casino. "MGM executives insist the timing of the Atlantic City announcement, made Wednesday, is not intended to pressure New Jersey officials to approve the Macau partnership. If New Jersey disapproves of Pansy Ho, MGM could be faced with the decision of abandoning its Atlantic City project to concentrate on Macau. "...MGM plans to start construction next year on what would be Atlantic City's biggest casino, a mammoth complex of three hotel towers totaling 3,000 rooms surrounded by an array of retail, entertainment, spa and convention amenities. The estimated $4.5 billion to $5 billion development is expected to open in 2012 in the Marina District next to Borgata Hotel Casino & Spa. MGM co-owns Borgata with Boyd Gaming Corp. "Jim Murren, MGM's president and chief operating officer, said the Atlantic City casino announcement has nothing to do with securing regulatory approvals for the Macau partnership..." copyrighted material written for and appeared exclusively in The Press of Atlantic City

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MGM Mirage waiting for Macau probe to close