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Shun Tak Denies Casino Venture with MGM

10 Feb 2004

HONG KONG – As reported by Reuters: "Shun Tak Holdings Ltd (HKSE:0242.HK), controlled by Macau casino mogul Stanley Ho, denied on Tuesday a newspaper report that it was to take part in a venture to be formed with U.S. gaming giant MGM Mirage Inc.

"The South China Morning Post reported that Shun Tak chairman Ho had concluded talks with casino operator MGM Mirage (NYSE:MGG) to set up a new casino in the former Portuguese territory.

"It quoted sources as saying Ho's Sociedade de Jogos de Macau (SJM) and MGM Mirage would announce the deal, which could be worth 4.4 billion patacas (US$566 million), as early as this week.

"…But Hong Kong-listed Shun Tak, without directly mentioning SJM in which Shun Tak has an indirect minor stake, denied the report…"

 
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