22/06/2004 21:15
MGM in Macau casino deal
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LAS VEGAS: MGM Mirage Inc will build a major hotel-casino in the Chinese enclave of Macau, one of the most lucrative gambling markets in the world and a prized target of Las Vegas based-casino operators.
MGM Mirage said on Monday it had entered into an agreement with Pansy Ho Chiu-king, the daughter and business partner of Hong Kong tycoon Stanley Ho, who had held a four-decade gambling monopoly in Macau.
The financial terms were not released, but UBS Warburg analyst Robin Farley said in a research note that the casino could cost from US$400mil to US$500mil.
Full story:The Star Online
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