MGM Mirage Faces Off With James Packers Crown Casino
On December 17th, 2007, MGM Mirage opens their very first casino resort outside the United States in Macau, putting its business against the Crown Macau, which is managed by James Packer. On the opposite side of this particular issue are the two children of Macau casino mogul Stanley Ho.
The MGM Grand Macau, which is a $1.25 billion casino resort, is owned by MGM Mirage and Pansy Ho, Stanley Ho's daughter. The Crown Macau is owned by James Packer and Lawrence Ho, Stanley Ho's son. MGM Grand Macau is constructed on a top class waterfront and showcases 600 rooms and a casino facility that has four hundred casino gambling tables, 890 slot machines and sixteen private gambling lounges. Its owners are anxious to utilize the gamblers visiting the former colony and lure them away from the newly popular online casinos.
The Mirage casino started after the Crown Casino announces they will spend 2 billion Australian dollars to establish a presence in the Las Vegas gambling market. Crown Casino owns Melbourne's Crown Casino, the biggest casino in Australia as well as Perth's Burswood Casino. The casino organization of Mr. Packer will bought the Cannery Casino Resorts for more than $1.75 billion plus the acquisition expenses of about $49.6 million.
CCR currently operates about four casinos in Nevada and western Pennsylvania. MGM joins the list of global gambling companies that are trying to lure in Chinese players. MGM Mirage International chief executive Bob Moon commented that Macau is the most innovative gambling market all over the world.
The main attraction of the new establishment is the Grand Praca atrium, which has a glass ceiling 25 meter above the ground. The design was inspired by the Central Train Station in Lisbon, Portugal. Sands was the first U.S. gambling company to debut a casino in Macau in 2004 and followed up in August with the $2.4 billion Venetian Casino on the Cotai Strip.
Gambling Tycoon Steve Wynn has also invested in the Macau casino industry. Stanley Ho's Sociedade de Jogos de Macau keeps another of their important licenses, together with Galaxy. In the first 9 months of the year, Macau posted gambling revenues of $$7.5 billion, already more than the $7.3 billion posted in 2006, which saw Macau surpass the total earnings of the Las Vegas strip.
12/24/2007 07:17 PM
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