MGM Mirage to build two new casinos
The gambling giant MGM Mirage
has plans to build two brand new casinos, one in Macau and one
in Atlantic City.
MGM already has a casino in
Macau which should open its doors to visitors in the late 2007,
and they have just announced that they are in the middle of
talks to open a second site on the Strip which would be larger
than the first one. The plans are to have over 600 rooms and
over 1,000 slot machines. Both projects are owned by MGM Grand
Paradise, a joint venture between MGM Mirage and the director of
Shun Tak Holdings Pansy Ho. According the MGM, they are not
looking to stop at just two casino projects, especially if Japan
passes its pro-gambling legislation. The revenue which Macau
generated from its
casinos already surpassed that of Las Vegas
and it is turning to the most desirable place in the world for
building a casino.
MGM Mirage also announced
their plans to build a mixed use
casino and resort in Atlantic
City in partnership with the Pequots Tribal Nation, which owns
the Foxwoods casino. The future casino will sit on 14 acres of
land, next to Trump Marina Hotel Casino in Atlantic City, land
which is owned by MGM, however, Seaboard Towers Development Co.
has taken MGM Mirage to court, claiming that they had an
agreement in 2004 to buy the land from MGM. A judge ruled in
favor of the gambling giant, but Seaboard Towers Development Co.
still has the chance to appeal.
MGM and the Pequots Tribal
Nation already are working together to expand the
casino in Connecticut, expansion valued at over $700 million. A
spokesman for the Pequots said however that this plan for
Jersey casino is just a plan, and nothing has been decided upon.
If the deal goes through, this would be the first Indian owned
casino in Atlantic City.