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 Foxwoods casino in Connecticut, expansion valued at over $700 million. A spokesman for the Pequots said however that this plan for New 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.