Macau casino venture eyes VIP market
Submitted by admin on Fri, 12/14/2007 - 00:55.
HONG KONG: MGM Mirage, the world's second largest casino operator, and the daughter of billionaire Stanley Ho are betting their Macau venture will grab a slice of the VIP market, which nets about two-thirds of the Chinese city's gambling revenue.
The US$1.25bil, 600-room MGM Grand Macau casino, due to open on Dec 18, would benefit from its position on the waterfront in Macau's city centre, near established VIP venues Wynn Macau, Galaxy Entertainment Group Ltd's StarWorld and her father's Grand Lisboa, Pansy Ho told reporters at a briefing in the southern Chinese city yesterday.
“This will be the centre of activity for high-rolling gamblers,'' said Ho, who owns 50% of the venture. “There will be a cluster effect.''
The venture is the last among Macau's six licensed casino operators to launch its foothold in the former Portuguese colony, which surpassed the Las Vegas Strip as the world's biggest gambling hub last year.
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