There are some obvious similarities between those giants of the global gaming industry, MGM Mirage and Harrah’s. For a start there are both companies’ long awaited merger deals, which will keep up their competition for the top spot as the largest gaming operator in the world. MGM Mirage is buying the Mandalay Resort Group and Harrah’s Entertainment’s acquisition of Caesars Entertainment is expected to be completed by mid-year.

Both these US giants are setting their sights on having a major presence in overseas markets. Harrah’s have recently announced their intention of bidding for a proposed casino development in Singapore, where MGM Mirage has already entered an agreement with local property developer CapitaLand in its bid for the Marina Bay site. Harrah’s Asia, a wholly-owned subsidiary of Harrah’s Operating Company, is to make its bid in a joint venture with Keppel Land Investment, part of Singapore’s Keppel Group.

The request by the Singapore government for casino concept plans has received global interest and Harrah’s and MGM Mirage will be bidding along with companies such as Kerzner International, Wynn Resorts and Tabcorp of Australia. The proposals must be presented to the government by February 28, which will then make a decision on whether to proceed with its plans to licence a casino within an integrated leisure complex despite some public opposition. According to the government, that decision will be made by mid-April.

Neither Harrah’s nor MGM Mirage have ruled out the possibility that they will look to the United Kingdom for further expansion, even though the climate for investment has changed radically since amendments to the Gambling Bill have completely altered the original deregulation. However, both companies are reportedly expecting to have a share of the eight mega casinos that the Bill is proposing. They will have quite a wait, as the licensing process will make the opening of such a casino improbable before 2008.

In the meantime, growth and developments within the United States will keep both companies in the news and advancing steadily. There are MGM Mirage’s plans for an ‘urban metropolis’ in Las Vegas and Harrah’s is looking to new tribal partnerships as well as a much increased presence on the ‘Strip’. Neither company is resting on its laurels and further acquisitions and expansion would seem to be on the cards. (E-02.24.05)

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