The 50/50 casino joint venture project between Pansy Ho and MGM Mirage is due to open its doors in Macau next Tuesday. Even before the first customers cross the threshold, funding for a second phase expansion on a site in Cotai has been secured. Preliminary plans have been submitted and are awaiting approval by the Macau government, after which MGM Grand Paradise Limited will make a decision on the final form the expansion will take.

The MGM Grand Macau is the first MGM Mirage venture into Asia. Last month Terry Lanni, Chairman and CEO of MGM Mirage, said, "We believe December 18th will mark the beginning of a new era in Macau. We have long anticipated our Macau debut and, most importantly, the opportunity to demonstrate the combined capabilities of our partnership. Many dedicated and talented individuals have spent months in preparation for this one moment. We look forward to opening the doors and letting Macau and the rest of the world see what we have created."

The new US$1.25 billion resort features 600 rooms, suites and villas; a grand casino offering around 375 table games, 900 slot machines and 16 private gaming salons for preferred customers; and the signature Grande Praca showcasing Portuguese-inspired architecture, dramatic landscapes and a glass ceiling rising 82 feet above the floor of the resort.

The 35-story resort will also include convertible convention space, world-class spa and swimming pool facilities, and a variety or restaurants that continue in the MGM Grand tradition of culinary talents celebrating the diversity of international tastes and influences. These unique elements, combined with the high-quality service provided by its 6,000 employees will define this new resort.

MGM Grand Macau has been built on the waterfront in the city centre, close to other VIP casinos such as Wynn Macau, Grand Lisboa and StarWorld. Around two-thirds of Macau gambling revenue comes from gamblers who bet a minimum 1 million Pataca (US$125,000) per visit. The MGM Mirage brand is well-known in Asia, and the latest casino to open in Macau will focus on attracting the high end market. MGM Mirage is the last of the six operators licensed in Macau to open its first casino.
(E-12.14.07)

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