MGM Mirage Reportedly Mulls Asian IPO
LAS VEGAS (
) --
MGM Mirage
(MGM) - Get MGM Resorts International Report
and its Macau, China, casino partner, Pansy Ho, plan to expand their casino operations in Macau and are mulling an initial public offering,
Bloomberg
reports.
The partners have begun inspecting sites for potential resorts within Macau. CEO Jim Murren told
Bloomberg
the Macau venture was under-represented in the market.
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It was reported earlier this week that MGM rival
Las Vegas Sands
(LVS) - Get Las Vegas Sands Corp. Report
plans to
list as soon as next month its Macau assets
on the Hong Kong stock exchange.
Wynn Resorts
(WYNN) - Get Wynn Resorts, Limited Report
, meanwhile, held its IPO for its Macau assets earlier in October.
The news from MGM comes on the same day reports surfaced that travel restrictions were being tightened in the region, potentially hurting the revenue of casino operators in Macau.
In September, Macau reported that gambling revenue had more than doubled, making it a profitable area of growth for casino operators that are having trouble in the United States amid the economic downturn.
