Two Way Hard Three | Las Vegas Casino & Design Blog
June 10, 2009
Genting Takes Stake in MGM Mirage
Posted by HunterThere have been rumblings about this relationship for the past few weeks, some in the context of MGM perhaps unloading Macau assets.
It was announced that Malaysian company Genting has taken a 3.2 percent stake in Las Vegas based MGM Mirage.
http://www.lvrj.com/news/breaking_news/47536387.html
Genting is building a casino resort in Singapore.
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Recent Comments
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- raphnix recently commented "They'll sure start to dominate the casino industry in Asia with this bold a..." in Genting Takes Stake in MGM Mirage
- parchedearth recently commented "I'm not sure what we can read into this. The ownership stake isn't big enou..." in Genting Takes Stake in MGM Mirage
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Comments
I'm not sure what we can read into this. The ownership stake isn't big enough to get a say in the operation of MGM. This could be good faith money to let MGM know they are interested in a deal.
I think its just as likely that Genting wants MGM's help in Singapore (e.g. co-branding) as it is they would buy out MGM in Macau.
They'll sure start to dominate the casino industry in Asia with this bold action. I wonder if they'll direct their market in Macau or just in the Southeast.