Is the pre-eminent Malaysian hotel and gaming company Genting Bhd working out a deal with the MGM Mirage in Las Vegas? Reports out of Asia indicate that Genting’s Resorts World Bhd bought $100 million of MGM Mirage debt. This debt had been sold as part of the MGM Mirage balance sheet restructuring.
There are more questions than answers right now: How will this impact the MGM Macau casino’s? With the current MGM partner – Pansy Ho – being deemed unsuitable because of possible organized crime connections, is this move designed to bring in a party that the Nevada regulators would approve? What would the direct effect be on the MGM Mirage’ Las Vegas business ventures including the MGM Hotel and Casino and City Center?
Stay pointed to Las Vegas Backstage Access for the latest developments.