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?
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