MGM casino opens in China
18th December, 2007
The $1.25 billion (£600 million) MGM Grand Macau opens its doors today and hopes to attract the high rollers already playing at dozens of casinoS in the Chinese territory.
As well as the casino, the development also includes a 600-room hotel and has been built in downtown Macau – a popular spot for wealth gambling enthusiasts.
From January to August 2007, Macau raked in gaming revenues of $7.5 billion (£3.7 million) which beat off the earning in the casinos of the world famous Las Vegas strip.
"We think we are better at (the high-end market)… We think of ourselves more as Rolls-Royce, rather than Volkswagen," MGM Mirage chief executive officer Terry Lanni told AFP.
"That's what we are used to, that's what our people are used to, that's what we excel at."
The casino was opened in a prestigious black tie ceremony which saw Malaysian actress Michelle Yeoh join a number of Macau government officials and local celebrities to enjoy the celebration.
