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Posted At : June 5, 2009 01:32 PM | Posted By : D McKee
Related Categories:
International,MGM Mirage,Economy,Macau
It looks like MGM Mirage is exploring its options for a life-after-Macao scenario. It's not only keeping a watching brief on Japan and even contemplating the scandal-ridden Philippines market, it's making a full-court press in Taiwan. There are two interesting qualifiers to MGM's exploration of what we used to call Nationalist China.
One is that it'd be involved as a franchisor and operator-for-hire, not investing in the casino proper (an arrangement with more upside than what the company currently enjoys in Macao). The other is that among the potential stumbling blocks noted by MGM exec Lloyd Nathan is "whether mainland Chinese tourists would be allowed into the casinos." Intentionally or not, that certainly makes it sound like MGM is considering Tawain as a fallback position if it has to evacuate Macao.
Las Vegas nears bottom: Visitor numbers show some hope-inspiring metrics. If May numbers are as good as state officials are hinting, we may actually start to climb out of this trough.
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