MGM Mirage announced plans for a second casino resort in Macau and may also consider more projects in the former Portuguese colony.
MGM will open its first casino resort in Macau later this year where most of the casinos in Macau are located, but will open the second casino in the Cotai Strip area, where Las Vegas Sands, Wynn Resorts and others are building a Las Vegas-style strip.
Terry Lanni, MGM's chief executive, said on Tuesday at the Reuters Hotels and Casinos Summit 2007 that the company could also be interested in developing casino resorts in Japan, if the country passes pro-casino legislation.
The MGM Grand Macau, is built at a cost of about $1.1 billion. It will have about 600 rooms, suites and villas, 345 table games and 1,035 slot machines.
Macau casino revenue is expected to rise from $7 billion in 2006, to between $10 billion and $15 billion by 2010.
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