The Macau Metro Monitor, January 7, 2011
"THERE ARE MORE OPPORTUNITIES" IN MACAU BEYOND COTAI: MGM'S JAMES MURREN macaubusiness.com
MGM CEO Murren said in an interview, “We think that the prospects for us to be in Cotai are bright. We know that we are moving down the path and we hope that we will be fortunate enough to be there. However, it is very important that we do not think of this as the only opportunity to grow in Macau. There are more opportunities on the peninsula and throughout the SAR in general. We are keeping our eyes open.” Talking about the recent inclusion of new junket operators at MGM Macau, Mr Murren noted, “the market is becoming more competitive, the [VIP] operators are becoming more discerning and they are more selective in terms of where they would like to set up the ‘shop’."
Murren didn't specify the target IPO listing of 20 to 25% of MGM’s Macau joint venture, but he said that “part of the proceeds, when we do it, will be allocated to developing more in Macau, hopefully in Cotai.”