THE M3: MGM EYEING MULTIPLE PROPERTIES IN MACAU; SJM COMMENTS

The Macau Metro Monitor, August 4th, 2010


MGM RESORTS PLANS NEW MACAU CASINOS AFTER 'TURNING POINT' IN JUNE REVENUE Bloomberg

CEO Murren said on Bloomberg that MGM plans to build multiple properties in Macau and more properties in Asia over time. "We are starting to assert ourselves in Macau," added Murren.  Aggressive new terms have been negotiated with junket consolidators and the company has just raised US$950m for refinancing of existing debt and added liquidity.

 

SJM IS STILL INTERESTED IN THE COTAI DEVELOPMENT PROJECT Macau Daily News

SJM CEO Shu Fai So said they had already expressed their interest in the Cotai development project to the local government.  SJM has not received any official notification from the government with regards to the land grant application but So believes a announcement will come shortly.  So also said that if China does not tighten its macroeconomics policy any further this year, GGR will grow at least 30% YoY.


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