MGM Macau Earns Almost Triple Profits
Posted by admin on Friday Dec 9, 2011 Under News
MGM Resorts International's earnings in Macau have almost tripled in the second quarter of the year. The company earned HKD 1.3 billion before interest, taxes, depreciation and amortization from Macau joint venture.
MGM chairman and CEO, Jim Murren mentioned in a statement that MGM Macau had one more record quarter and the achievement of a controlling interest in MGM China shows a significant step in mounting their international operations and profitability.
"The casino is opening the initial phase of a new VIP lounge next week and the upgrade will be done before October," said Grant Bowie, the head of MGM Macau.
The company is looking to build a new casino resort in Cotai hence the company is working with Macau Govt. to secure a land grant.