There is little mention about their Macau Casinos, except on the Dec. 18 opening of the $1.25 billion MGM Grand Macau, a 50% joint venture in the Chinese gambling enclave of Macau, which had preopening and start-up expenses in the 2007 quarter of $25 million related to the preopening expenses at MGM Grand Macau. It also recently obtained funding for what Lanni called “seed money” for a second project on Macau’s Cotai Strip.

Casino giant MGM Mirage Inc. reported soaring fourth-quarter profits Thursday, including a hefty gain related to its CityCenter project under construction on the Las Vegas Strip.The world’s second-largest casino company said net income surged to $872.2 million, or $2.85 per share, in the period ending Dec. 31, compared with $201.6 million, or 69 cents per share, in the same period in 2006.

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Figures due this week are expected to show that Macau is bigger than Las Vegas. The former Portuguese enclave in China raked in US$10.4 billion in gaming winnings in 2007, virtually matching the 2006 take for Clark County, the Nevada jurisdiction that includes Las Vegas and surrounding areas.

If Macau misses in the 2007 data, it’s only a matter of time before it leaves Las Vegas twinkling in its rearview mirror. Macau already far outearns the famous Las Vegas Strip, even though the Strip has a 50% advantage in the number of both visitors and casinos. Minimum bets in the Chinese territory usually set at HK$100 (US$12.85), compared with a less than US$1 in some Vegas locations, allow Macau to take in far more per customer and per table than Las Vegas.

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Asia’s casinos, including Macau, need strong internal controls and surveillance to guard against organised efforts to cheat them, a member of the Nevada Gaming Control Board said on Wednesday.

While Las Vegas once had a reputation for mafia infiltration, Randall Sayre told reporters that those now attempting to cheat its casinos “are not necessarily connected to traditional organised crime as one would anticipate.”

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The US based entertainment firm MGM Mirage and Dubai World could make joint investments in Macau and the mainland, according to MGM’s Chairman and CEO Terry Lanni and cited by the Financial Times.

Lanni, who has just seen MGM open MGM Grand Macau, its first casino in Macau, said the projects would be ‘non-gaming’.

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Just for the ones who like to see some of those MGM Grand Macau opening video clips!

And Now The Lion Roars!

Opening Party at MGM Grand Macau

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Gaming giant MGM Mirage on Tuesday raised the curtain on its only casino resort outside the United States with a glitzy opening ceremony in the world’s biggest gambling hub of Macau.

MGM Grand Macau, half-owned by MGM Mirage and half by Pansy Ho, daughter of the original Macau casino mogul Stanley Ho, joins its rivals in trying to attract the hordes of Chinese gamblers from across the border.

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MGM Mirage said yesterday it was unconcerned about the overcapacity of hotels and casinos in  Macau, a day before it opens its casino. MGM Mirage chief executive officer Terry Lanni also dismissed fears about rising construction costs as foreign companies poured in billions of dollars into building casinos and hotels to tap the booming gaming market.

MGM Grand Macau on “The Strip”

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Managing director of MGM Grand Macau, Pansy Ho, said during the pre-opening press conference yesterday that the new hotel resort would create a healthy competition among the neighbouring entertainment venues.

Media from Macau, Hong Kong, China and other overseas countries were invited for an exclusive preview of the 35-storey hotel tower which is due to open on December 18 in Nape.

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