MGM Mirage Struggles During Recession
MGM Mirage
MGM Mirage, one of the biggest casino brands in the industry, has admitted that it’s struggling during the economic recession.
The company, which owns casinos in Atlantic City, Las Vegas and China, lost $212.6m from April – June this year. While MGM have remained tight lipped about the losses, Chief Executive Jim Murren has suggested that “the operating environment, we think, will remain choppy in the near term”.
The BBC has reported that the New Jersey Division of Gaming Enforcement are keen to investigate the company’s links with Pansy Ho, the daughter of Stanley Ho, a gambling titan in Macau. MGM currently own half of an MGM Mirage Casino in Macau, with the other half belonging to Pansy Ho. It’s believed that MGM is insistent on holding on to its stake in the casino, as it presents the company with “an opportunity of great growth”.
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