MGM Mirage, based in Las Vegas, Genting Bhd, based in
Maylasia, are contemplating a number of possible business partnerships
in the global gambling industry, MGM Mirage Chief Executive Jim Murren
said.
A partnership could give Genting access to business in Macau, China's gamblingdestination city, where MGM operates, and also offer MGM Mirage entree into other regions of Asia where Genting has a significant presence.
Genting invested $200 million in MGM Mirage, recently, with half of the amount for a 3.2% equity stake and half on a bond issue. Murren said executives from the two companies have had a long relationship, and are interested in working together on an array of projects.
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"We're just starting to brainstorm about global marketing relationships, strategic ventures and partnerships," Murren said.
Discussions between the companies are ongoing.
According to Justin Leong, head of strategic investments and corporate affairs for Genting, the firm has had a variety of discussions with MGM, "but they are still at an early stage," he added.