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MGM Mirage in talks to develop a casino in Taiwan

Published: 07 Jun 2009 19:10:24 PST

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Jun. 8, 2009 (China Knowledge) - MGM Mirage, the second-largest casino operator in the world, is in negations with three investor groups to develop a casino in Taiwan to enhance its presence in the fast-growing Asian market, said Lloyd Nathan, president of the company's global gaming development, Reuters reported.

Nathan said that the three unnamed investor groups are all Taiwanese and will fully finance the development, while cash-squeezed MGM, the largest Las Vegas Strip casino operator, will run the business.

Though there has been a lot of excitement about an MGM casino on the island, there are many unanswered questions on issues such as regulation and taxation structure, investment criteria and whether tourists from mainland China would be permitted access to the casinos, said Nathan.

Nathan, who is keen on aggressive expansion in Asia, added that MGM is also seeking potential projects in Japan and the Philippines and was negotiating with major Japanese conglomerates.

In January this year, Taiwan's legislature passed a bill to lift the ban on gambling.

Taiwanese authorities will allow the establishment of up to two gambling resorts, which are expected to start operation as early as 2013, according to an earlier report from China Knowledge.

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