MACAU BUSINESS
How is the Vietnam project going? It is on track. We will be the operator of one of the
hotels. There will be multiple hotels over time, but the first Ho Tram property is an MGM Grand. At the same time, the government is working very
hard to improve the infrastructure and access to the beach. It seems like the construction schedules are still well aligned. The improvement to the infrastructure, the highway system, the port system to get conveniently to Ho Tram will be done at the time the MGM will open up.
You are very keen on online poker. I suppose
you expect legalisation in the US soon. Does MGM want to be one of the first players entering this market? Yes. It’s a very large commercial opportunity in the
United States. We have been involved in Internet gaming in one form or another for over 10 years. We actually launched a site back in 2001, on the Isle of Man. Of course, it did not take bets from US citizens or from people from other countries that did not permit gaming. It became a very good test case for us as to how to operate such a site. The time is now correct in the United States. There is bipartisan political support. There’s a tremendous amount of gaming that it’s going on right now illegally. A strong federal bill would create a much safer regulatory framework and I believe there’s good support for this. We will be ready to run out the door as soon as that is approved.
A year ago, you were cautiously optimistic about MGM Resorts’ City Center, which opened in December 2009. What about now? Much more so. We had a good year, a very solid
year, with growth in every metric. It has become a very popular destination. Aria is one of the most popular resorts in Las Vegas today. It received its five- star recognition. [City Center] scores really well on travel websites. It’s financially quite profitable and building up all the time.
Stocks are traded on rumours, on expectations, on nuances. You need to have a view on where China is going over the next couple of years, where Macau is going.
Leading change Jim Murren joined MGM Grand Inc., a predecessor of MGM Resorts
International, as chief financial officer in 1998, after spending more than a decade on Wall Street, where he was regarded as a leading analyst of the restaurant, hotel and gaming industries. He completed significant acquisitions over the next seven years,
overseeing the transformation of MGM Resorts International into one of the world’s leading gaming companies.
He was named chairman and chief executive in December 2008. Mr Murren graduated with a bachelor’s degree in art history and
urban studies from Trinity College, Hartford in 1983. Along with his wife, he was a founder of Nevada’s official cancer research and treatment centre, the Nevada Cancer Institute, where he is a member of its board of directors.
He is also a member of the boards of the American Gaming
Association and of the University of Nevada, Las Vegas, and of several other institutions.
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