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MGM MIRAGE announced today that it has entered into a joint venture agreement with Pansy Ho Chiu-king to develop, build and operate a major hotel casino resort in S.A.R. in Macau.
The facility, which will use the name "MGM Grand," will be owned and jointly operated by the two partners at 50/50. The resort will be located near the prime waterfront site next to the win resort facility and the Lisboa Hotel-Casino, which will be a casino "strip" in Macau. Design and planning work has begun, and it is expected that the facility will be able to open by the end of 2006.
The joint venture will operate as an independent company under the terms of the acquisition in Macau. The agreement will depend, among other things, on the approval of the Macau government and other regulatory approvals, as well as on the signing of a merger and acquisition agreement with the concession holder Sociedade de Jogos de Macao (SJM).
Panshi Ho is managing director of Sun Tak Holdings Limited, a leading Hong Kong conglomerate that operates four core businesses: shipping, real estate, hospitality, and investment.
Terry Rani, chairman and CEO of MGM Mirage, said, "We are excited to enter the Macau market with our most respected partner, Fancy Ho. We have always said that we want to participate in Macau under the appropriate circumstances. We are very excited about our collaboration with Fancy Ho."
Terry Rani, chairman and CEO of MGM Mirage, said, "We are excited to enter the Macau market with Fancy Ho, our most respected partner. We have always said that we want to participate in Macau under the appropriate circumstances. We are very excited about our joint venture with Fancy Ho."
In addition to her stint at Suntak Holdings, Pan Ji Ho is the director of S.A.R.L. Sociecade de Turismoe Diversoes de Macao and the chairman of the Macau Tower Convention and Entertainment Center. She is also a member of the Chinese People's Political Consultative Conference in Beijing, a member of the executive committee of the All-China Industrial and Commercial Federation, the vice president of the Guangdong Foreign Investor Chamber of Commerce, and the founding honorary adviser and board director of the Hong Kong University Educational Development Research Foundation. 바카라사이트 추천