Monday, August 3, 2009

Market Watch: MGM not looking to sell Macau stake

Reuters:
http://www.reuters.com/article/innovationNews/idUSTRE57254N20090803


As per my previous post regarding Genting's highly unlikely purchase of MGM's Macau assets, this bit of news supports this view for another business cycle.

It is more likely for MGM to divest itself of American casino interests as I believe the Macau operations will prove to be more profitable in the long run - the basis being the inherent Chinese gambling culture contra the American's more leisurely gambling culture.