MGM Mirage Expanding Their Global Reach With Casino In Egypt

MGM Mirage has been in and out of financial danger for the past several years. They recently have stabilized, and are now ready to resume expanding their global reach. That will begin with an effort to bring a casino bearing their name to Egypt.

MGM is already involved with casinos in Macau and other areas of the world, and the move to Egypt seems like a logical one. They are partnering with New Giza for Real Estate Development on the project, which is set to be completed and open by 2013.

"MGM has gone through a lot of turmoil over the past couple of fiscal years," said observer Marvin Gray, "so to see them settling back into their zone and starting new projects should be good news for investors."

The company's stock has fallen at a dramatic rate, much like other casino operators. They were in danger of losing their CityCenter project earlier this year, but they came to terms with their partners, Dubai World.

The CityCenter project is now in the process of being completed, and MGM has resumed picking developmental partners for projects outside the US. New Giza for Real Estate Development is developing the resort, which will be just outside of Cairo.

The MGM Grand is expected to have 550 rooms. MGM will be responsible for managing the property once it is completed. The company will also have a financial responsibility to help build the casino resort.

June 18, 2009
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
Submit News!

Resorts Atlantic City Casino Selling Mislabeled Beer At Bar
Scientists Using Rats To Find Treatment For Problem Gambling
Louisiana Casino Revenue Continues To Slide From Last Year
Trump Wants Back In At The Casino Company That Bears His Name
Century Casinos Pulling Out Of South African Gambling Market