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MGM To Go Public This Year in Macau

Monday, 14 Feb 2011 | 4:09 PM ET
Frontage of MGM Grand in Macau, China
Mike Clarke | AFP | Getty Images
Frontage of MGM Grand in Macau, China

MGM Resorts are down today despite reporting a smaller than expected loss in the fourth quarter. The casino operator recorded a loss of $0.20 per share, improving performance at its Macau joint venture helped narrow the loss.

Jim Murren, Chairman & CEO of MGM Resorts spoke to Maria Bartiromo and said, "We do expect to go public this year in Macau."

"We're in the Hong Kong stock exchange process right now and that's going extremely well. We can't give an estimate exactly how much money we're going generate. Hong Kong market is very strong. And our property is becoming more and more profitable. There would be logically a lot of interest in this coming offering," said Murren.

As for where MGM’s corporate headquarters are, Murren pointed out “Las Vegas is recovering with luxury units leading it.”

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