MGM Grand Paradise to IPO in 2010
MGM Mirage CEO Jim Murren spoke with Las Vegas Sun reporter Jon Ralston on Monday, primarily about the opening of CityCenter. On small tidbit to come out of the fourth segment of discussion was Murren mentioning plans to take MGM Grand Paradise public in early 2010.
Funds raised would go to reducing MGM Mirage's debt load, NOT to finish MGM Grand Macau phase II or begin the MGM Cotai project. For those who don't know, MGM Grand Paradise is the umbrella name for the MGM Mirage / Pansy Ho joint venture which owns MGM Grand Macau.
Watch the entire interview here.