MGM Grand Secures Funding For Stage Two of Macau Casino Project

The MGM Grand has entered the market in Macau, the largest gaming operation in the World. They are ready to open next week, but phase two of the project is already in the works.

The company said on Thursday that they have already secured funding for the second phase of the expansion project. The project is going to cost about $1.25 billion, according to reports.

MGM has partnered with a member of Stanley Ho's family on the project. Ho is a legendary casino mogul in Macau. His daughter, Pansy Ho is MGM's partner in the casino resort.

Phase two of the project is waiting on the approval of expansion plans on the Cotai Strip. Once they receive that approval, they will unveil their plans for the Strip, which is similar to the one in Las Vegas.

"With the tourism sector burgeoning in Macau, MGM Mirage is determined to create with Ms. Ho a brand new experience for tourists coming to see the new Macau," said MGM Grand President Bob Moon.