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MGM to open Macao VIP casino?

MGM Mirage, which is about to open a new casino in Macao, has found the money to pay for further expansion in the Chinese gambling enclave.

Reclaimed land called the Cotai Strip has been bought up by MGM in the hope that it can be developed into another Las Vegas-style resort.

Casino bosses say that if the Chinese government approves the plan the resort will be aimed at the VIP market.

"Once we get the approval, we will decide how to go forward," said Pansy Ho, MGM Grand managing director.

"MGM Mirage is the leader of the high-end market. We feel that it's easy for us to do the same here. We will continue to work hard and reach this goal."

Next week, the new MGM Grand - boasting 385 gaming tables and 890 slot machines - will open its doors to Macao casinos-goers.

Meanwhile, MGM is planning to launch a 50,000 sq ft casino at Foxwoods in Connecticut, aimed at a "younger crowd".