MGM China, the Macau Casino from MGM Resorts International and businesswoman Pansy Ho, received $190 million from four major investors for the IPO of the casino in China which is worth $1.5 billion.

Details of the IPO are not here yet, but two sources with direct involvement in the IPO have given some information, on the condition that they remain anonymous. The billionaire hedge fund manager John Paulson is leading the investors with an investment of $75 million. Kirk Kerkorian, the Las Vegas casino magnate is investing $50 million in the casino resort through his private holding company, Trancinda Corp.. The ninety-year-old founder bought the MGM film studio in 1969 and opened the MGM Grand Hotel and Casino in Las Vegas, he is no longer a boardmember, but remains a senior advisor to the company. The real estate magnates Poon Jing of Asia Standard and Walter Kwok of Sun Hung Kai Properties will jointly invest $65 million.

Casino gambling Revenue in Macau, the largest casino gambling city in the world and only place in China where gambling is legal, is continuously on the rise because of the high demand from visitors from the mainland of China who travel to the gambling mecca. In the first four months of the year, the revenue of Macau was $10 billion, as much as Las Vegas earned during the previous year. Analysts say the trade in Macau will very likely continue to be successful. They said: "It seems like the gaming sector is a really hot sector these days, as you can tell from the trading volume, and also from the share price performance of those listed plays. I am sure the IPO will show a good number of oversubscriptions."

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