MGM Mirage is getting its birthday wish this year, for it looks like they will definitely be opening a casino in Macau with the help of Pansy Ho, daughter of the Macau gambling empire kingpin, Stanley Ho.  The deal between the two brings in millions of dollars and is still thirsty for more investments by a third party.  The casino is planned for debut in late 2007, and will cost an estimated $1 billion, (upped from a previous estimate of $975 million) to construct at the current rate.

Pansy Ho, the daughter of Macau gambling kingpin, Stanley Ho, was made a deal with MGM Mirage in Las Vegas to build a casino which Stanley Ho gave his daughter the rights to build.  This was a surprising announcement to many, considering the shady reputation hanging over many of Ho's casinos.  Known to be associated with organized crime and prostitution rings, the Ho Casinos make up a majority of Macau's economy, thereby giving its sole owner a lot of power.

And that power was wielded when Stanley Ho gave his daughter the rights to open her own casino.  Pansy Ho was always known as being a hard party girl, until she changed herself into an even tougher business women after getting her business degree from the University of Santa Clara.  Now, Pansy is working out the negotiations with MGM Mirage without any of her fathers help whatsoever.

Until late, Pansy has been overseeing tourism industry sectors in Macau, that include golf courses, the Macau Tower and boat transportation to her father's casinos.  She is officially titled the Managing Director of Shun Tak Holdings, which handles tourism enterprises of the Stanley Ho empire.

The deal is said to have garnered $180 million in equity plus a $100 million loan from MGM Mirage, $80 million in equity from Pansy herself, and will still need considerable investment from a third party, which should not be hard to find at all.  The casino is scheduled to be built near the latter half of 2007 at a newly estimated total cost of $1 billion.

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