MGM, Wynn consider Japan IPOs to fund venture

    MGM Resorts and Wynn Resorts are both seeking local partners for potential multi-billion dollar casino ventures in Japan and would ultimately consider listing the local unit, Bloomberg cited the CEOs of both companies as saying in an interview. “We’re absolutely considering an IPO in Japan, but not initially,” MGM CEO James Murren said in Tokyo. “The best model is to put together an ownership group, finance through equity partners, open the facility, generate a strong track record of performance. We did that in Macau,” he was cited as saying. Wynn is actively looking for equity partners, CEO Matt Maddox also said. MGM has held talks with real estate developers and companies including Sony Corp and Panasonic about a possible partnership, the report said.