Genting buys into MGM Mirage

Malaysian gaming group Genting has paid $100m (&pound;60m) for a 3.2 per cent stake in US casino operator MGM Mirage, in a move to broaden its portfolio of strategic investments. Genting and its unit Resorts World had earlier subscribed for a combined $100m worth of notes issued by MGM Mirage last month. The debt papers were part of MGM&rsquo;s $1.5bn fund-raising exercise to help settle its outstanding debts and for general corporate purposes.<br />