The company is negotiating to increase its 30% stake in the Pier Shops at Caesars in Atlantic City, NJ, to 50% ownership. Developed by the Gordon Group, Taubman assumed full management of the center in January. In addition, the company's Taubman Asia division expects to complete definitive agreements to provide development leasing and management services for the retail portion of Macao Studio City in Macao.
"We believe in casino retail and will continue to look at these types of projects," said Robert Taubman, chairman, president and CEO.
Macao recently overtook Las Vegas in terms of gaming revenues, but remains under-retailed.
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