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Taubman Gambles On Growth

BLOOMFIELD HILLS, MI-Taubman is placing big bets on retail projects in two casino areas, Atlantic City and Macao.

By Debra Hazel | Updated on February 09, 2007

BLOOMFIELD HILLS, MI—Retail related to gaming interests will be a growth avenue for Taubman Centers, which continues to expand both in the United States and Asia, executives said at its fourth quarter conference call.

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.

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