The company is negotiating to increase its 30% stake in the PierShops at Caesars in Atlantic City, NJ, to 50% ownership. Developedby the Gordon Group, Taubman assumed full management of the centerin January. In addition, the company's Taubman Asia divisionexpects to complete definitive agreements to provide developmentleasing and management services for the retail portion of MacaoStudio City in Macao.
"We believe in casino retail and will continue to look at thesetypes of projects," said Robert Taubman, chairman, president andCEO.
Macao recently overtook Las Vegas in terms of gaming revenues,but remains under-retailed.
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