Unique “Trading Alliances” Reported

1) The Foxwood Indian Reservation, home to Connecticut based Foxwoods Resort Casino, has entered into an unusual alliance with the MGM Mirage—wherein both entities will benefit.

Foxwood, wanting to expand its convention and entertainment business will gain access to MGM’s database of more than 22 million customers. It will use MGM’s established partnerships with other companies to help attract new restaurants and top-tier entertainment to eastern Connecticut.

The MGM Mirage, in turn, will have the opportunity to open a hotel and casino alongside one of the world’s most successful casinos...thus gaining brand exposure in the lucrative Northeast gaming market. The new MGM hotel will be operated by Foxwoods employees.

2) Bank of America is in the midst of trading its BankBoston operations in South America for a minority stake in Brazil’s second-largest private bank—Banco Itau Holding Financeira.