KUALA LUMPUR - Malaysian gaming group Genting has paid US$100 million (S$145.14 million) for a 3.2 per cent stake in US casino operator MGM Mirage , an official from the US company said on Wednesday.

The stake was offered under a $1 billion equity placement by MGM Mirage last month.

"We take this as a sign of great confidence in our company," Alan Feldman, Senior Vice President of Public affairs for MGM Mirage told Reuters.

Last month, Kuala Lumpur-based Genting and its unit Resorts World had subscribed for a combined $100 million worth of notes issued by MGM Mirage.

The notes were part of MGM's $1.5 billion fund-raising exercise to help settle its outstanding debts and for general corporate purposes.

Malaysian analysts had said the investments could pave the way for Genting to acquire a stake in MGM or take over the US casino operator's investment in MGM Grand Macau.

By 0159 GMT, Genting had fallen 0.8 per cent to 5.95 ringgit a share in a wider market that gained 0.3 per cent. -Reuters