MGM China Holdings says its Cotai casino will open in “mid-2016,” a little later than originally announced, and unveiled a HK0 million plan (US0 million) to refurbish its MGM Macau.
When the US$2.9 billion MGM Cotai will open was cast into doubt after Jim Murren, chairman of parent MGM Resorts International, said recently that the project had encountered delays in obtaining construction permits.
MGM China CEO Grant Bowie said at a press conference earlier this month that a necessary super-structure permit had been obtained this month and the resort is on target for “mid-2016”.
Bowie also said MGM Cotai resort will feature 37 VIP villas and several “sky lofts” on top of the hotel designed to provide high rollers with an “intimate experience”.
“The question is not about creating more volume or quantity, but it’s about the quality of experience we want to create, a unique and high-quality experience,” he said.
The renovations to MGM Macau will include a new “supreme gaming lounge” for premium-mass and VIP players featuring “smaller table groupings” and more privacy, he said.
Asked about recent declines in Macau’s mass revenue growth (down from 35 percent in the first half to 17 percent in July), Bowie said he is not concerned.
“I am still committed to the fact that the central government will continue to support Macau,” he said. “But we also have to support the transformation of the central government, as they improve their economy, and that’s good for all of us in the future.”
