MGM originally planned no VIP room
Macau junket operator Meg-Star International says it will open two new VIP gaming clubs in the city, including one at City of Dreams Macau, a Melco Entertainment property, and MGM Cotai, an integrated resort set to open January 29. MGM Cotai originally indicated it would not include a high-roller room.
Investment bank Credit Suisse AG said in a recent note that it’s recorded slowing in the rate of VIP casino gross gaming revenue growth in the Macau market since mid-December. But the junket operator is looking on the bright side. In an email to GGRAsia, Meg-Star wrote, “Due to the overall economy improvement and new projects entering into the market, Meg-Star maintains a positive view on the development of the Macau VIP market in 2018. We believe other junket companies will also actively adjust their development strategy, depending on the development of the market, to maintain a healthy growth in coming years.”
In a January 10 note, brokerage Deutsche Bank Securities Inc. said MGM Cotai would open with direct VIP only, or high rollers managed by the house, with junkets involved starting “in the late first quarter 2018/early second quarter 2018 timeframe.”
Last month Meg-Star opened a new VIP room, the Meg-Star Lian Sheng VIP Club, at Wynn Macau. At that time, the junket promoter said it was operating five VIP gaming clubs in Macau and was planning to expand both locally and abroad.
