MGM China Holdings Ltd’s MGM Cotai casino resort will feature a permanent art collection with more than 300 pieces, the company said in a press release.
The collection will include 28 Qing dynasty imperial carpets and a commissioned collage by Chinese artist Xue Song.
Several pieces were specifically commissioned for MGM Cotai, the Thursday release stated. The document did not mention a budget for artwork acquisition. The pieces will be on display around the property, as part of the décor, and not in a gallery
The collection will also feature artworks from Macau artists.
The neighbouring Wynn Palace casino resort – by rival operator Wynn Macau Ltd and opened in August 2016 – also features an extensive art collection, with pieces displayed in the public areas of the proprety. Those include a set of four rare porcelain Qing-dynasty pieces known as the Buccleuch vases and a US$33.7-million steel sculpture by Jeff Koons.
MGM China stated in January that the opening of its MGM Cotai casino resort – located in Macau’s Cotai district – would be moved to the second half of 2017. The firm had previously mentioned a second-quarter launch.
In its 2016 results announced last month, MGM China said the expected total development cost of MGM Cotai was approximately HKD26 billion (US$3.35 billion), excluding land costs and capitalised interest. The company had previously mentioned a budget of HKD24 billion.
In his policy address for 2017, presented in November, the Chief Executive of the city’s government, Fernando Chui Sai On, again urged Macau’s casino operators to continue increasing their non-gaming offerings. He said the government would promote “increased cooperation” between the city’s casino operators and local food and drink outlets as well as cultural and creative industries.
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”We expect Goa to quickly become a US$1 billion market as it transitions to land-based casinos (from US$150 million today), which is still just a fraction of India’s total GGR potential of US$10 billion to US$17 billion”
Analyst at Union Gaming Securities Asia