Tak Chun Group, a major Macau junket investor, has confirmed to GGRAsia that it launched on Thursday a new VIP gaming club at MGM Cotai (pictured), the newest Macau property promoted by MGM China Holdings Ltd.
Tak Chun will have a formal “grand opening” of the club on November 19, a group representative told us. It is Tak Chun’s 17th VIP club in the Macau market.
The firm is the third junket operator announced as having VIP gambling facilities at MGM Cotai, following rivals Guangdong Group and Suncity Group that started operations there in late September. MGM China’s chief executive Grant Bowie mentioned to media in August that the casino operator expected to see a total of five junket operators establish VIP rooms at MGM Cotai between September and early 2019.
Speaking on a conference call with analysts after the Tuesday announcement of MGM Resorts International’s third-quarter results, Mr Bowie noted that the launch of the Mansion villas – high-end accommodation at MGM Cotai – was scheduled for “early 2019”. U.S.-based MGM Resorts International is the parent firm of MGM China.
Mr Bowie said that MGM China aimed to have some of the Mansion villas ready in time for the upcoming Chinese New Year period. The Chinese lunar new year – in 2019 falling on February 5 – is traditionally a peak period for Macau’s casino industry.
MGM China also plans to launch MGM Cotai’s President’s Club – for so-called premium-mass customers involving high-stakes betting but in cash rather than the credit offered to traditional VIPS – in December, Mr Bowie noted on the conference call.
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Deputy chairman of Success Universe Group, an investor in the Ponte 16 casino hotel