The chief executive of Macau casino operator MGM China Holdings Ltd said on Monday that the reason an opening ceremony for its new property MGM Cotai would occur a fortnight after the venue’s planned launch to the public was in order to fine tune some “high-level technology” being used on site.
Grant Bowie (pictured in a file photo) did not clarify what facilities would launch at the initial opening on January 29 and what facilities – if any – would launch at a “grand opening ceremony” on February 13.
“We’re introducing some very unique and high-level technology in the property,” Mr Bowie told local media, adding the company wanted to ensure it all worked effectively. He was speaking on the sidelines of an event on Monday.
Mr Bowie added that – regarding new-to-market live dealer table allocation for MGM Cotai under the Macau government’s table cap – the firm had submitted information to the local regulator, the Gaming Inspection and Coordination Bureau, and was awaiting a response.
The company has previously said the venue has capacity for 500 live-dealer tables.
“On gaming tables, we are still waiting for the government to give us our final award. We think we have provided all the information needed, and now we are waiting for the government to respond,” said Mr Bowie in comments carried on local broadcaster TDM.
Analysts of brokerage Deutsche Bank Securities Inc estimated in a January 10 note that MGM China will receive 150 tables for its new Cotai property. They also said that MGM Cotai “will open with direct VIP only, with junkets expected to begin to come online in the late first-quarter 2018/early second-quarter 2018 timeframe”.
Macau-based junket operator Meg-Star International confirmed to GGRAsia on Monday that it would open a new VIP gaming club in MGM Cotai. A number of other junkets have also indicated they will have facilities at MGM Cotai.
Jul 16, 2018New research from JP Morgan Securities (Asia Pacific) Ltd advises investors in Macau gaming stocks to stay calm in the face of a disappointing second quarter and to take long positions. In its...
Jul 16, 2018
Jul 16, 2018
Jul 13, 2018
"The President [Rodrigo Duterte] had already decided and announced that no construction of a casino on Boracay will be allowed”
Secretary Eduardo Año
Officer-in-charge at the Philippine Department of Local and Interior Government