MGM China has announced the launch of new south tower accommodation at its Cotai venue.<\/p>\n\n\n\n\n\n\n\n
Macau.-\u00a0MGM China\u00a0<\/strong>has launched its new Emerald Tower suites at its Cotai venue\u00a0<\/strong>with a capital cost of HKD677m (US$87.1m). Emerald Tower comprises 28 suites<\/strong>, ranging in size from 128 square metres (1,378 sq. feet) to 371 sq. metres.<\/p>\n\n\n\n In a press release, the company said: “The development of MGM Cotai Emerald Tower suites is the latest project to\u00a0strengthen our position in the premium mass segment<\/strong>.”<\/p>\n\n\n\n Bill Hornbuckle, MGM CEO, said he expected the new facilities would be\u00a0well-received by premium mass clients.<\/strong><\/p>\n\n\n\n In August, MGM China<\/strong> published its financial results for the second quarter of the year, reporting a rise in net revenue to US$311m<\/strong>, up 836 per cent when compared to the prior-year quarter but down 56 per cent compared to the second quarter of 2019.<\/p>\n\n\n\n VIP Table Games turnover was up 9 per cent <\/strong>while table games win grew from US$12m to US$71m when compared to the prior-year quarter. Main floor table games revenue was up 20 per cent <\/strong>to US$1.3bn.<\/p>\n\n\n\n In the first quarter, MGM China<\/a> reported revenue of HKD2.30bn (US$296.4m)<\/strong>, supported by growth in the mass-market segment.<\/p>\n\n\n\n Bill Hornbuckle, MGM CEO, said Macau\u2019s GGR<\/a> dropped during the second quarter due to a rise in Covid-19 cases in Guangdong although he noted revenue started to improve again in July<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" MGM China has announced the launch of new south tower accommodation at its Cotai venue.<\/p>\n","protected":false},"author":176,"featured_media":17390,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"MGM China has launched its new Emerald Tower suites at its Cotai property, representing a HKD677m (US$87.1m) investment aimed at strengthening its premium mass segment positioning. This development follows MGM China's Q2 revenue of US$311m, an 836% year-over-year increase, despite Macau's overall GGR decline in the quarter due to regional COVID-19 impacts.","focusai_entities":"MGM China, Bill Hornbuckle, MGM","focusai_location":"Macau, Cotai, Guangdong","focusai_target_profile":"ceo_executive (0.95), regulator (0.7), operator_casino (0.9), marketing_crm (0.7), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Premium Mass ROI","query":"What is the projected return on investment (ROI) for MGM China's HKD677m Emerald Tower suites, specifically in terms of incremental GGR contribution from the premium mass segment?"},{"label":"Macau Market Recovery","query":"How does MGM China's Q2 revenue performance and Q3 outlook align with broader Macau GGR recovery projections, particularly considering the impact of regional COVID-19 outbreaks?"}],"footnotes":""},"categories":[28,16338,158],"tags":[23907,23906],"class_list":["post-22440","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-east-asia-news","category-slider-home","tag-land-based-casino","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22440","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=22440"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22440\/revisions"}],"predecessor-version":[{"id":22451,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22440\/revisions\/22451"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17390"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=22440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=22440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=22440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}MGM China posts US$311m in revenue for Q2<\/h2>\n\n\n\n