MGM Resorts CEO James Murren assured that Macau’s gaming market has the potential to grow even bigger than it already is.
Macau.- Macau’s gaming market is the largest in the world but MGM Resorts International VEO, James Murren, says it can grow even bigger. The official forecasted the region will benefit from the extensive investment being pumped into the Greater Bay Area initiative, which aims to integrate several cities in south-east China.
“We’ve been in Macau for many years now and we’ve seen a very volatile market in terms of (gaming revenue) growth,” Mr Murren told CNBC as he assessed Macau’s slower growth over the recent months. Furthermore, he minimised the trade tensions between China and the US and its impact on the business as he considered it to be “a small piece of the puzzle”.
According to Bloomberg, the territory will knock Qatar off the top of the list in 2020, based on figures from the International Monetary Fund. The IMF revealed Macau’s gross domestic product (GDP) has more than tripled since 2001 when it amounted to €30k. Furthermore, it expects the economy to reach about €125k per person by 2020, beating Qatar’s €121k.