MGM expects to get future growth opportunities in Macau, including the development of a second hotel tower at the MGM Cotai.
Macau.- The MGM Cotai opened on February 13th and represents another step in the company’s expansion into Macau through MGM China Holdings Ltd. However, according to CEO Grant Bowie, there could be plenty of opportunities for further growth in the future, including an expansion of the complex.
According to Mr Bowie, the foundation for a “new additional hotel tower of approximately 900 rooms” at the property has already been built. Furthermore, there are plans to build an additional 100 suites and more restaurants, shops and entertainment offerings, he said during an analyst and investor day hosted by MGM Resorts International.
The inauguration of Macau new casino, MGM Cotai, last February has meant a considerable growth for the company’s economy. “Net revenues running to March 31, 2018, were at US$2.82 billion, compared to US$2.72 billion a year earlier. In China, the new opening helped net revenues move up to US$596 million, compared to US$475 million in the first three months of 2017,” the company said in a statement.