Tag Archives: mgm cotai
- MGM punts on affluent masses in Macau
August 14, 2017
MGM Resorts International wants to lure more affluent Chinese masses in the coming years as it plays catch-up in Macau’s economic resurgence. Bloomberg reported that the casino operator is set to open its $3.3 billion MGM Cotai integrated resort on the Cotai Strip in the fourth quarter, which, according to...
- MGM Resorts revenue rises, just not on a ‘same store’ basis
July 28, 2017
Casino operator MGM Resorts posted higher revenue in Q2 but analysts are fretting that the gains were largely due to new venues, not ‘same store’ growth. MGM says revenue rose 16.3% year-on-year to $2.64b in the three months ending June 30, but operating income fell more than one-third to $501m...
- MGM Cotai gets new name and 38-ton, gold-plated lion mascot
March 8, 2017
MGM Resorts’ latest Macau casino has a new name and a shiny new mascot to announce its imminent arrival. On Tuesday, MGM China unveiled an 11-meter, 38-ton statue of a lion that will command the north entrance to MGM Cotai, the company’s in-development Macau integrated resort. The company hopes the...
- Investors dump MGM Resorts after underwhelming Q4 report
February 17, 2017
Casino operator MGM Resorts’ stock took a pounding on Thursday after the company posted lower than expected earnings due to softness at its Las Vegas properties. MGM released its Q4 and FY16 numbers on Thursday, and the company’s domestic resorts showed revenue up 17% to $1.8b in the three months...
- MGM China delays Cotai casino opening (again)
January 18, 2017
Casino operator MGM Resorts has once again delayed the opening of its new Macau integrated resort, in part due to the project’s design. On Tuesday, MGM’s Asian offshoot MGM China announced that the planned second quarter opening of its new $3.1b MGM Cotai casino in Macau had been adjusted to...
- MGM Cotai to open with no VIP tables
August 10, 2016
Casino operator MGM Resorts says its new Macau property won’t have any VIP gaming tables, at least, not to start. On Tuesday, MGM China CEO Grant Bowie discussed the company’s in-development MGM Cotai property, telling reporters that the company had “already made the decision that we’re envisaging opening only with...
Parisian Macao battling Legionnaires’ Disease outbreak
April 25, 2017