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MGM Cotai opening delayed for a third time

Updated:2024-06-20 15:23    Views:150

In Macau, the opening date for the giant MGM Cotai has reportedly been pushed back for a third time with operator MGM China Holdings Limited now not expecting to welcome guests to the $3.1 billion hotel and casino project until the second half of 2017.

According to a report from G3Newswire, MGM China Holdings Limited, which is a subsidiary of MGM Resorts International, announced in August of 2015 that the Cotai Strip property would open during the final three months of 2016 before subsequently pushing back this date to the first quarter of 2017. This was followed in the summer by a revelation from the Las Vegas-based firm that the premiere had again been delayed until the second quarter of this year.

“Given the complexity of the design of MGM Cotai and the company’s commitment to a successful opening that reflects the demands of the current market, the expected opening time of MGM Cotai will be adjusted from the second quarter of 2017 to the second half of 2017,” read a statement from MGM China Holdings Limited, which already operates the 35-story and 600-room MGM Macau in the former Portuguese enclave. “However, ultimately, the final opening date of MGM Cotai will also be subject to obtaining the required government approvals.”

Once open, MGM Cotai is expected to offer approximately 1,500 hotel rooms and suites alongside a casino featuring up to 500 live-dealer gaming tables, a meeting space, a luxury spa, shops and restaurants and a theater with 14 seating arrangements.

G3Newswire reported that the development has yet to secure the required permissions for any gaming tables while citing an August statement from Grant Bowie, Chief Executive Officer for MGM China Holdings Limited, as revealing that MGM Cotai would premiere with only mass-market gambling offerings.

“The delay in opening MGM Cotai property is likely a strategic positive in that a later opening should meet a stronger market and more competitive landscape,” read a statement from market research and brokerage firm Sanford Bernstein And Company.



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