Brokerage firm Deutsche Bank says MGM China controls just 7.5 percent of the gaming market in Macau. Bowie plans to change that by going after those high rollers who have fled to more welcoming gaming locales such as the Philippines. MGM’s market share of VIP business was 6.7 percent last year.<\/p>\n
\nIt’s very private and it’s obviously a place we’re very excited about. It’s a beautiful property and we’re looking forward to being a significant contributor to the performance of our property,” Bowie explained.<\/p>\n<\/blockquote>\n
MGM China will additionally wants to add new private high-roller gaming lounges in the year ahead at both of its Macau resorts.<\/p>\n
Macau Economy<\/b><\/h2>\n
The Special Administrative Region is diversifying its amenities to make Macau a more appealing destination for conventions and business events. China has directed enclave officials to support programs that encourage casino operators to invest in non-gaming projects.<\/p>\n
The neighboring island of Hengqin is being targeted for such MICE (meetings, incentives, conventions, and exhibitions) space, as well as additional hotel rooms and entertainment attractions.<\/p>\n
\n
The influx of capital investments is one reason the International Monetary Fund (IMF) predicted this week that Macau’s economy will grow by 4.3 percent this year. That is lower, however, than the 6.3 projected growth for China as a whole.<\/p>\n<\/div>\n
The IMF is predicting just 1.8 percent growth for advanced economies as a whole, which includes the US, Europe (Germany, France, Italy, Spain), Japan, UK, and Canada.<\/p>\n","protected":false},"excerpt":{"rendered":"
MGM China CEO Grant Bowie told reporters this week that he remains bullish on Macau’s economy and gaming industry despite the ongoing trade war between the United States and China. Speaking with reporters at the Nam Van Lake Nautical Center where regional executives and employees will compete in dragon boat races next month, Bowie said […]<\/p>\n","protected":false},"author":25,"featured_media":105062,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,61],"tags":[],"acf":[],"yoast_head":"\n
MGM China CEO Confident in Macau Despite US-China Trade War<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n