{"id":69888,"date":"2018-02-13T12:00:53","date_gmt":"2018-02-13T20:00:53","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=69888"},"modified":"2018-02-13T10:22:57","modified_gmt":"2018-02-13T18:22:57","slug":"mgm-cotai-opens-for-chinese-new-year","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/mgm-cotai-opens-for-chinese-new-year\/","title":{"rendered":"MGM Cotai Opens at Last with 500 Hotel Rooms for Chinese New Year"},"content":{"rendered":"

Finally, MGM Cotai opened its doors on Tuesday \u2013 and the brand new $3.4 billion property is already fully booked for Chinese New Year, according to MGM China.<\/p>\n

\"MGM
Open for Business: MGM Cotai is MGM Resorts first foray onto the family-friendly Cotai Peninsula at a time when business is booming, but Macau remains vulnerable to policy decisions in Beijing. (Image: MGM Cotai)<\/figcaption><\/figure>\n

Or at least, the 500 hotel rooms that are currently operational will be filled when the festivities get underway this week. It has another 900 currently unavailable.<\/p>\n

The project has been beset by delays since it missed its initial 2016 opening target and it\u2019s been something of a scramble for MGM to get ready in time for the lucrative New Year period.<\/p>\n

The Macau Government Tourism Office (MGTO) said in late January that the property had not yet been awarded the requisite hotel and amenities licensing and \u201ccould not guarantee\u201d it would be ready in time.<\/p>\n

But today represents MGM\u2019s first foray onto the Cotai Strip at a time when business in Macau is booming<\/a> once again. And meanwhile, analysts are predicting that the Chinese New Year \u2013 11 days when Macau\u2019s hotels are packed with guests paying premium rates \u2013 will be fruitful.<\/p>\n

MGM Cotai Opens with No VIP Tables <\/strong><\/h2>\n

The integrated resorts of the Cotai peninsula are leading Macau\u2019s shift from VIP to mass market gaming with a more family friendly offering, and the MGM Cotai is on trend. In fact, only ten percent of the property is devoted to gaming, according to MGM China.<\/p>\n

Non-gaming amenities include a 2,000-seat theater, a $12-million art collection, new restaurants, shops, meeting space and a luxury spa.<\/p>\n

Due to restrictions imposed by Macau authorities, the casino opens with 177 mass market gaming tables and no VIP tables, but MGM said it is unconcerned, believing stable growth lies in mass market and premium mass segments.<\/p>\n

It\u2019s a perfect time to open right at the eve of the year of the dog,\u201d MGM Chief Executive Officer James Murren told Bloomberg last week. \u201cI believe we have created a resort that exactly targets the market that\u2019s the fastest growing today \u2013 the upper-end mass market.\u201d<\/strong><\/p><\/blockquote>\n

Ill Winds Blow Across the Pearl River Delta <\/strong><\/h2>\n

But MGM Cotai opens amid reports that the Chinese government is considering transforming the holiday island of Hainan<\/a> into a casino hub, reminding Macau how closely its prosperity is tied to the policy whims of Beijing. Meanwhile, competition from new, emerging markets in the region have led some analysts to suggest life won\u2019t be plain sailing for the MGM Cotai.<\/p>\n

\u201cIt will be difficult for MGM to beat other competitors\u2019 new resorts ramp-up,\u201d said Margaret Huang, an analyst at Bloomberg Intelligence.<\/p>\n

\u201cMacau will always face regulatory risk from any changes from China. Operators will also face greater pressure from more new resorts and additional Asian gambling destinations.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Finally, MGM Cotai opened its doors on Tuesday \u2013 and the brand new $3.4 billion property is already fully booked for Chinese New Year, according to MGM China. Or at least, the 500 hotel rooms that are currently operational will be filled when the festivities get underway this week. It has another 900 currently unavailable. […]<\/p>\n","protected":false},"author":42,"featured_media":69892,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,18],"tags":[],"acf":[],"yoast_head":"\nMGM Cotai Opens at Last with 500 Hotel Rooms for Chinese New Year<\/title>\n<meta name=\"description\" content=\"MGM China\u2019s has scrambled to get MGM Cotai ready in time for Chinese New Year in Macau. As MGM Cotai opens, the company says its 500 functional hotel rooms are fully booked.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MGM Cotai Opens at Last with 500 Hotel Rooms for Chinese New Year\" \/>\n<meta property=\"og:description\" content=\"MGM China\u2019s has scrambled to get MGM Cotai ready in time for Chinese New Year in Macau. 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