Grant Bowie
As the region’s gaming operators shift their focus toward mass-market recreational gamblers, and away from their previous VIP targets, MGM is confident that its property can shoulder the continuous decline of gross gaming revenue (GGR).
Speaking on the sidelines of the operator’s forum yesterday, Grant Bowie, MGM China CEO, told the press that the currently under-construction MGM Cotai resort is looking into offering various products and services for the mass-market.
As MGM Cotai, slated to open next year, will not be offering VIP tables, Bowie said MGM Macau would continue to develop its VIP offerings, while the new Cotai property would instead focus on entertainment and other tourism services.
“What we’re most focused on is making sure we don’t continue to dilute the business […] at this early stage, we’re looking to keep our VIP business at our Macau property and continue to develop and diversify through the Cotai property,” he said.
Although Bowie admitted that the government has not yet disclosed the number of gaming tables to be awarded, he said MGM would continue to prove its “level of diversification” in order to meet the necessary criteria to attain the maximum number of tables.
The CEO reiterated that MGM is confident in focusing on the mass-market segment as it has been their strategy since 2008, when MGM Macau first opened.
Despite the continuous decline in the number of Chinese tourists arriving in the region, Bowie said that the resort will maintain its share of customers, as the gaming enterprise acknowledges the changing nature of Chinese and regional consumers.
“I’m totally confident that Chinese consumers will still want to come to Macau and buy the products and services that we have, but we need to continue to evolve and develop those products and services to meet their expectations,” he explained.
MGM held a “National Conditions Forum” yesterday for over 200 team members of middle-
management tier and above in a bid to inform them of the business potential resulting from the economic development of China.
Commenting on the event, Bowie argued that since Macau is “inextricably linked” to the growth and prosperity of the mainland, “it is vital for the team members to understand opportunities for Macau from China.”
“Macau’s single most sustainable advantage is being a part of China because the reality is China is the engine of growth of global development,” he said during the opening of the event.
“The rapidly growing middle-class consumption and consumer behavior of China is not only fueling Macau but also fueling global [economic] growth,” he added.
Bowie concluded that the diversification of Macau revolves around the ability to create “unique opportunities for consumers to [be involved in] a diversity of experiences in Macau.”
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