Sands China President Wilfred Wong has said that the first phase development of the Londoner Macao hotel is still on track to complete by the end of this quarter. The company executive said on Friday that ongoing hotel and casino renovations were progressing faster than planned because of the few tourists this year. However, the actual opening date of the company’s latest destination-themed resort will depend on the state of the city’s tourism trade in the remainder of the year. “In the third quarter, the hotel and its supporting amenities should be ready,” said Wong, on the sidelines of the Sands Shopping Carnival held at the Venetian Macao integrated resort. “Now we’re just waiting for the visitor numbers to show some obvious increase. Only then, can we consider opening.”
Economists expect better gaming revenue in October
The city’s economists are optimistic about gaming revenue for October – when the normally lucrative Golden Week is held – providing that mainland China resumes the issuance of tourist travel permits. Henry Chun Kwok Lei, vice president of the Macau Economic Association, expects gaming revenue in the upcoming month of October to be promising, especially during the national holiday of the People’s Republic of China. Lei believes that mainland visitors are likely to visit Macau once mainland China resumes issuing tourism permits. According to government’s statistics, gross gaming revenue in July was 1.34 billion patacas, an increase of more than 80% compared with the previous month, but still down 94.5% in year-on-year terms.
Grant Bowie resigns as executive director, but will remain advisor
Grant Bowie has formerly stepped down as an executive director of MGM China, but he will remain as a high-level advisor until the end of 2022. The confirmation of Bowie’s resignation was made in a filing to the Hong Kong Stock Exchange by the gaming concessionaire last week. Bowie stepped down from his role as Chief Executive Officer in May after having served the casino operator since August 2008. He said in a statement at the time that the move would align with his “personal retirement plans.” Also this summer, MGM China’s U.S.-based parent company appointed Bill Hornbuckle to replace Jim Murren as company CEO. Last week’s filing with the Hong Kong Stock Exchange said that Ayesha Khanna Molino, senior vice president for government affairs at MGM Resorts International, has been appointed as a non-executive director at MGM China.