Fifth lion dancing championship attracts international contestants

More than 24 lion dance troupes from around the world will dance their way towards a grand prize and a champion’s title in two separate tournaments at MGM Macau’s annual Lion Dance Championship, which will take place this upcoming August and November.
The fifth edition of the championship was unveiled at a media briefing yesterday afternoon, where the company’s CEO Grant Bowie explained that he wished to extend the popularity of the culturally significant sport beyond Asia by organizing tournaments where different teams could display this Chinese cultural asset in the same arena.
“Deeply rooted in tradition and culture, the Lion Dance has gained popularity across the globe over the years, and MGM Macau has invested  much effort into helping promote this significant piece of Chinese culture into an internationally recognized sport,” Mr Bowie said.
Apart from collaborating with three public departments and three other sports groups, the gaming operator will host with its sister company Diaoyutai MGM Hospitality the champion’s regional leg in Beijing for the first time.  As part of this leg, 10 teams will compete in Sanlitun in the Chaoyang district, while another 14 troupes will battle in Macau.
In order to inculcate the significance of such a traditional sport among youth, the gaming operator also partnered with the Hong Wai Sports and Recreation Association of Macau to launch a training program for children between the age of six to ten years of age this summer.  Participants will be taught the history of lion dancing and offered tutorials together with classes on the instruments and props required for the process. Staff reporter

Credit expansion announced

MGM China announced that it has agreed with its lenders to amend and expand its credit facilities to HKD23.4 billion as well as to extend the maturity by 18 months. According to a press release issued by the gaming operator yesterday, the amended and extended facilities will consist of a HKD12.09 billion equivalent term loan, comprising of existing term loans of HK$4.29 billion and new term loans of HK$7.80 billion.
MGM China CEO and executive director Grant Bowie said: “We are very pleased with the support from our lenders, particularly our local banks in Macau which have allowed us to upsize the credit facility. It indicates their confidence in MGM China, our development in Cotai as well as the future prospects of the Macau market.
“This financing will be used for general corporate purposes and will provide our company with the financial flexibility to continue to invest in MGM Macau, MGM Cotai and the Greater China region.”

grant bowie shrugs off merger rumors

Grant Bowie dismissed speculation of a possible merger between Wynn Resorts and MGM Resort International, asserting that it was nothing more than a rumor. “This report was mere speculation. Frankly we don’t comment on speculation,” said Bowie. Further asked if the rumor would materialise in the future he claimed, “As I said before, this is speculation. I don’t think it does any good to continue on those discussions.”