Grant Bowie confident local companies will resist recession

Following the warning that Macau’s economic recession will continue into the third quarter of 2019, MGM China is confident that local companies are better prepared than they were in 2014 when gaming revenues tumbled.
Speaking to the press on the sidelines of the MGM Graduation Ceremony held yesterday at MGM Cotai, CEO and executive director of MGM China, Grant Bowie, said he does not doubt that the SAR will “get through these challenges.”
“This time we’re actually prepared and all the companies are in a better position to address those issues,” said Bowie. “We just have to be careful. We have to double check and work hard to see that our customers see value in coming to Macau.”
Bowie also remarked that he is confident about the increase in revenue in the coming months given the National Day holiday of China and the SAR’s handover anniversary.
However, he still warned that the SAR may see a decline in its visitor arrivals.
“I think there’s always a possibility [for GGR growth]. We always look for those opportunities. There’s a lot of activities going on at the same time. Some of the official engagements may mean that some of the visitation goes down because it’s such an important time in Macau’s history,” said the executive.
“I think when we get through these challenges, I think Macau again will continue to grow [in 2020],” he said.
Since the enactment of a law in July last year to legalize gaming in Japan, Macau gaming operators have been boosting efforts to charm stakeholders in the country.
MGM China is not one of them. Asked yesterday whether the local company was interested in bidding for a license, Bowie said that as the local arm of MGM Resorts International, MGM China is only looking to expand its presence in Macau. “MGM China has not been investigating opportunities in Japan. […] We are a China company and that is our focus,” he said.
Meanwhile, its parent company, MGM Resorts International, previously announced that its Japan partnership with financial services firm Orix will target an expected integrated resort opportunity Osaka.