MGM China Holdings postponed the opening of MGM Cotai for the fifth time yesterday, implying that the “administrative approval process” by the Macau government is taking longer than expected.
“The company is going through the administrative approval process of obtaining relevant licenses to operate MGM Cotai,” MGM China said in a filing to the Hong Kong stock exchange. “As a result, it is now expected that the public opening date of MGM Cotai will be within the month of February 2018.”
In a written note to the Times, an MGM representative said that “while still undergoing government approval process, we are now focusing on our Grand Opening within the month of February.”
“We are working closely with the Macau government to bring to our community and to the public a long-awaited world-class resort that takes diversified consumer experiences to a new height and that thousands of our employees feel deeply proud of.”
The Chinese Lunar New Year holiday, considered one of the most profitable gaming weeks in the Macau calendar, begins on February 16. It remains unknown whether the operator will be able to open in time.
On Wednesday, Macau’s Gaming Inspection and Coordination Bureau awarded the casino operator a total of 125 new-to-
market tables, with 100 of them available for immediate deployment.
The previous delay to the property was announced in October last year, justified on the back of damage sustained during the passing of Typhoon Hato in August. At that time, MGM China assured that the property would open its doors on January 29. Several months later, the casino operator announced that a formal inauguration ceremony would take place several weeks after the scheduled opening.
Gaming analysts have suggested on several occasions that the delayed openings of some Macau- based properties might serve to benefit operators as they wait for signs of a stronger MSAR economy, while enabling them to minimize overheads.
Macau gross gaming revenue reached MOP22.7 billion in December 2017, up 19.1 percent over a year earlier. DB
The 13 will open with or without casino, say owners
The opening date of The 13 hotel has been delayed once more, according to a statement that The 13 Holdings filed to the Hong Kong Stock Exchange this week. In the filing, the company said that the resort will open by April 30 this year, postponed from March 31 as previously announced. It also said that company owners are prepared to open with or without a casino, acknowledging that The 13 Holdings will require permission from the Macau Gaming Inspection and Coordination Bureau before establishing casino facilities. The delay follows financial problems at the company that have reportedly inhibited the resort’s development for the past few years.
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