A series of rejuvenation projects underway at MGM Macau are aimed at ensuring that MGM China’s original Macau resort dominates the peninsula gaming market, according to President and Executive Director Kenneth Feng.
Speaking during parent company MGM Resorts’ 3Q24 earnings call on Thursday, Feng outlined what he described as some “very meaningful projects” MGM China had started on during the September quarter, including a refreshment of the property’s gaming floor, a revamped events center and some new F&B outlets.
“The goal of these developments is really to make sure the products reflect the trend of the customers,” he said. “All of these projects we expect to be done by the middle of next year and once done we will continue to lead the peninsula Macau market.”
Also in the works is a “suite conversion project” at MGM Cotai through which the company is converting 160 standard rooms into 60 suites, increasing the property’s suite offering by around 25%.
According to Feng, “MGM Cotai is always trying to become a destination of this region. When we deliver more new products into the market, MGM Cotai will benefit.”
MGM China on Thursday reported record revenues and EBITDAR for any third quarter in the company’s history, continuing a golden run since Macau’s borders reopened to the world in January 2023.
The CEO and President of MGM Resorts, Bill Hornbuckle, explained during the earnings call that MGM China had also booked a 20% increase in gaming buy-ins during the recent Golden Week holiday, which ran from 1 to 7 October, when compared to the same period in 2019.
