“There are more opportunities in Macau beyond Cotai”

“We think that the prospects for us to be in Cotai are bright. We know that we are moving down the path and we hope that we will be fortunate enough to be there,” James Murren, chairman and CEO of MGM Resorts International told Macau Business in an exclusive interview published in this month’s issue.

Murren stressed that, “however, it is very important that we do not think of this as the only opportunity to grow in Macau. There are more opportunities on the peninsula and throughout the SAR in general. We are keeping our eyes open.”

He didn’t mention any target date for the listing of 20 to 25 percent of MGM’s Macau joint venture, but he said that “part of the proceeds, when we do it, will be allocated to developing more in Macau, hopefully in Cotai.”

Talking about the recent inclusion of new junket operators at MGM Macau, Murren noted: “the market is becoming more competitive, the [VIP] operators are becoming more discerning and they are more selective in terms of where they would like to set up the ‘shop’. In the stunningly beautiful MGM Macau tower, there were opportunities to bring in junket operators and we did that. We are proud of being able to do that and we are going to do that more.”