MGM is optimistic on getting approval for Macau project
It is believed MGM and SJM are both interested in building a casino-resort on parcels 7 and 8 along the Cotai Strip. But Bowie did not give a precise time when the possible approval might arrive.
Regarding the postponement of Sands’ construction on parcel 3 on Cotai, he believed it was not because the economic environment has turned bad, but due to the economic cycle and other considerations in relation to the company’s overall development plan.
He was speaking on the sidelines of the first board meeting and the inauguration ceremony of the Macau Gaming Management Association which took place in the grand ballroom of MGM Grand. He said the slow-down in growth of gaming revenue is within expectations and the operators have to speed up their diversification of business by developing non-gaming business.
As to reports about Wynn’s latest decision over commissions for its VIP junkets, which might bring about a new round of commission competition among the operators, Bowie said competition brings about progress. He also said MGM would seek opportunities to develop in other regions, especially Taiwan.
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