A us$ 2.6 billion project
MGM China starts construction in Cotai
2013-03-01
Reading time 37 seg
(Macau).- MGM China Holdings hosted this week an official ground-breaking ceremony for its new casino resort project in Cotai. The property will cost us$ 2.6 billion to build. It will include 1,600 hotel rooms, as many as 500 gaming tables and 2,500 slot machines.
Around 85 % of the gross floor area will be for non-gaming including restaurants, shops and entertainment. It is scheduled to open in mid-2016.
Pansy Ho Chiu King, chairperson of MGM China, said that the new casino resort would provide 5,000 to 6,000 new jobs once completed. Ms Ho also said she foresees that the VIP market will slow to single-digit growth in the next few years, as more mass-market-oriented projects open in Cotai.
Macau Post quoted Ms Ho as saying that she believed the VIP market had grown faster than the mass market in the past, purely because there were insufficient infrastructure and facilities to support mass market development.
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