International edition
June 24, 2021

Its CEO said the company is ready to invest in the island

MGM China ready to move on Hengqin opportunities

(Macau).- MGM China Holdings chief executive Grant Bowie says the casino operator will be involved in developing Hengqin Island, Business Daily reports.“There is a lot more interest in Hengqin and MGM will be an active participant there,” Bowie said late last week.

G

rant Bowie, CEO and executive director of MGM China, had previously said MGM China was considering investment opportunities on Hengqin. Given the chance, the company would help small and medium enterprises gain a foothold on the island, he said.

On the issue of whether to cooperate with Shun Tak Group, which has invested at Hengqin, he said it was reasonable for both sides to cooperate due to the limited lands in Macao. But he also stressed that the company would consider entering with its own brand. The plan is still under consideration and no information about the investment scale and amount has been disclosed.

Macao SAR Government states that it will decide the number of additionally approved gaming tables based on the proportion of non-gaming businesses. In the Cotai Project which will be completed by MGM in 2016, 85% of the project area is for non-gaming businesses. Grant Bowie said that over 50% of them were expected to be related with arts and the whole project would be carefully invested with a temporary investment amount of 20 billion MOPs, which equal three times of those invested in the flagship hotel in Macao Peninsula, in the hope of competing with its rivals. In order to increase non-gaming elements, the group invested 10 million MOPs to set up an additional brand new art exhibition site.
 
He added that the group would focus on developing midfield business in the future because the profit from the midfield is three to four times of that from VIP rooms. Besides, the group is still waiting for Macao SAR Government to approve its application for adding 60 to 70 slot machines.

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