• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Tuesday 26 August 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

MGM China to upgrade premium offerings at Macau resorts on growing confidence in China consumer patterns

Ben Blaschke by Ben Blaschke
Thu 9 Nov 2023 at 07:39
MGM China says no plans to restructure

MGM Macau

28
SHARES
695
VIEWS
Print Friendly, PDF & Email

MGM China revealed Thursday that it is preparing to launch major upgrade works to the premium gaming and accommodation spaces of both Macau resorts, MGM Macau and MGM Cotai, following a record-breaking quarter in the three months to 30 September 2023.

The company has also expressed confidence in continued strength in the quarters ahead, despite market concerns over the slowing growth of the mainland China economy.

In releasing its 3Q23 results this morning, MGM China said it had notched all-time third quarter records in both Adjusted Property EBITDAR and mass GGR, while October had also set an all-time monthly record in Adjusted Property EBITDAR.

Speaking on the company’s Q3 earnings call, MGM Resorts CEO and President Bill Hornbuckle outlined plans to make “opportunistic changes to our casino floor and existing room products to maximize yield, taking care of our mass and premium mass customers and driving international tourism.”

This, he explained, will include a re-modeling of the platinum gaming area at MGM Cotai, starting early next year, and a villa upgrade at MGM Macau which will also see the addition of six new villas.

It is, Hornbuckle said, “clearly evident that business is booming” in Macau.

Asked if there were any concerns about the macro-economic situation in China, MGM China’s President and Chief Operating Officer Hubert Wang pointed to a recent forecast by the Macau government which estimates Macau-wide GGR to grow to around US$27 billion in 2024.

“This is quite consistent with our belief and with market consensus as well,” Wang explained.

“I think yes, in China there is some softness in the overall macro-economic situation and GDP growth is around 4% to 5%, but I believe that Macau is not [directly linked] to the average of GDP growth of the standing pattern in China.

“We in Macau cater to about 30 million visitors a year and unique visitation is about half of that, so it’s still a very small number in the grand scheme of population in China.

“We cater to the middle class and the upper middle class and the consumption in China between high-income groups and the base mass is very different. You see continued growth in luxury goods purchase in the high-income group, while the mass you have seen a decline, so I think Macau is well positioned to cater to the group with high spending. This is what the concessionaires and the government is trying to do – to capture that group into the market.”

RelatedPosts

MGS returns to Macau today with first live in-person show in four years

Galaxy looking to maintain events focus as Galaxy Arena extends partnership with TMElive by three years

Tue 26 Aug 2025 at 04:59
Slots 2.0

JP Morgan says Macau GGR now at highest non-Golden Week levels since pandemic

Mon 25 Aug 2025 at 17:04
Macau GGR down 12.7% month-on-month to MOP$17.3 billion in September, lowest of the year

Macau government collects US$1 billion in gaming tax revenue in July

Mon 25 Aug 2025 at 13:34
Macau visitor arrivals grew 14.5% year-on-year to 3,458,366 in July

Macau visitor arrivals grew 14.5% year-on-year to 3,458,366 in July

Sun 24 Aug 2025 at 08:30
Load More
Tags: Bill HornbuckleHubert WangMacauMGM ChinaMGM CotaiMGM MacauPremium Massrevenue
Share11Share2
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Better late than never

Editorial – Better late than never

by Ben Blaschke
Thu 31 Jul 2025 at 07:13

Inside Asian Gaming has in recent weeks been hearing increasing chatter around a possible move by Vietnamese authorities to introduce...

Angel’s Yasushi Shigeta

Angel’s Yasushi Shigeta

by Ben Blaschke
Thu 31 Jul 2025 at 07:08

Yasushi Shigeta, Chairman and owner of one of the world’s largest gaming industry suppliers, Angel Group, sits down with Inside...

The Magic Number

The Magic Number

by David Bonnet
Thu 31 Jul 2025 at 06:41

In this in-depth deep dive into the evolution of the Asian gaming landscape, David Bonnet argues that many regional jurisdictions...

Rashid Suliman – A road well traveled

Rashid Suliman – A road well traveled

by Ben Blaschke
Thu 31 Jul 2025 at 02:45

Rashid Suliman, Vice President of Global Gaming Asia-Pacific for casino solutions provider TransAct Technologies, provides some insight into his unique...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

Sons of NagaCorp founder Chen Lip Keong join Forbes list of Malaysia’s richest

Surging mass market sees NagaCorp gaming revenues, profit enjoy double-digit growth in 1H25

by Ben Blaschke
Tue 26 Aug 2025 at 05:30

Hong Kong-listed NagaCorp has credited the impressive growth of the mass market segment at its Cambodian integrated resort NagaWorld for substantial improvement in both its gross gaming revenues (GGR) and profitability in the first six months of 2025. NagaWorld booked...

MGS returns to Macau today with first live in-person show in four years

Galaxy looking to maintain events focus as Galaxy Arena extends partnership with TMElive by three years

by Newsdesk
Tue 26 Aug 2025 at 04:59

Galaxy Entertainment Group’s Galaxy Arena has renewed by a further three years its strategic partnership with live events company TMElive, aiming to further build on the high-profile array of entertainment offerings that have contributed to Macau’s post-pandemic recovery. In its...

Flutter stops India real-money gaming operations, bemoans lack of industry consultation

Flutter stops India real-money gaming operations, bemoans lack of industry consultation

by Ben Blaschke
Tue 26 Aug 2025 at 04:00

British gaming giant Flutter Entertainment says it expects to forfeit around US$100 million in revenue and US$25 million in Adjusted EBITDA after stopping its real-money gaming operations in India following the sudden passage of the Promotion and Regulation of Online...

Slots 2.0

JP Morgan says Macau GGR now at highest non-Golden Week levels since pandemic

by Ben Blaschke
Mon 25 Aug 2025 at 17:04

Investment bank JP Morgan has estimated Macau’s gross gaming revenues in the seven days from 18 to 24 August at MOP$793 million (US$98.5 million) per day, representing a 9% increase over the prior week and making it the city’s highest...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English