MGM China has announced that its $3.1bn MGM Cotai, an integrated casino, hotel and entertainment resort located in Cotai, Macau, is now expected to open during the second half of 2017.
The company stated: “Given the complexity of the design of MGM Cotai and the Company’s commitment to a successful opening that reflects the demands of the current market, the expected opening time of MGM Cotai will be adjusted from the second quarter of 2017 to the second half of 2017. However, ultimately, the final opening date of MGM Cotai will also be subject to obtaining the required government approvals.”
It is the third time MGM has delayed the opening initially scheduled for the last quarter of 2016. Designed as the jewellery box of Cotai, it plans to offer approximately 1,500 hotel rooms and suites, meeting space, high end spa, retail offerings and food and beverage outlets as well as the first international Mansion at MGM for the ultimate luxury experience. Its casino will have space for 500 tables although it is not known at this stage how many it will be allowed to operate. Back in August last year, MGM China’s Chief Executive, Grant Bowie said MGM Cotai would open with only mass tables.
Brokerage firm Sanford Bernstein said: “The delay in opening the MGM Cotai property is likely a strategic positive, in that a later opening should meet a stronger market and more competitive landscape.”