MGM Cotai to open floodgates on junkets next month
MGM Cotai, ran by MGM China Holdings Ltd, will collaborate with external junket partners and open VIP gambling rooms this September.
According to the CEO of the company, Grant Bowie, they estimate they will work with five junket operators to establish their gaming business from September to the first half of 2019.
“In total, we have facilities for five [junket] operators,” he said.
“We’re looking for two [to be launched] in September and probably another two in October and a fifth will open early next year.
“We’re now finishing off the construction of the [junket] rooms… now what we are working through is all the licensing process with the government.
“We’re very happy that the [junket room] construction is nearly completed, and the licensing process is being finalized.”
Investment analysts predicted earlier this year that companies including Meg-Star International, Suncity Group, David Group, Guangdong Group, and Tak Chun Group might provide the first junkets.
“Due to the overall economic improvement and new [casino resort] projects entering into the market, Meg-Star maintains a positive view on the development of the Macau VIP market in 2018,” they said.
“We believe other [junket promoter] companies will also actively adjust their development strategy, depending on the development of the market, to maintain a healthy growth in coming years.”
MGM Cotai opened its $3.5 billion resort earlier this year. The resort is currently allowed 100 new-to-market live dealer tables according to the city’s cap. Twenty-five more would be added next year, while another 77 have been approved to be brought to MGM Cotai from MGM Macau.