MGM donated 500,000 facemasks to the Macau government to support its anti-novel coronavirus (COVID-19) measures.
MGM
US gaming company MGM Resorts International said this week that it is currently losing US$1.5 million (12 million patacas) a day in Macau.
If they do leave due to the China-US trade war worsening further, local or mainland Chinese-funded companies could take over the respective hotel-casino resorts to run the gaming businesses.
As the 2022 concession expiry date looms closer, analysts start to weigh in on the possible scenarios.
The Macau government has extended the gaming concession and sub-concession of SJM and MGM respectively by two years and three months until June 26, 2022, bringing them on par with the city’s two other gaming concessions and two sub-concessions.
MGM China recorded total revenue of HK$4.7billion in the first quarter, a year-on-year growth of 26 percent, the US gaming company said in a statement Thursday.
The casino at MGM Cotai has 177 gaming tables and 982 slot machines catering to the premium mass and mass market. The casino’s VIP lounges will open around the middle of the year.
MGM China said in a statement on Wednesday that its total revenue rose 5 percent to HK$3.68 billion in the third quarter from the previous quarter.
MGM China Holdings said in a statement that due to damage caused by Super Typhoon Hato the opening of its resort in Cotai would be “slightly delayed” to January 29.