MGM Resorts International will launch 124 new “workhorse suites” at MGM Cotai next month as it continues to expand its premium mass offering in Macau. Making the announcement, CEO Bill Hornbuckle said trading has remained strong following Chinese New Year, despite softer luck compared with last year. “Volumes are great and continue to grow,” he said. “I think the expectations we’ve set for the market for the year are on track and then some.”
The expansion forms part of MGM’s broader strategy to increase its exposure to premium mass players, a segment the company said has driven a doubling of its Macau market share compared with pre-Covid levels. “Premium mass has really made a difference,” Hornbuckle said. “We’ve enjoyed a 15 per cent or so share, and I think over time we’ll continue to do that.”
MGM has been repurposing former junket areas into premium mass and VIP spaces, supported by developments such as the Alpha Club and converted villa-style accommodation. The shift in customer mix is reflected at the top end, with six or seven of MGM’s 10 largest Macau customers now classified as premium mass.
Hornbuckle described Macau as highly competitive but said the market is stabilising, with gross gaming revenue expected to grow in a controlled manner from current levels in the low-$30bn range. “I think Macau is on a pretty steady path now for the next year or two,” he said.
Alongside gaming, MGM continues to invest in non-gaming assets to meet regulatory diversification requirements, including new entertainment and cultural offerings. Future spending is expected to focus on efficiency rather than major strategic change.
CFO Jonathan Halkyard highlighted MGM China’s “rock-solid” balance sheet, supported by low leverage and strong free cash flow, as well as increased branding fees contributing around $250m annually to group cash flow. Looking ahead, MGM said its Osaka integrated resort remains a key growth project, with $450m in equity allocated this year and an expected opening in 2030.
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MGM Resorts International will launch 124 new “workhorse suites” at MGM Cotai next month as it continues to expand its premium mass offering in Macau. Making the announcement, CEO Bill Hornbuckle said trading has remained strong following Chinese New Year, despite softer luck compared with last year. “Volumes are great and continue to grow,” he…
The post MGM to launch 124 premium mass suites at MGM Cotai appeared first on G3 Newswire.