MGM Resorts International has debuted its latest billion dollar resort in the world’s biggest casino hub Macau.
It is a timely opening for the US$3.4 billion MGM Cotai, ahead of the Chinese New Year holiday after fears the launch would be delayed until after the biggest travel rush in Greater China.
MGM’s second property in Macau has nearly 1,400 hotel rooms although only about 500 are operational at the moment.
The company says most have already been booked out for the Lunar New Year period.
It also features a 2,000-seat theatre, 500,000 square feet of gaming space, and extensive artwork in public areas including 28 carpets from the Qing dynasty.
The opening comes at a boom time for the Macau market with hotels revenues overall up more than a third in January, although China is mulling a proposal to allow gambling on the island of Hainan which could hit the long term fortunes of Macau.
Still, Grant Bowie, CEO of MGM China Holdings Ltd is unworried.
Macau is able to ‘overcome any of these challenges that present themselves’ he told Bloomberg TV.