Macau-based MGM China Holdings Ltd. has opened the doors of the $3.4 billion MGM Cotai just in time for the busy week-long Lunar New Year holiday.
The opening of the multibillion-dollar casino resort on the family-friendly Cotai strip is MGM China’s biggest gamble to date, especially now that its local gambling concession will expire in about two years. MGM agreed that its newest investment in Macau was a leap of faith.
“We live in a world with many business distractions. Any business needs to have the resilience and capacity,” MGM China CEO Grant Bowie told Bloomberg TV. Bowie is confident that the Macau market can “overcome any of these challenges that present themselves.”
MGM’s newest property features 1,390 rooms and suites, including 1,248 resort rooms or the standard room type, 99 suites, 16 sky lofts and 27 mansion villas. MGM Cotai’s first guests are expected to check into the hotel on Wednesday.