• MGM Cotai, Macau •
MGM Cotai opened in February 2018 in Macau, but it was not a finished product at that time. Over the last 18 months, a $100 million theater, additional restaurants, VIP gaming areas and other non-gaming amenities were added to the mix.
Lap of Luxury But it wasn’t until the Mansion fully opened in early 2019 that the facility began hitting on all cylinders. Like its cousin in Las Vegas, the Mansion caters to the highest of the high rollers. As in Las Vegas, you won’t find it on a map of the property.
The Mansion in MGM Cotai is tucked away to avoid prying eyes and assure privacy for its special guests.
It features 27 ultra-luxury villas ranging in size from 215 square meters to 570 square meters each. They all come with dining lounges, balconies and separate entrances, and elevators for direct access to the rooms.
MGM Resorts Chairman and CEO James Murren explained that, with the Mansion open, the company is becoming a major player in the premium-mass market in Macau.
“We needed to get everything up and running,” Murren told investors in conference call.
“The Mansion is now online and all the villas are now available, so we’re getting really positive responses for that.
The progress of adding value to that segment is actually going well.
“In excess of 20 percent of the (premium-mass) business for the quarter is directly attributed to the Mansion as new business, so that’s really the critical point for us.” The property’s CEO, Grant Bowie, says the Mansion has special significance for the property.
“We are excited to see the ramping up of MGM Cotai,” he said. “The Mansion offers exclusive luxury to the next level and helps us be better-positioned in the premium segment.”
Murren said the company will continue to grow its premium mass segment while also boosting its Macau market share.
Lap of Luxury According to analysts, MGM China took its share to 10.2 percent in the third quarter of 2019, up from 9 percent in the previous quarter and just 7 percent a year ago.
“Once you start getting towards the main summit, it starts to build, and we’re starting to see continued strength in that premium-mass business coming into the fourth quarter,” Murren said.
“There’s still some business transitioning out of VIP to mass, but really what we’re focused on is making sure that the product is right.”
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