MGM Resorts bets on wealthier masses to catch up in Macau

HONG KONG (Aug 15): MGM Resorts International is counting on a growing number of affluent Chinese customers to drive revenue at its new Macau property, as it strives to catch up with an industry rebound in the enclave.

The Las Vegas-based company’s US$3.3 billion resort on the Cotai strip, its second property in Macau that is scheduled to open in the fourth quarter, aims to cater more to the recreational gambler than the exclusive high-rollers crowd, according to Chief Executive Officer James Murren.

“Our business model is not predicated on the VIP business,” Murren said in an interview on Bloomberg TV with Rishaad Salamat on Monday. “Our strategic plan is built on catering to this tremendously emerging more-affluent Chinese customer, a customer that’s looking for more experimental experiences, not just a selfie moment or a gaming table.” 

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