MGM China Holdings Ltd., a leading developer of Macau that owns and operates game resorts and accommodations in the Greater China region, said it was ready to set up additional game tables in MGM Macau and MGM Cotai during the third quarter and expand its sales and marketing teams to attract additional foreign customers.
In addition, the fact came on Wednesday, Aug. 2, during an investor conference call after parent company MGM Resorts International reported second-quarter earnings. In a related development, MGM Resorts CEO Bill Hornbuckle said on Wednesday’s call, “The group completed some renovations at both of its buildings in Macau just a few weeks ago. The company plans to complete optimization of the placement of additional game tables in the third quarter.”
Recent increase in the number of game tables:
MGM China gained 36 percent growth in the total number of game tables allocated to the company, a.k.a. the additional 200 tables. It also received an official license to manage a total of 1,700 game machines and 750 game tables.
In this regard, Hornbuckle commented, “We have about 150 ready at the moment and we have 50 left. And I think that will help our shared story in the second half of the year. In Macau, we are focusing on four main priorities: incremental 200 table activation, changing casino floors to maximize returns, caring for large premium customers, and taking overseas customers to our properties through our global branch network.”
Sales and marketing team to be expanded:
Hubert Wang, MGM China’s president and chief operating officer, said in a phone call, “MGM China sought to expand its sales and marketing team. I think this will be critical to our customer acquisition. We will leverage the networks MGM Resorts has internationally to promote overseas markets.”
However, he added: “I think we’ve already made a lot of progress, and we’re going to open more offices and double the number of employees, sales and marketing people in this area. Improvements to capital projects and real estate remain critical to improving the customer experience, especially on the premium mass side.
“At MGM Macau, we will be doing renovations in the coming months and quarters. There are also a lot of non-game programs and products that we will repair or build under re-lease agreements.”
Growth – Ultimate Goals:
“MGM China’s July performance was very strong,” Wang said. In this regard, he said: “We’re seeing higher numbers than in the second quarter. So, I’m very optimistic about this year’s balance in terms of recovery and financial results. We’re already beyond recovery; we’re talking about growth.”
In response to the recently unveiled measure by the State Council of China to expand domestic consumption, he noted: “Stimulus could be another squeeze on the public sector, particularly in the mid-to-late public sectors.” However, he stressed: “The recovery in the Macau gaming market has so far been driven by the premium public sector. But I think the long-term recovery will be a broad spectrum… Demand will come from all sectors of the popular market.”
BY: 파친코