MGM Resorts International has again modified its language on the opening date for its casino resort on Macau’s Cotai Strip.
“The construction of MGM Cotai is progressing well and is on time, and on budget, for a fall 2016 opening,” Jim Murren, chairman and chief executive of MGM Resorts, said in a statement accompanying the parent’s third quarter earnings. Previously, the opening had been planned for “early 2016.”
Net revenue for MGM China fell two per cent year-on-year in the third quarter of 2014 to US$794m. MGM China has spent US$81m on the development of MGM Cotai in the three months to September 30.
“We are just refining the plans; we’re very comfortable working with the contractor that we have now got,” Grant Bowie, chief executive of MGM China, said.
