The opening of the MGM Macau is postponed until mid-2016

The CEO of MGM, Grant Bowie, has confirmed that the opening of the MGM Macau resort (worth $2.9 billion) on the Cotai Strip in Macau will be delayed until mid-2016.
This announcement did not surprise the many commentators, as rumours circulated about possible delays since James Murren, the co-president of the subsidiary MGM China, said that the project encountered some difficulties in obtaining the necessary construction permits.

A situation comparable to that of Sands China

MGM is not the only group facing this kind of problem.
Indeed, their rival Sands China has also had to temporarily stop construction of their complex The Parisian at the Cotai Strip because they did get the necessary permits.
Under normal circumstances, work should resume in October, and the complex is scheduled to open in late 2015.
Grant Bowie took things easy, and recognised that the casino operators have to comply with very strict regulations everywhere in the world, and that there is no preferential treatment to a particular group.

A few details about MGM Macau

On the occasion of the press conference, the CEO of the MGM group also took the opportunity to present in more detail the complex that will accommodate 37 villas that are being designed by the renowned French architect Jacques Garcia, and several sky lofts offering stunning views over the city.
MGM Macau will also feature a special games room for VIP players with smaller tables for maximum privacy.

The transformation of the market

Grant Bowie also made some statements about the slowdown in the Macau gaming market.
According to him, the market for the former Portuguese colony is changing.
All the operators realised that the market is pushed into diversifying the services of the establishments.
New offers that are not related to gambling must therefore be developed.
Tourists buy lots of food and drink, go to shows, and they tend to spend a lot of money in other areas than just the casino.
In contrast, VIP customers rather prefer playing.
Obviously, they eat and sleep as well, but mostly they spend their time playing.
The CEO of MGM says that he is not concerned by the recent decline in the revenue growth rate of the general audience.
He also added that no significant changes in the market had been detected.