No pessimism necessary about gaming slowdown, says MGM China

Chief Executive of MGM China, Grant Bowie, believes that the gaming market will gradually stabilise despite its continuing adjustment in the second half of this year, saying the public need not be too pessimistic.
Following 10 consecutive declines in the city’s monthly gaming revenues, the MGM China chief executive perceives that Macau is still a successful gaming market, he told Chinese-language newspaper Macao Daily published yesterday.
In his comments to the newspaper, he indicated that the industry’s mass market will grow bigger and non-gaming elements will keep increasing in the market, as some of the VIP rooms in the Special Administrative Region are adjusting their businesses.
As such, he predicted that the revenue ratio of the mass market and VIP market of MGM China would get closer in the future.
According to Mr. Bowie, the management of MGM China had conducted new measures following changes in the gaming market, such as introducing more non-gaming elements in terms of entertainment and Food & Beverage.
Meanwhile, the MGM chief said the corporation’s new casino project in Cotai has not been affected by the slowdown of the industry, stressing that the ongoing construction has not been delayed but is progressing well.
On the other hand, he reckons that the anti-graft campaign of the central government, a chief factor driving down VIP gaming revenues in Macau, is not a bad thing as it would cause the market to be sustainable and develop healthily.
In addition, the chief of the gaming corporation is not worried about possible improvement measures concerning the Individual Visit Scheme (IVS) for Mainland tourists entering Macau that may affect the gaming industry. Instead, he believes all the gaming corporations will offer diversified elements to attract tourists.
Mr. Bowie also said his company did not force its workers to take unpaid leave but it is willing to approve workers’ application for leave.
K.L.