MGM China CEO optimistic about Macau

MGM China CEO Grant Bowie says the gaming market will gradually stabilize despite 10 months of consecutive revenue declines, and that the public need not be pessimistic.

Bowie said despite Macau’s testing times it is still a successful gaming market, he told Chinese-language newspaper the Macao Daily.

As China’s anti-graft campaign forces operators to switch the focus of their activities, Bowie predicted that the industry’s mass market will grow bigger and non-gaming elements will keep increasing in the market. He added that the gap between mass and VIP revenue for MGM China will narrow in the future.

Bowie is similarly upbeat about the recent tourist cap of 21 million Mainland visitors to Macau per year saying that, although the cap and China’s anti-graft campaign are having a negative impact at the moment, both factors will lead to a more sustainable and diverse economy.

He added that the company’s new casino project in Cotai has not been affected by the slowdown of the industry and is progressing well.

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