MGM China eyes Hengqin project

MGM China is eyeing an investment in a project on Hengqin island, neighbouring Macau, a local newspaper cited CEO Grant Bowie as saying.

Mainland authorities are currently considering whether to give the go ahead for the land to be used. The project would not contain gaming facilities as they are not permitted on Hengqin. Bowie gave no further details.

Analysts expect most of the major operators to eventually seek to invest in the island, which has been designated as a Special Economic Zone by Beijing. The island is likely to eventually be able to provide the lower-cost accommodation that is lacking in Macau, helping to further develop the mass segment of the market.

Galaxy Entertainment already has plans for a resort on Hengqin and said recently it expects to break ground on the project early next year.

The company is planning a Maldives-style resort that will be divided into three phases and will take seven to eight years to complete.

 

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