MGM plans expansion in Macau to diversify beyond casinos [Yahoo! Finance]
MGM Resorts International (MGM)
Last mgm resorts international earnings: 4/30 04:15 pm
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Source: Yahoo! Finance
The proposed development would include a new wellness-themed building in Cotai, Macau, featuring additional hotel rooms and a range of wellness services such as spas and health treatments. Although the plans are in the preliminary stages and subject to change, the expansion reflects MGM's strategy to attract a broader customer base, particularly the "premium mass" segment. The company, which currently has around 2,000 rooms in Macau, the smallest among the city's six casino operators, is in discussions with consultants and designers for the project. The expansion is part of MGM's efforts to increase its non-gaming attractions and draw mass-market tourists. These visitors, known for their substantial spending, are becoming increasingly important as China's crackdown on junkets, who are agents that helped bring casinos bring high-end customers, has diminished the VIP segment's dominance in Macau's gaming industry. An MGM China spokesperson declined to comment on the specifics
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MGM
Earnings
- 7/31/24 - Beat
MGM
Sec Filings
- 9/17/24 - Form 8-K
- 9/13/24 - Form 4
- 9/13/24 - Form 4
- MGM's page on the SEC website