- Integrated resort will now open January 29, company says
- Two-year project plagued by setbacks, including typhoon
The upcoming MGM Cotai integrated casino resort in Macau will now open in January 2018 after missing yet another 2017 deadline, MGM China has confirmed.
The ambitious project to create an “architectural icon” has been hit by setbacks throughout construction, including the deadly typhoon which struck Macau earlier this year and flooded parts of the city.
The most recent delay only pushes opening back by one month, but it means 2018 will be a very busy year for the casino brand.
MGM has plans to expand in Japan and is expected to bid for an operating license, and the MGM Springfield opens next year as well.
Budget upgrade as casino scrambles to reach opening date
The luxurious integrated resort now has a working budget of HK$27 billion (around $3.5 billion) after MGM announced an additional HK$1 billion of funds for the project.
In April, MGM International CEO Jim Murren stated that the casino world be opening in October 2017 – and as late as September this year MGM China was still reporting that it was on track to reach this deadline, despite previous schedule milestones being missed.
The resort’s initial opening date was back in late 2016.
The latest delay can be at least partly attributed to Typhoon Hato, a deadly storm which caused widespread flooding and damage in Macau.
Though MGM Resorts’ insurance will absorb the cost of the damage, the company has been impacted financially in the short term and many workers involved in construction and development have been directly affected.
Busy year for MGM with several international projects
The delay in opening MGM Cotai is not a significant one, as the property is now scheduled to open on January 29, 2018.
The company’s local subsidiary MGM China, who will manage the Cotai Strip venue, already have another property in the city and are well established in the market.
However, MGM bosses will have been hoping to get the luxury Macau resort wrapped up before the end of the year, as 2018 looks set to be an active one for the brand.
Back in the USA, MGM Springfield is scheduled to open in 2018. The Massachusetts venue is close to receiving full approval with 95% of plans already submitted to city officials.
The $950 million mega-casino has a provisional opening date of September 2018.
Meanwhile, Japan could still legalize casino gambling in some of its key cities next year, and MGM Resorts has already confirmed it will bid for a license if the market opens up.
Want to try an online casino?
Choose an approved casino from our carefully selected list. VIEW CASINOS