MGM Grand Paradise, the equally owned joint venture of Pansy Ho of Macau and MGM Mirage of Las Vegas, commenced operations at its first resort casino last month. And although some industry watchers are already talking about “opening fatigue”—referring to the number of grand openings Macau has seen this past year—apparently nobody informed the crowd of hundreds who waited several hours for the doors to open and get into action at the MGM Grand Macau’s virgin tables and slots.

MGM Mirage Chairman and CEO Terri Lanni says the opening marks a major milestone for the company and Pansy Ho.

‘We have long anticipated this moment,” Lanni said. “It marks the beginning of a new era, both for our company and for the Macau gaming market. We've been eager to demonstrate the combined capabilities of our partnership and this striking resort is testament to what we can achieve together. We are confident our efforts brought satisfaction to our many guests who celebrated with us tonight and will continue to do so for the many who visit Macau in the future. We look forward to showcasing to the world what we have created.”

Ho agrees, especially where the high-roller market is concerned. With 16 private gaming rooms, MGM is clearly aiming to be one of the destinations for this lucrative group of players. Ho believes the number of casinos offering high-end action presents “… a really formidable proposition to all VIP customers that this should be the center of the high-rolling gaming experience.”

“Macau is the most important gaming market in the world,” Bob Moon, president and CEO of MGM Mirage International, said. “What you have is a mass market and a very aggressive government that is trying to make this a true international destination.”

Macau’s 2007 combined results for casino gaming, horse and dog racing and lotteries show gross gaming revenue at 83.847 billion patacas, which converts roughly to US$10.5 billion. With MGM Grand Macau now open, that number will increase again in ’08.

The $1.25 billion MGM Grand Macau has 600 rooms, suites and villas, with the main tower reaching 35 stories. Non-gaming amenities include a number of restaurants catering for a variety of international tastes, a top quality spa, convention space, and a large central plaza that incorporates classic
Portuguese architecture and which is capped with a glass ceiling 25 meters above the floor. The property currently employs around 6,000. There are reportedly plans to expand in the next year or two, to the tune of as much as 120,000 square feet for gaming and 80,000 for non-gaming facilities.

With the new property up and running, Macau now has 8,300 luxury hotel rooms, 4,400 tables and 12,400 slots.

The MGM Grand Macau is looking to compete with the Wynn Macau and the Crown Macau for the high end market, as opposed to the mass market approach being followed by Venetian Macao. Interestingly, the Crown is a joint venture between James Packer’s Crown Limited and Melco International Development Ltd., which is run by Lawrence Ho, who is the brother of Pansy Ho.

By Casino Connection Staff

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