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MGM Cotai likely to receive 150 new tables: analysts

Friday, 12 January 2018 05:45
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MGM China’s new Macau integrated resort, MGM Cotai, is likely to be granted 150 new-to-market gaming tables ahead of its 29 January launch, according to analysts, although the exact make-up of the allocation remains to be seen.

The figure, if accurate, would see MGM Cotai receive the same number of tables as both Wynn Palace, which opened in August 2016, and Parisian Macao which launched a month later in September 2016.

Contacted by Inside Asian Gaming this week, Union Gaming’s Head of Asia Equity Research, Grant Govertsen, said, “I think the baseline expectation is for 150 tables, identical to what was granted to Wynn Palace and Parisian.

“Anything greater than 150 would represent a pleasant surprise.”

Morgan Stanley’s Praveen Choudhary agreed, stating, “Wynn and Parisian got 100 + 25+ 25 so one should expect MGM to get the same. 125 is a good outcome on the first day … we have 125 for 2018 in our model.”

Both Wynn Palace and Parisian Macao opened with 100 new tables in late 2017 with another 25 granted on 1 January 2017 and 25 more on 1 January 2018.

Whether or not MGM Cotai receives 125 straight up or fewer remains to be seen.

Deutsche Bank analysts this week also tipped Macau’s newest IR to be granted 150 new tables but added the number isn’t hugely important “given the ability to shift capacity from the Peninsula and investor comfort that table utilization remains low.”

Galaxy Macau received 150 new tables when it launched Phase 2 in 2015 with another 100 allotted in two later batches, while Melco Resorts’ Studio City was granted 200 new tables that same year with 50 more in 2016.

 

 

 

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