As concessionarias e ligação à China

mar25

A new hotel brand, MGM RESERVE, is to have its debut in mainland China, with a property of that name (pictured in an artist’s rendering) to launch in May in Zhuhai, the nearest mainland city to Macau, the only place in China where casino gambling is legal.

The information about the opening was given by the property’s promoter, Diaoyutai MGM Hospitality Ltd, in a Thursday update on Chinese social media platform WeChat.

Diaoyutai MGM Hospitality is a joint venture between China’s Diaoyutai State Guesthouse and United States-based casino group MGM Resorts International. The latter is the parent of Macau casino resort operator MGM China Holdings Ltd.

Thursday’s Chinese-language update did not mention how many rooms Zhuhai’s MGM RESERVE will have. But it noted that the Zhuhai hotel – with local landmark Phoenix Hill as a backdrop – will feature guest rooms, villas, three restaurants of “distinct styles”, and banquet space.

The MGM RESERVE marque joins a portfolio of hotel and residence brands that Diaoyutai MGM Hospitality currently promotes on the mainland. It includes: Diaoyutai Hotel; Bellagio by MGM; MGM; Mirage by MGM; Mhub by MGM; and mx by MGM.

The Diaoyutai MGM venture has been adding hotel capacity on the Chinese mainland in recent years, with a number of the venues being in cities that make up the Guangdong-Hong Kong-Macau Greater Bay Area.

That includes the beachside hotel MGM Shenzhen, which opened last year. Hotels slated but yet to open, are Diaoyutai Boutique Hotel Shenzhen; MGM Shenzhen Prince Bay; and mx by MGM Shenzhen, according to the official website of Diaoyutai MGM Hospitality.

https://www.ggrasia.com/mgm-reserve-branded-hotel-to-open-in-zhuhai-next-door-to-macau-in-may?utm_source=rss&utm_medium=rss&utm_campaign=mgm-reserve-branded-hotel-to-open-in-zhuhai-next-door-to-macau-in-may

jan25

LVS plans to increase investment in China, Goldstein tells vice-minister of commerce

By

 Newsdesk

China’s Vice-Minister of Commerce, Wang Shouwen, met with the chairman and CEO of Las Vegas Sands Corp (LVS), Robert Goldstein, this week in Beijing.

Goldstein stressed that as the world’s two largest economies, China and the United States can benefit each other and the world through their cooperation, according to Xinhua News Agency.

In the meeting, held on Wednesday, the CEO of Sands China’s parent company added that Las Vegas Sands Corp plans to continue increasing its investment in China for mutually beneficial outcomes, as quoted by the Chinese state news agency. Sands China’s executive vice chairman Wilfred Wong also joined the meeting.

Wang said China encourages foreign businesses, including Las Vegas Sands Corp, to seize opportunities in the market.

The vice-minister noted that “the Chinese economy has demonstrated strong resilience and intrinsic momentum, which plays a crucial role in boosting global confidence in development.”

Wang indicated that China welcomes foreign businesses to share in the country’s development dividends.

LVS is a US gaming and integrated resorts company headquartered in Las Vegas, currently with operations in Macau and Singapore. The Macau operations are carried out under the group’s majority-owned subsidiary Sands China, the holding company of gaming concessionaire The Venetian Macau, S.A., one of the city’s ‘Big Six’ casino operators.

https://www.macaubusiness.com/lvs-plans-to-increase-investment-in-china-goldstein-tells-vice-minister-of-commerce/

jul24

MGM Shenzhen (pictured), a beachside hotel in a mainland city next door to Hong Kong and close by Macau, has had an official launch, according to its promoter, Diaoyutai MGM Hospitality Ltd.

Diaoyutai MGM Hospitality is a joint venture between China’s Diaoyutai State Guesthouse and United States-based casino group MGM Resorts International. The latter is the parent of Macau casino resort operator MGM China Holdings Ltd.

According to a Diaoyutai MGM Chinese-language account on the WeChat social media platform, MGM Shenzhen, in Shenzhen, Guangdong province, has 321 guest rooms. The property is at Shenzhen city’s Xiaomeisha beach, in the Yantian district.

The property promoter had previously flagged that the hotel would be one of two new properties launched in 2024. The other mentioned was Diaoyutai Hotel Zhuhai, which is in Guangdong’s Zhuhai, immediately next door to Macau, and a major land-crossing point for mainland tourists entering Macau.

https://www.ggrasia.com/mgm-shenzhen-hotel-launches-near-macau-diaoyutai-mgm/

https://macaonews.org/travel/mgm-shenzhen/ 

 jun24

Some mainland China players may have put off visiting Macau in June amid publicity about a crackdown by the Chinese authorities on unlicensed cross-border money exchange, says a Monday note from Seaport Global Securities LLC.

“We believe this crackdown round is having some negative impact on money flows into Macau and certain individuals have postponed their visits to Macau,” stated analyst Vitaly Umansky.

The authorities’ activity “will likely continue to be somewhat of a headwind to GGR [gross gaming revenue] over the next month or two,” he wrote.

But Mr Umansky added: “We expect the crackdown to soften and liquidity in Macau to be not significantly impacted in the medium term.”

June GGR might also have been negatively affected by the Euro 2024 international soccer tournament in Germany running from June 14 to July 14. Macau in June typically had modest play volumes anyway, said Mr Umansky.

https://www.ggrasia.com/some-players-avoiding-macau-amid-cash-crackdown-analyst/

Apri24

As a patriotic Chinese enterprise deeply rooted in Macau, Galaxy Entertainment Group (“GEG”) actively encourages its team members, local youths, and the community to keep abreast of the country and Macau’s development through various approaches. As this year marks the 75th anniversary of the founding of the People’s Republic of China and the 25th anniversary of the establishment of the Macau Special Administrative Region (“SAR”), GEG hosted the “Sharing Session of the NPC and CPPCC – GEG National Education Series” for the fifth consecutive year with the support of the Macao Chamber of Commerce (“MCC”) and the Chinese Cultural Exchange Association (“CCEA”). Held today at the Galaxy Auditorium of the Galaxy International Convention Center, the event invited Mr. Chui Sai Peng, Deputy to the National People’s Congress (“NPC”) and Chairman of CCEA; Mr. Ma Chi Ngai, Member of the National Committee of the Chinese People’s Political Consultative Conference (“CPPCC”) and President of Board of the Directors of MCC; and Mr. Francis Lui, Member of the National Committee of the CPPCC and Vice Chairman of GEG, to share the spirit of the “Two Sessions” and profound insights with approximately 600 GEG executives, representatives of CCEA and the Macau University of Science and Technology (“MUST”) that attended in-person or online from different regions.

https://macaudailytimes.com.mo/178131.html