A “new phenomenon” in the Macau casino market is that “even ahead of a holiday” there is “no slow period,

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A “new phenomenon” in the Macau casino market is that “even ahead of a holiday” there is “no slow period,” said Kenneth Feng Xiaofeng, chief executive of Macau operator MGM China Holdings Ltd. He was speaking on Thursday on the call of the parent, MGM Resorts International, to discuss the fourth-quarter earnings of the whole group.

On Wednesday the parent had reported MGM China’s net revenue for the three months to December 31 as having climbed 21.4 percent year-on-year, to just under US$1.24 billion.

The Macau unit had adjusted earnings before interest, taxation, depreciation, amortisation and rent (EBITDAR) of just under US$332.3 million for the reporting period, an increase of 30.5 percent from the same quarter a year earlier.

Mr Feng was asked on the call about costs in the Macau market, business margins and the prospects for the upcoming Chinese New Year (CNY) break, a nine-day holiday on the Chinese mainland, that begins on February 15.

The MGM China CEO stated: “As to Chinese New Year we are very optimistic. We see very, very encouraging booking trends.”

He added: “We even have a long waiting list for our top-tier of hotel products. The player quality is very high.”

MGM China runs MGM Macau (pictured) on the city’s peninsula, and MGM Cotai in the newer casino district.

MGM Resorts’ management had mentioned on the second-quarter call last year, that MGM Cotai was creating 60 new suites via room conversion, and that MGM Macau’s 28 ‘Alpha Villas’ and ‘Alpha Club’ – focused on high-end players – had opened.

Mr Feng said on the latest call, that while MGM China had “limited room inventory,” it was putting strong effort into “premium mass” players.

He stated, referring to gaming clients: “We are very focused on quality over quantity and yield management is always our strength.

“We are confident about the demand. We will make sure that we yield our products wisely and we will mature what we are doing to serve the customers that we want.”

Mr Feng further noted: “There’s a new phenomenon these days even ahead of holidays. There’s no slow period. So we feel good about it in general.”

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