Jan.22, 2010
As casino operators struggle to bring in revenue from Chinese gamblers beyond Baccarat, analyst say MGM Grand, a subsidy of MGM Mirage (MGM: 11.62 +2.65%) consistently lag in market share because the luxury casino resort does not appeal to their taste.
However the gaming company is focusing on making changes necessary to fill the resorts bars, restaurants and spas.
MGM Grand Paradise Ltd. President Grant Bowie says, “We need to make it a China brand…that’s my role.”
Bowie says the company plans to relaunch the Macau brand soon with a new marketing campaign geared towards upper middle class Chinese patrons.
He declined to go into more specifics on the relaunch but offered an example of such tweaks by saying the Rossio restaurant will offer a more traditional buffet, which could help generate 80% more business over time.
Other examples given were making the casino’s elaborate main entrance more accessible so taxis can conveniently drop off guests.
Bowie hopes such changes will help frame their growth on the Cotai Strip, as the joint venture between MGM Mirage and Pansy Ho look to launch their Hong Kong IPO.
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