MGM China Invests MOP$15 Billion in New MICE and Arts Spaces in Macau and Cotai
MGM Macau and MGM Cotai, MGM China’s Macau resorts, are getting the new MICE and art space. MGM China is owned by the global industry giant MGM Resorts International, which is based in the U.S.
Luxury hotels added modern to existing hotels:
Pansy Ho, co-chairman and managing director of MGM China, confirmed the claim, saying it was part of a 10-year concession.
The latest facilities will be deployed over 60,000 square meters in Macau and 100,000 square feet in Kotai. This space will meet all the needs of the MICE venue with modern, high-tech designs. The plan is to build smaller, more personalized venues that are tailored to the needs of the hotel.
The new MGM Macau venue is expected to begin late in the third quarter of next year, just before the 25th anniversary of the territory’s return to its home country.
As far as Kotai Real Estate is concerned, the project has still not been approved by the government: “This new building is not under our control. This is a new theme, so we have to apply to the government.”
The extension of the Kotai property will be placed outside the hotel, and is envisioned as a themed building, with details still unknown.
Commitment to the arts:
The space is for various kinds of art, and MGM is working with artists to hold art exhibitions in public, and we will try to help residents and tourists explore Macau from a different angle to a more artistic place, Ho said.
Under the new concession, MGM China is obliged to invest $15 billion in various non-game elements of the site, including art and cultural amenities for property visitors.
The executive said, “There is space within the two existing properties that has not yet been fully utilized. This is the space for the company to apply to the government for development. To that end, we will focus on artistic and cultural elements.”
MGM Cotai will one more time work with Joana Vasconcelos, a famous artist from Portugal, to bring a new luxury art installation that the artist created with Dior, Valkyrie Miss Dior, to Macau. 릴게임