MGM Cotai submits request to Macau government asking for new live dealer tables allocation
Lionel Leong Vai Tac, who currently serves as a Secretary for Economy and Finance of Macau, announced last week that the government of Macau received an application for new-to-market live-dealer tables for MGM Cotai resort. The gambling operator’s request has been made to the casino regulator of the city.
Live Dealer Application
The Gaming Inspection and Coordination Bureau, a local casino regulatory body, had received the request but no details were provided about the number of gaming tables requested by the gaming operators.
Leon added that the gaming bureau submitted a report submission of the Economy and Finance office’s analysis on the matter to his office and that the government would announce the result of the process of evaluation and consideration in due course.
Two separate date openings are planned for the MGM Cotai in order for the operator to make the technical arrangements so everything works properly. The venue will officially be opened on 29 January and grand opening ceremony is scheduled for 13 February.
The propriety has capacity for 500 live-dealer tables as the operator revealed itself, but the Deutsche Bank Securities Inc., analyst of brokerage, estimated that a permission for a total of 150 tables is most likely to be granted to the venue.
The Macau government runs the so-called table cap policy since 2013, limiting the number of new live dealer tables in local casinos to 3% until the end of 2022, from the base of 5,485 tables recorded at the end of 2012.
Last year’s fourth quarter saw a total of 6,419 live-dealer tables, 30 fewer than at the end of the third quarter in 2017.
MGM Cotai resort is estimated to $3.46 billion and will become one of six operators provided with license to run casino operations in the Macau gambling market. The Parisian Macao, a $2.7 billion project from Sands China, opened in the autumn 2016 and received a 150-table allocation just 10 days before its launch so this allocation is similarly expected just days before it opens. Fifty new-to-market live dealer tables were granted and started operating on 1 January 2018.
Secretary Leong expects 2018 casino gross gaming revenue in Macau to expand at a steady pace throughout the year since in 2017, the monthly rate of year-on-year GGR growth ranged from 3.1% in January to 22.6% in November.
The average expansion year-on-year for 12 months was 19.1%. Just earlier this month, the Macau government adopted new rules for live dealer games in order to boost the market’s confidence.