MGM Grand Paradise Ltd. (MGM Grand Paradise) is pleased to announce that the Company and Macao SAR Government today signed the new 10-year gaming concession contract, effective January 1, 2023. The Company is honored to join hands with the Macao SAR government and the Tender Committee to have achieved this historical milestone. MGM Grand Paradise always has full confidence in the prospects of both Macau and the Company, and will stay dedicated to fulfilling our commitments to the Macao SAR government as well as proactively aligning with the Nation’s directions to foster high-quality tourism development.
Pansy Ho, Managing Director of MGM Grand Paradise Ltd., said, “The gaming concession awarded to MGM Grand Paradise marks an important milestone for the Company. I am truly grateful for the trust and recognition by the Macao SAR government. The new concession also ushers in a novel development opportunity for me. With excitement and unwavering spirit, I will devote myself to taking up the responsibilities over the next 10 years and carrying out the Company’s commitments to Macau. We strive to propel the city forward, and will continue to leverage our strength to bring forth innovations, giving fresh impetus to Macau’s position as ‘One Center, One Platform, and One Base’.”
Bill Hornbuckle, Chairperson and Executive Director of MGM China Holdings Limited, said, “On behalf of MGM Resorts International, I would like to express my heartfelt gratitude to the Macao SAR government for giving us support and opportunity on the new gaming concession. We always believe in the strong potential of Macau. As Macau is entering a new milestone, we will continue to share our international network, experience and resources with the Macau team. Under the leadership of Managing Director Pansy Ho, together with our remarkable management team, I am confident that MGM China will demonstrate further strength in the integrated tourism and leisure industry and continue to make contributions to Macau.”
MGM is an abbreviation for MGM China Holdings Limited (HKEx: 2282) and is a leading developer, owner and operator of gaming and lodging resorts in the Greater China region. We are the holding company of MGM Grand Paradise, SA which holds one of the six gaming concessions/subconcessions to run casino games in Macau. MGM Grand Paradise, SA owns and operates MGM MACAU, the award-winning premium integrated resort located on the Macau Peninsula and MGM COTAI, a contemporary luxury integrated resort in Cotai, which opened in early 2018 and more than doubles our presence in Macau.
MGM MACAU is a Forbes Five-Star luxury integrated resort inspired by the arts with every element of the resort infused with creativity and style. MGM MACAU has approximately 600 guest rooms and suites and boasts a number of distinguishing features, including the architecturally stunning European-inspired Grande Praça, housed under a soaring glass ceiling. MGM MACAU’s world class facilities include the MGM Art Space, dedicating over 5,000 square feet to display authentic works of art, conference and event facilities, spa, and seven signature restaurants and bars to fulfill any gastronomic craving. Our property is conveniently located on the Macau Peninsula and is directly connected to the luxury retail shopping complex, One Central.
MGM COTAI is the latest integrated resort of MGM in China. Designed as the “jewelry box” of Cotai, it offers approximately 1,400 hotel rooms and suites, Asia’s first dynamic theater, meeting space, high end spa, retail offerings and food and beverage outlets as well as the first international Mansion at MGM for the ultimate luxury experience. The Spectacle at MGM COTAI becomes the record holder of the largest free-span gridshell glazed roof (self-supporting) on January 19, 2019, making it the first architectural and structural GUINNESS WORLD RECORDS™ title for Macau, China. MGM COTAI is being developed to drive greater product diversification and bring more advanced and innovative forms of entertainment to Macau as it grows as a global tourist destination. MGM COTAI is the only mega complex and hotel in Macau to gain three-star certification in both Green Building Design and Operation Label, as well as the first hotel in the Greater Bay Area and second in Greater China to receive the certifications.
MGM China Holdings Limited is majority owned by MGM Resorts International (NYSE: MGM), one of the world's leading global hospitality companies, operating a portfolio of destination resort brands including Bellagio, MGM Grand, Mandalay Bay and The Mirage.
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