{"id":34218,"date":"2018-01-31T09:00:36","date_gmt":"2018-01-31T09:00:36","guid":{"rendered":"https:\/\/gaming-awards.com\/NEWS\/?p=34218"},"modified":"2018-01-31T09:00:36","modified_gmt":"2018-01-31T09:00:36","slug":"cotai-casino-launch-gets-delayed","status":"publish","type":"post","link":"https:\/\/gaming-awards.com\/NEWS\/cotai-casino-launch-gets-delayed\/","title":{"rendered":"Cotai Casino Launch Gets Delayed"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-30131\" src=\"https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2016\/09\/MGM-Macau-300x209.jpg\" alt=\"\" width=\"300\" height=\"209\" srcset=\"https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2016\/09\/MGM-Macau-300x209.jpg 300w, https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2016\/09\/MGM-Macau-210x146.jpg 210w, https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2016\/09\/MGM-Macau.jpg 466w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>MGM China Holdings, one of the largest casino operators in Macau, has once again postponed the opening of the MGM Cotai Casino. The project, estimated to be worth around $3.4 billion, was supposed to open this month, according to reports from last year.<\/p>\n<p>&nbsp;<\/p>\n<p>However, MGM China has put the launch on hold, citing pending approvals.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Not the first delay<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p>The Cotai is MGM\u2019s second integrated casino facility in Macau. According to the original schedule, it was set for an opening on the 29th of January. Even invitations for the launch had been sent out.<\/p>\n<p>&nbsp;<\/p>\n<p>This isn\u2019t the first time the Cotai\u2019s launch has been plagued by a delay.<\/p>\n<p>&nbsp;<\/p>\n<p>The first launch was scheduled in 2016. This was eventually postponed to early 2017 and then again to late 2017. In September 2017, MGM announced that the launch would be further postponed to January 2018.<\/p>\n<p>&nbsp;<\/p>\n<p>In a recent filing to the Hong Kong Stock Exchange, MGM mentioned that the company was still waiting to receive certain licenses under the usual administrative approval process. Based on current estimates, the company has stated that the Cotai opening will probably take place sometime next month.<\/p>\n<p>&nbsp;<\/p>\n<p>MGM also stated that the total budget for the project has largely remained unchanged, still hovering around the $3.4 billion mark. When asked about the pending approval, the company replied that it was \u201cworking closely\u201d with the government in Macau.<\/p>\n<p>&nbsp;<\/p>\n<p>Ever since the announcement of a further delay was made, the company\u2019s shares experienced a drop of 7.6%.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>A grand project<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p>The MGM Cotai is a grand structure that will be home to around 1,390 hotel rooms. The entire project took around 5 years to be developed. The objective behind the setting up of the MGM Cotai was that it would help bring about more diversity in MGM\u2019s products and also open up an avenue for innovative and advanced entertainment options in the Macau market.<\/p>\n<p>&nbsp;<\/p>\n<p>MGM China is a collaboration between Las Vegas-based MGM Resorts and Pansy Ho Chiu-king, who happens to be the daughter of Stanley Ho Hung-sun, a gaming mogul. MGM already operates a major venue in Macau City known as the MGM Macau.<\/p>\n<p>&nbsp;<\/p>\n<p>The resort casino employs almost 6000 people and posted earnings of around HK$3.68 billion last year in the third quarter. This was 5% more than what it earned in the second quarter of the same year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MGM China Holdings, one of the largest casino operators in Macau, has once again postponed the opening of the MGM Cotai Casino. The project, estimated to be worth around $3.4 billion, was supposed to open this month, according to reports from last year. &nbsp; However, MGM China has put the launch on hold, citing pending [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":30131,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,11,8,7],"tags":[],"class_list":["post-34218","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gaming","category-headlines","category-latest","category-macau"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cotai Casino Launch Gets Delayed - iGaming Post<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gaming-awards.com\/NEWS\/cotai-casino-launch-gets-delayed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cotai Casino Launch Gets Delayed - iGaming Post\" \/>\n<meta property=\"og:description\" content=\"MGM China Holdings, one of the largest casino operators in Macau, has once again postponed the opening of the MGM Cotai Casino. The project, estimated to be worth around $3.4 billion, was supposed to open this month, according to reports from last year. &nbsp; However, MGM China has put the launch on hold, citing pending [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gaming-awards.com\/NEWS\/cotai-casino-launch-gets-delayed\/\" \/>\n<meta property=\"og:site_name\" content=\"iGaming Post\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-31T09:00:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2016\/09\/MGM-Macau.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"466\" \/>\n\t<meta property=\"og:image:height\" content=\"325\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Staff\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@igamingpost\" \/>\n<meta name=\"twitter:site\" content=\"@igamingpost\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Staff\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/cotai-casino-launch-gets-delayed\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/cotai-casino-launch-gets-delayed\\\/\"},\"author\":{\"name\":\"Staff\",\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/#\\\/schema\\\/person\\\/38b848f26341d94a3f6b1f5d9642234c\"},\"headline\":\"Cotai Casino Launch Gets Delayed\",\"datePublished\":\"2018-01-31T09:00:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/cotai-casino-launch-gets-delayed\\\/\"},\"wordCount\":400,\"publisher\":{\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/cotai-casino-launch-gets-delayed\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/wp-content\\\/uploads\\\/2016\\\/09\\\/MGM-Macau.jpg\",\"articleSection\":[\"Gaming\",\"Headlines\",\"Latest\",\"Macau\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/cotai-casino-launch-gets-delayed\\\/\",\"url\":\"https:\\\/\\\/gaming-awards.com\\\/NEWS\\\/cotai-casino-launch-gets-delayed\\\/\",\"name\":\"Cotai Casino Launch Gets Delayed - 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