MGM International's CEO Bill Hornbuckle recently stated that the competition in the Macau market has become "like rabid dogs fighting over food." Despite being favored by "Lady Luck" in 2025 and the first quarter of this year, he remains cautious about the expectations for the remainder of the year. Thanks to the new facilities that started operations in the middle of last year—including the Macau Alpha Club, the 124 main suites in Cotai debuting next month, and the three-story renovated suites—the company is steadily advancing towards its annual goals. Simply put, everyone is fighting over the same piece of meat, and it's all about who has the tougher bones.
Strategic Focus: All-in on the High-End Mass Market
Hornbuckle emphasizes that the high-end mass market business "has truly brought about change," and the company is fully committed to it. Currently, MGM holds about 15% of the market share in Macau, and he expects this pattern to remain stable. Notably, among the company's top ten clients, six to seven are from the high-end mass market, with the rest being traditional VIPs. He believes that the gaming preferences of these players will not change significantly in the short term. Past VIP area renovations have also focused on serving this group, reflecting profound changes in market structure.
Market Outlook: Rational Growth, Non-Gaming Investments to be Optimized
Hornbuckle believes that the pattern, scale, and service methods of the Macau market will be "quite stable" over the next one or two years. Under the ten-year gaming concession, the company has completed about 35% of its non-gaming investment commitments. However, how to use the subsequent funds poses more challenges and requires in-depth discussions with the government to enhance efficiency. Although Macau's gaming revenue once reached $45 billion and aimed at $60 billion, it has now stabilized at over $30 billion. Nevertheless, he remains optimistic about market growth, believing that the government will lead a more controlled and rational development. Interested in the latest updates on Macau's gaming industry? PASA's official website keeps you informed.
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