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MGM Cotai to Have Unique Resident Show

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MGM Cotai to Have Unique Resident Show FOOTBALL LEGEND RONALDO FIRM ISSUES UNLAWFUL SUU KYI S IN MACAU MONTHLY PARKING PASSES ’ PARTY Dubbed “The Phenomenon,” A local firm is facing a HEADS FOR Ronaldo is playing in the maximum fine of MOP250,000 HISTORIC PokerStars 2015 Asia after issuing car park users Championship of Poker with monthly passes VICTORY P4 P4 P12 MYANMAR TUE.10 Nov 2015 T. 22º/ 28º C H. 70/ 95% Blackberry email service powered by CTM MOP 5.00 2435 N.º HKD 7.50 FOUNDER & PUBLISHER Kowie Geldenhuys EDITOR-IN-CHIEF Paulo Coutinho “ THE TIMES THEY ARE A-CHANGIN’ ” WORLD BRIEFS JIM MURREN EXCLUSIVE CHINA A Taiwanese pastor was detained for 15 days by Chinese police after visiting an unauthorized Christian MGM Cotai to have church congregation in central China, the pastor of the Chinese church group said yesterday. Li Jia’en, who leads the church unique resident show group in the central Chinese city of Luoyang, P2,3 said Shen Zhenguo had returned to Taiwan after being released on Oct. 29. Li himself also XINHUA was detained for the same length of time on the charge of holding an illegal religious gathering. AP PHOTO PAKISTAN A Pakistani official says the death toll from the collapse of a factory building last week has risen to 53. Jam Sajjad Hussain said yesterday that rescuers have sifted through nearly all the debris from the collapse of a four-story building in the eastern city of Lahore. Rescuers have retrieved 100 living workers from the rubble, including a teenager whose family assumed he was dead. The cause of Wednesday’s collapse is yet to be determined. VATICAN In his first public comments on the latest scandal rocking the Vatican, Pope Francis tells followers in St. Peter’s Square on Sunday that the theft of Vatican documents describing financial malfeasance inside the Holy See was a “crime” but pledged to continue reforms. USA An acoustic guitar that John Lennon used to record and write “Love Me Do,” ‘’I Want to Hold Your Hand” and other hit Alexis Tam: Carmo area to be songs sells for USD2.4 million at auction. P5EPORT More on backpage revamped into entertainment hub 10.11.2015 tue th Anniversary 2 MACAU 澳聞 Paulo Coutinho From movies to politics, being a JIM MURREN Republican – like many Nevada Q&A CHAIRMAN AND CEO, MGM IM Murren, 53, believes top gaming executives – Murren Jwhatever works for Macau says “no Republican candidate works for MGM, paraphrasing stands a chance against Hillary his mentor and long time boss Clinton.” Donald Trump has Kirk Kerkorian who passed away done more with “what he’s got What’s good for Macau ‘is good for MGM’ this year. “Mr Kerkorian told than anyone I know, but I have me once ‘what’s good for Vegas a few standards which I’d like to is good for us.’ I feel that way find in an elected official…” about Macau, too.” This policy of Mr Murren has been with accommodation contrasts with MGM for 17 years, first as CFO recent criticism by other casino and COO and, since 2009, as bosses mainly concerning table CEO. Under his guidance the allocations for Cotai 2.0. company has grown to be the bi- MGM Cotai is built to accom- ggest player in the US casino in- modate 500 tables, but “if we dustry and the latest results show were hypothetically permitted the company is turning a profit 250 tables we’d have to move despite Macau’s steep decline. In tables from here [the peninsu- Macau, he concedes, “we’re not la] to there. We wouldn’t have ever going to be the biggest, but enough tables to do everything we could be the best.” we would like to do in Cotai, but we would adjust to that. We MDT - MGM reported would make the best of the si- stronger than expected Q3 tuation. The focus on tables is, results including a USD66.4 I know, very high but misses the million profit. What happe- broader point.” ned in Vegas to turn it arou- The “broader point” for the nd from a loss a year ago? Chairman and CEO of MGM Jim Murren (JM) – Well, Resorts is the maturation and Las Vegas as a market has been growth of the Chinese tourist growing for the past five years. and the need to respond to this MGM is the dominant operator Murren with Pansy Ho and Grant Bowie at the Topping Off ceremony at MGM Macau, last week change. in Las Vegas; we’re bigger [there] “Are you delivering incremen- than the other two concessionai- tors in Las Vegas in the quarter. cases, would not even manage. which is more or less in line tal gaming activity, and therefo- res that are here. We’re bigger So instead, we came up with the with general industry re- re revenue to the government? than both of them combined. We MDT - At the same time, the structure of a company that sim- sults. However, there was That’s what the tables and the have invested more in Las Vegas company announced a plan ply moves many of our resorts a slight improvement from slot machines are intended to than our competitors over the to create a controlled Real into a subsidiary of MGM. quarter to quarter. Do you do. And how do you drive traffic past several years and as a result Estate Investment Trust - see any sign of stabilisation into your resort?! If you deliver of an improving market, combi- REIT (MGM Growth Pro- MDT - Ten, right? in these numbers? on the entertainment, on the ned with some very important perties). So, you’re going to JM - Ten resorts, into a new JM - Yes, there was a slight room product, on the food and entertainment in food and be- shift casino assets and debt company that would be listed on improvement quarter to quar- beverage offerings, then you will verage capital expenditures that to the new property com- the New York Stock Exchange, ter and I have to emphasise get higher productivity on the we’ve made, we’ve been able to pany, and lease the proper- that MGM Resorts will hold a how proud I am of Grant Bowie tables and therefore more ga- vastly outgrow the market itself ties back from the trust. You controlling economic interest in. who runs this property. I do see ming revenue.” and we reported the best quar- told investors this isn’t just So MGM Resorts will own about many signs that the market is Mr Murren visited Macau last ter that we’ve had since 2007 a “spin-off”. How’s this be- 70% of this new company and beginning to stabilise. I see it in week to meet with partner Pansy and the best growth quarter that neficial to the company? the public shareholders will own various dimensions of the mas- Ho, Grant Bowie and team, and we’ve had in over ten years. Our JM - A good question, thank the balance of the shares. MGM s-market business. I even see preside over the topping-off ce- profits in our wholly owned pro- you. So in the United States, Resorts will continue to mana- parts of our VIP business impro- remony at the new property in perties in the United States were for many, many years, there has ge all those resorts, all the em- ving. I see a tremendous level Cotai due to open in a year. up over 25%. been a recognition that the actual ployees will remain MGM Re- of interest when we have great In an interview with Macau assets that casino companies own sorts employees, which is very non-gaming events and I’ve got Daily Times and Ou-Mun Daily, have not been properly valued important to the employees be- to say, the must-see event of the Murren revealed the Cotai pro- in the marketplace and there cause they like being employees year here in Macau is Oktober- perty “will have a unique resi- has been a disconnect between of MGM. fest right here. It’s like everyo- dent show,” and a decision was the actual assets held by com- ne’s got to go and it was more po- being made last week between I’m not panies and the valuations that MDT - Will this in any way pular this year than last year and “three options which made the they have been able to achieve in affect properties and ope- more popular last year than the final cut.” concerned the public marketplace. MGM rations in Macau? year before and it really speaks MGM Cotai will have a versa- about caps on owns more assets in Las Vegas JM - Not at all. MGM Resorts to MGM that we’re the entertain- tile theater, The Spectacle, that than anyone. We own over 700 will remain the owner of 51% of ment company and every time can be converted quickly into a tables or table acres of land on the prized Las MGM China. MGM Resorts will we can deliver on entertainment nightclub, concert or ballroom Vegas Boulevard and it has been also own 50% of City Centre, we see a really nice jump in vi- space, and a mall lined with res- allocations. a really rewarding but complica- the major new project we bui- sitation to this property. Our taurants, landscaping and video ted exercise to conclude how best lt in Las Vegas. The properties greatest frustration has been the effects, Murren said. “It will be MDT - Was there a general to allow investors to realise the that are being moved into MGM fact that we have not had a large an indoor space that will feel improvement in the market value of this untapped, unlocked Growth Properties are wholly enough pallet in order to paint very outdoors.” in Vegas? potential.
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