Macau’s six incumbent casino operators (MGM, Galaxy Casino, Venetian Macau, Melco Resorts, Wynn Macau and SJM) are expected to invest $14.7bn over the next decade for non-gaming projects to increase international traffic. Venetian has committed to spend MOP 27.8bn ($3.5bn) on non-gaming projects that includes new theme parks, expanding and upgrading its convention facilities etc. Galaxy is planning to spend MOP 27.5bn ($3.4bn) to build a 610,000 sq m hi-tech theme park amongst other projects including holding more sporting events. Melco has committed MOP 11.82bn ($1.5bn) for non-gaming to include its planned indoor water park to be opened next year and to promote sports and hold competitions. Wynn will spend MOP 16.5bn ($2.1bn), part of which it will inaugurate a new theatre to support world-class entertainment and an international food court. SJM’s non-gaming investment will amount to MOP 12bn ($1.5bn) and MGM will invest MOP 15bn ($1.9bn) for redesigning and upgrading existing facilities and develop year-round tourism services like exhibitions etc. The above news thus gives a look into the details of the investments that were planned given that the investment was already committed as part of obtaining their new licenses beginning January 2023.
Dollar bonds of Macau’s casino operators were trading flat.
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