Macau (MNA) – MGM Cotai may ‘see faster ramp-up in the premium mass segment following junket openings in the middle of 2018 and the introduction of the Mansion in September,’ an analysis by brokerage Morningstar said on Thursday.
The report also says that mass win per table per day in the property ‘will be 80 per cent of MGM Macau in 2018, which we view as realistic, given the stronger gaming market and better accessibility compared with Wynn Palace when it opened in 2016’.
Morningstar research was optimistic regarding the introduction of the resident show ‘Destiny’, which they say can enhance MGM Cotai’s non-gaming experience for customers and attract traffic.
Their analysis of MGM results released on late Tuesday highlights the over-expectation performance with ‘the fourth-quarter margin beat … due to the casino playing lucky’.
Morningstar assessment thus considers ‘the firm as fairly valued,’ in the market.