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Macau casino operator MGM China Holdings has already hired consultants and designers over plans to add hotel rooms and “wellness” services to MGM Kotai Casino Resort, business news service Bloomberg News reported on Wednesday (pictured).

The outlet cited people familiar with the matter who could not speak on record.

Shortly after MGM China confirmed a new 10-year Macao gaming contract in December 2022, the company’s chairman, Fancy Ho Chiu King, mentioned non-gaming investment commitments related to concessions during a press briefing, many of which were commitments to MGM Kotai.

The latter has a larger footprint than MGM Macau, a 600-room sister accommodation on the urban peninsula.

Among the pledges is the “Urban Oasis,” described as a “totally new landmark of health and wellness tourism.” 카지노사이트 모음

At the time, the company said it would “provide a one-stop service that combines wellness and healthcare, including medical hydrotherapy, diet, leisure and healthcare, medical tourism, and health evaluation.”

The casino company also confirmed plans to add a hotel tower to its 1,390-room MGM Kotai, which opened in February 2018.

The Macau government has asked to increase the amount of non-gaming amenities provided by six casino concession companies under the terms of new concessions that began in January 2023. Macau is trying to free itself from its reliance on high-risk casino gambling as part of the Macau government’s economic diversification plan.

MGM China’s casino market share is improving even as the local government’s policy focus shifts to non-game tourism.

On May 2, at the time of its first-quarter earnings report, the casino operator said Macau’s total game sales market share had “increased further” in the three months to March 31, compared with 15.2% a year earlier and 9.5% in 2019.

Part of this market share growth was due to the large number of game tables allocated to MGM China as part of the new concessions.

In other news, MGM China’s filing on Wednesday identified prices and net proceeds from its newly announced $500 million issue of senior unsecured bonds.

The casino company said on Tuesday it had signed acquisition agreements with BofA Securities and Deutsche Bank AG’s Singapore branch as representatives of early professional investor buyers.

The bond offers a coupon of 7.125% and expires on June 26, 2031.

MGM China said net proceeds would be approximately $493.1 million after deducting discounts and other expected offering costs from early buyers.