MGM Cotai should produce $220 million in earnings
May 15, 2017 10:38 AM
by Robert Mann
Fitch Ratings, one of the “Big Three” credit rating agencies in the world, says in a just released note to investors that MGM Cotai should produce $220 million in earnings before interest, taxation, depreciation and amortization (EBITDA).
MGM Cotai is set to open in the last quarter in 2017 at a cost estimated at $3.3 billion.
Las Vegas-based MGM Resorts is continuing a worldwide expansion that includes MGM National Harbor near Washington D.C. which opened in December and MGM Springfield set to open in 2018 in Massachusetts.
MGM’s Cotai Strip resort features 1,400 hotel rooms, a luxury spa, high-end retail shops, and 500,000 square feet of gaming space. Other recent resort openings in Macau include MGM Cotai’s adjacent neighbor, Wynn Palace, with a cost of $4.2 billion and more than 1,700 rooms and the Parisian Macao, Las Vegas Sands’ newest property with 3,000 rooms.