MGM Cotai targets upper-end mass market

|By:, SA News Editor

Shares of MGM Resorts (NYSE:MGM) are higher in premarket trading after the company opens the long-awaited MGM Cotai in Macau. The opening was delayed four times.

The bright lights of the MGM Cotai were turned on just in time for the Chinese New Year, a timing seen as important for MGM China's (OTCPK:MCHVF, OTCPK:MCHVY) Q1 earnings

The extra boost in traffic to Cotai is expected to also be a positive for Wynn Palace (NASDAQ:WYNN) and the Parisian (NYSE:LVS).

"I believe we have created a resort that exactly targets the market that’s the fastest growing today -- the upper-end mass market," says MGM CEO James Murren.

MGM Resorts +1.51% premarket to $33.70. MGM China closed up 0.70% in Hong Kong.

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