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Gaming

MGM Resorts to jointly increase international visitation to Macau casinos

Monday 03 de April 2023 / 12:00

2 minutos de lectura

(Macau).- Macau gaming concessionaire MGM China has inked a new agreement with its majority shareholder, MGM Resorts International, under which the latter will be tasked with helping source more international customers for its Macau properties.

MGM Resorts to jointly increase international visitation to Macau casinos

Under the new International Marketing Agreement, which replaces the previously signed Sixth Renewed MGM Marketing Agreement, MGM Resorts will establish a number of new global marketing offices – the costs of which will initially be borne by MGM China – aimed at further diversifying the company’s Macau customer base.

The offices as a whole, including those already in operation, will be overseen by a Special Manager, named as MGM Resorts’ current President Far East Marketing, Sean Lanni.

In a Friday filing, MGM China said the new agreement with its parent company is specifically designed to address the Macau government’s directive to diversify the Macau economy and reduce its reliance on customers from mainland China, Hong Kong and Taiwan.

For the purpose of fulfilling its obligations under the New Concession Contract, and pursuant to the commitment by [MGM China] to the Macau Government to expand overseas markets and to increase the growth of non-gaming revenue, [MGM China] desires to utilize the know-how and international resources and reputation of MGM Resorts International and its designated affiliates to conduct marketing activities via [its] existing and future Marketing Offices that will result in additional international customers visiting the Macau Properties for non-gaming attractions and also casino gaming,” it said.

“The changes brought by the International Marketing Agreement include putting in place Macau leadership, a Macau based sales and service support team, as well as new sales incentive plans and more aggressive targets.

In summary, the benefits of entering into the International Marketing Agreement include providing [MGM China] (i) the ability to quickly bring on new hires in overseas markets to grow sales resources by making use of existing marketing offices, processes and set up; (ii) a more cost-effective way to establish an international sales network than building marketing network independently; (iii) with greater influence over the day-to-day operations of the Marketing Offices in order to drive a greater volume of business overall to both [MGM China] and [MGM Resorts]; and (iv) ultimately, the resources to reach its KPIs arising from the New Concession Contract.”

Under the terms of the initial three-year agreement, MGM China will pay expenses to MGM Resorts up to a capped maximum of HK$64 million in 2023, rising to HK$82 million in 2024 and HK$113 million in 2025.

MGM Resorts holds a 55.95% stake in MGM China.

This latest agreement comes as the Macau government continues to push for greater diversification of the industry, including an initiative calling for concessionaires to establish foreigner-only gaming zones in return for tax breaks of up to 5%. As previously reported by Inside Asian Gaming, a number of concessionaires have already established or are in the process of establishing these new foreigner-only zones with their Macau casinos.

By Ben Blaschke

Categoría:Gaming

Tags: MGM Resorts,

País: Macao

Región: Asia

Event

SBC SUMMIT RIO 2024

05 de March 2024

Andre Gelfi explains the new regulation in the Brazilian gaming and betting market

(Rio de Janeiro, SoloAzar Exclusive).- The Managing Partner of Betsson group in Brazil, Andre Gelfi, was another key figure present at the inaugural SBC Summit Rio. In this exclusive interview with SoloAzar, he shared insights about the gaming and betting market in Brazil. Gelfi emphasized the hot topic of Brazilian regulations for the iGaming industry. In fact, he expressed his anticipation that the regulation, expected to be approved this year, will create a new landscape in the Brazilian market

Wednesday 27 Mar 2024 / 12:00

Influencers: "Between Effectiveness and Responsibility in the Gaming Industry".

(Rio de Janeiro, SoloAzar Exclusive) - As part of the Conference "Influencers: The Next Frontier of Social Media Marketing", as part of the Conference Agenda held on 6 and 7 March at the SBC Summit Rio 2024, leading industry personalities gathered in a panel to discuss the impact of the power of celebrities and influencers in generating engagement, as well as the proposed law that seeks to restrict their promotion of gambling.

Wednesday 27 Mar 2024 / 12:00

Pay4Fun: “We have ambitious expansion plans in the Brazilian market”

(Rio de Janeiro, SoloAzar Exclusive).- Leonardo Baptista, CEO and co-founder of Pay4Fun, is a key figure in the world of iGaming. His company, Pay4Fun, is a leading Brazilian online payment provider specializing in the iGaming market. During the first edition of the SBC Summit Rio, Baptista spoke exclusively with Soloazar, sharing insights about the new services that Pay4Fun will introduce to the market. He also discussed his vision for the future of iGaming in Brazil and Latin America. Another unmissable note by SoloAzar.

Wednesday 27 Mar 2024 / 12:00

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