MGM China’s President and Executive Director says that American-backed gaming operators in Macau are “very local companies”.
When questioned by CNBC’s Emily Tan on how rising geopolitical risks might be affecting the company, Kenneth Feng affirmed that “we do not receive any particular pressure”.
Despite MGM China, Sands China and Wynn Macau having US-based parent companies, Feng noted the commitment to local employment that they have, citing that 70 percent of MGM’s 14,000 employees are locals, while the remainder are mostly from mainland China.
The executive furthered that the company has committed over $2 billion over this decade and that the company is “trying to help the government to diversify the economy”. He noted that this, including CSR and local outreach programs means that “we are going to win the trust from every party”.
Questioned about the NBA event that was held at the Venetian, Feng noted he was “glad that other operators are bringing more quality events”, noting that “they are delivering their commitments as well”.
MGM’s Cotai property does host a 3,000-seat highly adaptable theater, which has been featuring a variety of shows and events, focusing more on its niche market.
“As long as we’re bringing these kind of quality events, it will bring in more quality visitation, it will bring in more quality visitors,” the executive stated.
When asked about the possibility for future large-scale sporting events, Feng assured it is possible, but “we need to make sure these kind of events have to be meaningful, has to be sustainable, that people want to watch”.
Feng also noted the small scale of Macau compared to other gaming hubs such as Las Vegas, noting that it is possible to walk between properties on the Cotai Strip, allowing for events held at competing properties to still benefit all six operators.
