MGM secures US$3bn credit for Macau project

MGM secures US$3bn credit for Macau project

Company secures funding for continued expansion

Company secures funding for continued expansion

MGM Macau
MGM Macau

MGM China has agreed a new credit facility that will enable the company to continue with plans to develop its new integrated resort on Macau‘s Cotai Strip.

The group has confirmed a new US$1.55 billion loan – a US$550 million increase compared to the existing facility – and US$1.45bn revolving credit facility, offering a total of US$3bn credit to fund the company’s continued expansion in Macau.

“We are very pleased with the support from our lenders which allows us to upsize the credit facility to US$3bn,” said MGM China’s president & CEO, Grant Bowie. “This financing will be used for general corporate purposes and will provide our company the financial flexibility to continue to invest in MGM Macau and develop MGM Cotai.”

MGM currently operates one hotel and casino in Macau, but is also developing a huge new integrated resort on the Cotai Strip, which is expected to include 1,600 hotel rooms plus gaming, F&B, retail and entertainment offerings.

Mark Elliott
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Mark Elliott
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Hotel & Spa