Macau is one of the most lucrative gambling markets in the world – a fact which has not gone unnoticed by MGM, the owners of the extravagant ‘shipping container’ MGM Cotai casino.
Widely described in popular culture as the ‘gambling capital of the world’ and the ‘Monte Carlo of the East’, Macau’s betting and gaming industry is vast, surpassing even Las Vegas in terms of revenue, with visitors coming from all over the world – but especially from nearby mainland China – to participate in high-stakes wagering.
Playing a central role in this economy is the Cotai Strip, a section of the city containing several luxury hotels and casinos, such as The Londoner Macau, Galaxy Macau, Wynn Palace, and the subject of TheRichest’s recent video – MGM Cotai.
Although described by some as ‘looking like a bunch of shipping containers stacked on top of each other’, MGM Cotai cost over $3.4 billion to construct and features a range of gambling facilities as well as luxury hotel rooms and restaurants.
The 35 story resort sits on Macau’s Cotai strip consisting of two interconnected towers, with a huge 33 foot, 35 tonne gold lion statue guarding the entrance, constructed of 32,000 sheets of 24-carat gold foil.
MGM Resorts International made $12 billion revenue in 2019, a significant amount of which was generated by MGM Cotai, where baccarat table limits are as high as $260,000, in comparison to most casinos in Las Vegas, which implement a typical table limit of $10,000.
The multinational entertainment conglomerate’s regional subsidiary, MGM China, earned over $1.4 billion from mass market gaming in 2018, as well as $1.2 billion from VIP gaming and a huge $285 million from slot gaming in the same year.
Overall, the entire MGM Cotai resort is 280,000 square metres in total, with the casino section of the venue taking up 46,451 square metres, whilst offering over 1,500 gaming machines and 175 table games to its customers.
Source – TheRichest YouTube Channel