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MGM China is gonna hit the jackpot in 2018, on a gamble on the mass market in Macau. In the last 12 months, growth in VIP business has been driving revenues in Macau. But in the year ahead, it's gonna be the less wealthy mass-market who brings the money. You might think that casino operators prefer the high rollers, but the mass market is growing quickly, and they're spending more.
In the last quarter, the average visitor to Macau accounted for more than a thousand US dollars of spending. That was up by 17% from a year earlier. There's also more of them, because new infrastructure, like a giant bridge and a new ferry terminal are providing more ways for people to get into Macau.
And the middle classes in China, who account for most of the visitors, have more disposable income to spend on holidays, so they're going away more often and staying away for longer. This is gonna be especially beneficial for MGM China, because the company is just about to open a new property in Macau that targets the mass market.
And with these trends, rising visitor numbers, and more spending, and so on, the company will be able to ramp up business at that new property, far more quickly than other companies in the last few years. If MGM China's new property manages to ramp up business quickly, taking advantage of these new trends, then the company could eventually be able to double its revenue in Macau.