MGM China has announced plans to refurbish its MGM Macau hotel and casino at a cost of US$100 million. The announcement came only hours after MGM China Holdings Ltd released its financial report for the fourth quarter of 2014.

The financial report showed net revenue of US$718.7 million for the fourth quarter of 2014, a drop of 22% compared to the same period in 2013. 75% of gambling operators’ EBIDTA was attributed to mass players, 60% higher than the same period in 2013. This large increase was attributed to a rearrangement of gaming tables on the main casino floor.

Grant Howie, CEO of MGM China, has said that the refurbishment will focus on the main casino floor, improvement in operating efficiency and upgrades to the flow of traffic. Within the complex, the company also plans to launch numerous non-gaming products including fifteen stores and new eateries. The activities in the casino will continue throughout the refurbishment.

MGM Macau began refurbishments in 2014 with US$45 million spent at that time. There are 27 separate projects included in the refurbishment plan for the complex and these are expected to be carried out over a period of three years. The latest project is expected to begin in the third quarter of 2015.

At the same time, MGM China is busy with the construction of a second property in Macau. The MGM Cotai which will be located on the popular gambling strip, Cotai Strip, is scheduled to be completed in the second half of 2016. The building project was estimated at US$2.9 billion.

Mr Howie stated that MGM China plans to remain competitive in a continually growing and changing market and that they will continue to invest and build to maintain that goal.