MGM China, the subsidiary of US-based casino group MGM Resorts International, has been given the green light to develop a new casino in Macau.
The company has been granted a land concession contract by the Macau government to develop a five-star resort and casino in Cotai.
With a budget of approximately $2.5bn, the resort will include 1,600 hotel rooms, 500 gaming tables and 2,500 slots. MGM China chairman Pansy Ho said the property will be a “spectacular resort.”
“Our Cotai property will demonstrate our continued commitment to contribute to Macau as it develops into an international tourism and entertainment hub, as well as a convention and meeting destination.”
Jim Murren, chairman and chief executive officer of MGM Resorts, said the destination resort represents a significant growth opportunity for MGM China.
