HONG KONG (AP) — The Chinese arm of U.S. casino company MGM Resorts International has won official approval for its new casino-resort in the world's most lucrative gambling market, Macau.
Notice of MGM China's plan to build a $2.5 billion resort in the Cotai district was published Wednesday in Macau's official government gazette.
The announcement means the Las Vegas-based company has cleared another hurdle as it races to build a second casino to compete with rivals in the Asian gambling hub. The company said in November that it had received a long-awaited land concession for the project.
MGM China plans a five-star, 1,600-room hotel with 500 gambling tables and 2,500 slot machines. The company is a joint venture between MGM Resorts and Pansy Ho, daughter of Macau casino kingpin Stanley Ho.
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