Macau continues to boom

Macau continues to boom

Friday, 19 October 2012

Macau’s poker scene is officially set to receive a boost in the next few years as MGM’s plans for a $2.5 billion resort have just been approved.

MGM Resorts, operating through their MGM China subsidiary, applied to the Macau government for planning permission to build a new resort in the Cotai region some time ago. Having been formally granted, the licence will allow the company to construct a hotel and casino with 1,600 rooms, 2,500 slot machines and 500 gaming tables. On top of this will be a plethora of shops, restaurants and leisure facilities.

Following the approval, MGM Resorts paid an initial fee of $56 million to the government, something which will allow them to begin construction as soon as the land concession contract is published.

In total the project is expected to take around 36 months, by which time the complex is expected to add yet another crinkle to the already rich tapestry of gambling and poker outlets in the Asian city.

Commenting on the recent news, MGM Resorts Chairman Jim Murren said:
“This destination resort represents a significant growth opportunity for MGM China. The project will fully demonstrate our strengths in terms of design and branding, quality of service, and thoughtful diversification of product offerings.”

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Tags: Macau, MGM