MGM China Wins Land Approval for Second Macau Casino
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MGM China Holdings Ltd., a venture between Pansy Ho and MGM Resorts International, won a land grant to develop a second casino resort in Macau.
MGM China has made an initial payment of 450 million patacas ($56 million) to the Macau government for the HK$20 billion ($2.6 billion) project which will be funded by loans and internal resources, the casino operator said in a statement to Hong Kong’s stock exchange yesterday.