MGM Opens New $3.4 Billion Resort in Macau
- Latest integrated casino resort on Macau’s Cotai opens Tuesday
- Macau may face challenge as China mulls allowing Hainan gaming
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MGM Resorts International’s debut of its $3.4 billion property Tuesday is the latest bet on the world’s biggest casino hub, as licensing bids and China’s proposal to allow gambling on a nearby island cast uncertainties over Macau’s future.
MGM is among the last of the operators to develop on the family-friendly Cotai strip, following Wynn Resorts Ltd.’s Wynn Palace and Las Vegas Sands Corp.’s Parisian. The resort’s opening this week capitalizes on the booming tourism demand during the Chinese New Year holiday that’s seen rooms at major hotels fully booked with increased rates.