MGM Closer To Starting Construction Phase Of New $2.5 Billion Macau CasinoMassive Property Could Take Up To Three Years To Build |
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MGM Resorts International announced last week that it’s closer to starting the construction phase of its new casino in Macau, which will be its second casino-resort there.
The deal that gives the casino developer the land needed for the project is good to go.
Jim Murren, CEO of MGM Resorts, said in a statement: “Now that the official transfer of real estate in Cotai has occurred, we will focus our full energies on the commencement of construction of our Cotai resort and casino. Our design is in its advanced stage and will bring a new level of excitement, sophistication and entertainment to Macau.”
According to MGM, the budget for the casino-resort is $2.5 billion. It will have about 1,600 hotel rooms, 500 gaming tables and 2,500 slot machines. Additionally, the property will contain restaurant, retail and entertainment venues. Construction is estimated at three years.
Macau currently has 33 casinos and is the top gambling market in the world.
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