14.022018MGM Opens a Multibillion-Dollar Casino Resort
MGM Resorts is opening a stylish multibillion-dollar casino in Macau in the recent big move by foreign gaming firms on the attractive southern Chinese gaming haven.
The launch of the 3.5 billion dollar Cotai resort is a skyrocketing-stakes bet on the casino souk’s future in the previous Portuguese colony, where betting licenses expire after two years.
The First Resort on Cotai Strip
MGM Cotai is the second resort in the tiny Chinese commune but the pioneer on the lavish Cotai Strip, a Chinese version of the famous Las Vegas Strip that is the heart for extravagant new casino development projects.
The resort opened right on time for the busy seven-day long Lunar New Year festival that starts on Friday when Chinese tourists often flood the small commune.
James Murren, the MGM CEO, said the firm was taking a “bound of faith” that the state will extend the license even though officials haven’t confirmed this.
Better Late Than Never
The launch was delayed by the calamity from Hurricane Hato in August, which saw 10 people lose their life. The majority of the structure’s triangular glass panels still showed cracks caused by the typhoon’s high winds but the officials say it is safe since it’s only the outer part that was affected.
Highlights of the resort include a 13 million dollar art collection including an orb-shaped Swarovski gem chandelier, haute couture dresses lobby decorations, and 28 Qing Dynasty Carpets.
There are also celebrity chefs, theater shows, and luxury shops included. The inner part is covered by LED screens showing various arts such as “green walls” growing rare plant species and rice paddies at dusk.
Macau is the globe’s biggest gaming market and the only area in China where casinos are licensed to operate. The license last for 2 years.
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