MGM Resorts opens $3.4 bln casino in Macau as revenues boom

MGM Resorts opens its $3.4 billion casino resort in the Chinese-controlled territory of Macau on Tuesday, just days ahead of the Lunar New Year holiday, hoping to ride a boom in business in the world's biggest gaming hub. MGM Cotai, which will more than triple the number of MGM's hotel rooms in the former Portuguese colony to 1,972, marks a major expansion into hospitality amid uncertainty over the renewal process of its casino license that expires in two years. The new resort, MGM's second and the biggest investment in Macau, boasts a 2,000-seat theatre and artwork including 28 carpets from the Qing dynasty.