MGM breaks ground in Cotai

MGM China Holdings (HK:2282) broke ground for a $2.6 billion integrated resort in Cotai. The casino resort, scheduled to open mid-2016, will feature 1,600 hotel rooms and 2,500 slot machines and the company has applied to install 500 gaming tables. Wynn Macau and SJM are also constructing their first projects in Cotai.
MGM China Chairman Pansy Ho, daughter of Stanley Ho, said that while VIP volume growth has slowed, business has picked up since the Chinese New Year when high-rollers shied away from holiday crowds.  She has not seen any sign of a crackdown on junket operators.