Macao's 28th casino resort MGM Grand Macao Tuesday marked its debut with world class performances only a street away from Wynn Macao, another Las Vegas-style casino resort, intensifying the fierce competition in Macao's gaming industry.
The 154-meter hotel tower costing 1.25 billion U.S. dollars is a 50/50 joint venture between MGM Mirage of Las Vegas and Pansy Ho, daughter of the southern Chinese city's casino magnate Stanley Ho. The casino resort is also MGM Mirage's first in Asia.
The new resort, claimed to target high-end customers, boasts 600 rooms and a casino with about 385 gaming tables, 890 slot machines and 16 private gaming salons. It also includes convention space.
Built on the Macao peninsula, MGM Grand Macao is the latest casino resort to join in the fierce competition in the SAR's gaming industry, which started its rapid growth following the liberalization of Macao's gaming regulation in 2002.
Official statistics show that in the first three quarters of 2007, Macao recorded gaming revenues of 58.31 billion patacas (around 7.5 billion U.S. dollars), already more than last year's total revenue.
Source:Xinhua
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