News Summary: MGM China lands $2.5B Macau casino
FEELING LUCKY: The Chinese arm of MGM Resorts International signed a deal for a new $2.5 billion casino resort in Macau, the world's biggest gambling market.
IN THE CHIPS: The company plans to build a casino resort that will include a five-star 1,600-room hotel, 500 gambling tables and 2,500 slot machines, MGM China said in a statement.
JACKPOT: Macau's casino revenues have rocketed since it opened gambling to foreign operators about a decade ago. The former Portuguese colony raked in $33.5 billion in gambling revenue last year, over five times the amount earned on the Las Vegas Strip.