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by MIchael C. Lowe | October 24, 2012

 MGM China Holdings Ltd., a subsidiary of MGM Resorts International, has received approval to develop a $2.5 billion, 1,600-room luxury gaming resort in Cotai, Macau. The company already has paid the Macau government some $56 million as the initial payment of the contract premium. Property details include 500 gaming tables and 2,500 slots that, combined with the hotel and other resort areas, will cover about 18 acres.