Summary Box: Wynn Macau gets OK for Cotai casino

Summary Box: Wynn Macau gets government approval for Cotai casino development

Associated Press

THE NEWS: The Chinese arm of Wynn Resorts Ltd. received government approval for a new casino in the Cotai district of Macau, the world's most lucrative gambling market.

THE DETAILS: The casino-resort, set on 51 acres, is expected to feature 2,000 hotel rooms and space for conventions, shops, entertainment and restaurants.

THE STAKES: U.S. billionaire Steve Wynn, the founder, chairman and CEO of Wynn Resorts, called the Cotai development the "single most important project" in his company's history.

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