Macao gave casino giant MGM China the official go-ahead on Wednesday to build a second casino in what is the world's biggest gambling center, sending shares in the company soaring 7 percent.

The $2.5 billion casino, to be built on the up-and-coming Cotai Strip, which houses rival casinos including Sands China, will feature 1,600 hotel rooms, 500 gaming tables and 2,500 slot machines, MGM China Holdings said.

China Daily - Agencies