News Summary: Wynn casino in Macau to cost $4B

The Associated Press

BETTING BIG: U.S. casino magnate Steve Wynn plans to spend $4 billion building his long-awaited second Macau resort.

SPECIAL PLACE: Wynn shrugged off economic worries, saying China is "one of the more stable stories at the moment," especially its gambling enclave. More than 70 percent of his company's $1.3 billion profit in the first quarter came from its existing Macau casino.

HUGE RESORT: The project has received government approval and will include 2,000 hotel rooms, 500 gaming tables, 10 restaurants, shops, a spa, meeting rooms and a nightclub on 51 acres of reclaimed swamp.