The first phase of building on Cotai in Macau is nearly complete, and we're entering a period of constant gaming supply in the next three years. Today, crews are already working on Phase Two of Cotai's expansion, and some new entrants are eagerly entering this hot market. Wynn Resorts (WYNN -0.45%) is building its first Cotai resort, and MGM Resorts (MGM 1.21%) is hoping to get going soon. They'll join Las Vegas Sands (LVS 0.07%) and Melco Crown (MLCO 1.51%), which have a presence but are also eyeing expansions.