Wednesday, October 4, 2023

Tag: Wynn Resorts

Wynn warns of iGaming gold rush

Wynn warns of iGaming gold rush
Global Betting and Gaming Consultants director Warwick Bartlett cautions departing Wynn Resorts CEO Matt Maddox’s recent comment on the amounts US operators are spending to acquire iGaming customers could be the canary in the coal mine of what is to come.

Wynn optimistic as quarterly loss narrows

Wynn Resorts Q2 financials
Wynn Resorts began to chart a recovery in Q2 with the operator’s US properties in Las Vegas and Massachusetts reporting EBITDA records during the quarter.

Bidders ready to present plans for Chicago casino to Windy City public

Bidders ready to present plans Chicago Casino
With industry commentators raising concerns about the high bar represented by the $1bn potential investment combined with the city’s tax rate, MGM and Wynn Resorts have already opted to pass on Chicago’s request for proposals process.

US casinos emerge from the pandemic

US casinos Andrew Klebanow comment
Andrew Klebanow, principal at Klebanow Consulting, discusses how COVID-19 has seen US casinos modify their marketing strategy, with many operators achieving substantially higher net income on lower business volumes

Nagasaki RFP moves forward

Nagasaki RFP
The five groups which took part in the prefecture’s RFP have qualified for the next stage of the process. Meanwhile, Wynn Resorts has said it is still interested in pursuing a casino licence in Japan, however the US-based operator won’t be participating in Yokohama’s RFP process.

Chicago looks to attract Las Vegas operators

Chicago looks to attract Las Vegas operators
Chicago’s mayor Lori Lightfoot is optimistic that a number of the participants in its request for proposal process for a casino resort in city “will have Las Vegas addresses”.

Matt Maddox: ‘We are confident that travel and tourism will recover in the US and China’

Wynn Resorts financials
Following a challenging Q1 in the US and Macau, Wynn Resort’s chief executive affirmed that the company remains well positioned to ride out the coronavirus crisis, highlighting that it retains $3.4bn in liquid assets.

Sin City prepares to put safety over style

Sin City Las Vegas lockdown reopening health and safety
Once lockdown is lifted Las Vegas may look a little different, with operators up and down the strip preparing for an overhaul of health and safety measures in light of the global pandemic and increased expectations from customers

Yokohama continues to attract interest from major international operators

Japan Yokahama
While the casino bribery scandal has come as a further blow to public support for the Liberal Democratic Party’s plans to bring integrated resorts to Japan

Georgia’s legislature doesn’t have casinos on its mind

Atlanta Georgia Peach State
A bill by state representative Ron Stephens which would have opened the door to a referendum on casino resort legalisation in the Peach State hit a setback

Mohegan Sun makes a play for Wynn Resorts’ Everett Casino

Mohegan Sun, Wynn Resorts, Everett, Casino, connecticut
Mohegan Sun has expressed its interest in acquiring Wynn Resorts’ $2.5bn Encore Boston Harbor project if the latter is found unsuitable to hold a casino licence following an investigation by the Massachusetts Gaming Commission. Connecticut-based Mohegan Sun has set out its stall in a bid to buy the $2.5bn Encore Boston Harbor development, as Wynn Resorts awaits the outcome of...

Wynn Resorts looks to get out of the bunker in Las Vegas

Wynn Resorts Las Vegas macau Paradise Park development financial
Wynn Resort Q3 figures were boosted by a solid performance in Macau, while in Las Vegas the company has opted for a new 18-hole golf course over Steve Wynn’s vision for the $3bn Paradise Park development. While Wynn Resorts reported a 10 percent increase in operating revenues year-on-year for Q3 2018, the quarter was a tale of two halves for...

Wynn Resorts names Phil Satre chairman

ICr - Wynn Casino Las Vegas 35 acre CBRE resorts
Wynn Resorts has named Phil Satre vice chairman of the company. Satre is expected to to be named chairman of the firm by the end of the year, after D. Boone Wayson steps down as chairman. Watson will remain on as a board member. It is reported that Satre, CEO and chairman of Harrah’s Entertainment, will be stepping down from his...

MGM Cotai opening will see ‘a level of cannibalisation’

Glenn McCartney mgm cotai
  Glenn McCartney, Associate Professor in International Integrated Resort Management at the University of Macau, considers the prospects for MGM Cotai and discusses the effect of concession expiration on the territory's operators.   International Casino Review: What is your view on the MGM Cotai opening - how will it impact the Cotai Strip and is there a risk of cannibalisation at the...

Can’t Wynn them all: Wynn Resorts underperforms despite Macau rebound

Casino Review Wynn Palace Macau wynn resorts
Wynn Resorts second quarter revenue and adjusted earnings showed softer than expected mass-market results for its Macau business.   The company’s global operations - including Las Vegas and Macau - generated net revenues of $1.53bn for the second quarter of 2017, up 44.5 percent compared to $1.06bn in the same period a year earlier. However Wynn Resorts’ new Macau venue, the $4.3bn...

From Macau to Massachusetts: Wynn Boston Harbor to open in 2019

Casino Review Wynn Boston Harbor
After clearing the final regulatory hurdles, Wynn Boston Harbor is set to open on June 3, 2019. James Walker reports.   On October 26, just two months after Wynn Resorts cut the ribbon on its latest Macau leisure project, Wynn Palace, the group received news that Wynn Boston Harbor, the $2.1bn (E1.9bn) casino and hotel complex being built along the banks...

Wynn reveals date of Boston Harbour casino launch

Casino Review, Wynn Resorts, Boston Harbor casino
Wynn Resorts’ new $2.1bn (€1.9bn) Boston Harbour casino is set to open in June 2019 after clearing regulatory hurdles. Executives of the US casino operator confirmed the date with the Massachusetts’ Gaming Commission on 18 August.   President of Wynn Boston Harbor Robert DeSalvio said construction is under way at the Everett site, with the company planning on hiring 250 workers...

A piece of Paradise: Wynn unveils new vision for flagship Vegas resort

Paradise Park Wynn
Blueprints for Paradise Park – a brand new $1.6bn lake resort off the Las Vegas Strip – have been revealed by Wynn Resorts, with analysts predicting that the development could bring in over $400m in additional annual revenue for the company. Billionaire casino mogul Steve Wynn has unveiled plans to convert the Wynn Golf Club in Las Vegas into an enormous...