August 22 saw the official opening of the Wynn Palace on Macau’s Cotai strip.
[dropcap]A[/dropcap]t a total cost of $4.2bn (E3.7bn) the Wynn Palace is to date the most expensive venture of Las Vegas casino mogul Steve Wynn’s career.
Facilities at the Wynn Palace include 1,700 luxury suites, over $125m (E111m) worth of fine art, a luxury spa and a performance lake complete with air-conditioned touring gondolas.
In terms of gambling facility, the government of the SAR have allocated just 100 tables to the new property – with scope to award an additional 50 in the next two years. Wynn has indicated that he plans to transfer 250 tables from its existing Wynn Macau resort to offer a new total table count of 400 – with 60 tables dedicated to VIP-play.
It will be here forever and it’s perhaps unlikely we’ll see a place of this scope and artfulness in our lifetimes again.
At the opening ceremony Wynn heralded the Palace as: “arguably the most beautiful hotel in the world.”
“It’s our gift to the community, to the public,” he added. “It will be here forever and it’s perhaps unlikely we’ll see a place of this scope and artfulness in our lifetimes again.”
In marked contrast to its local competitors, second quarter financials from Wynn Resorts actually showed an upturn in the company’s Macanese operations. Revenue at the Wynn Macau resort grew by 3.6 percent in the three months to June 30 – the product of a significant (12.7 per cent) rise in mass-market business.