Wynn To Start Construction On New Macau Casino
Property Would Be His Second Full-Scale Casino There
Steve Wynn’s casino empire is about to expand, as the chairman and CEO of Wynn Resorts Ltd. announced in a recent conference call with analysts that construction on a new property in Macau will begin this week, the Las Vegas Review-Journal reported Thursday.
The project calls for a $4 billion resort casino dubbed Wynn Cotai, which will take three years to lift from the ground in the former Portuguese colony. Macau is the top gambling market in the world, far outpacing a slowly recovering Las Vegas Strip.
Wynn already owns gambling operations on the Cotai Strip. His Wynn Macau opened in 2006, while an expansion for it — the Encore — opened four years later.
Plans for a second full-scale Macau casino originally called for a $2.5 billion investment.
Wynn also recently received a favorable decision in a civil suit over a $135 million donation made to the University of Macau’s Development Foundation in 2011.
Wynn Resorts competes with Las Vegas Sands Corp. and MGM Resorts International for gamblers willing to dust off large sums of money in the region.
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