LAS VEGAS-based Wynn Resorts has signed a deal with the Macau government to build its second casino-resort in the SAR.
Wynn Resorts will fork out more than US$193 million for the 25-year lease of 51 acres (20.6 hectares) of reclaimed swampland in the Cotai strip, where an integrated resort will be constructed incorporating a hotel and casino, F&B outlets, as well as spa, shopping, entertainment and convention facilities.
Wynn Resorts founder Steve Wynn is hoping the property will be open by 2015, and will feature 1,500-1,600 hotel rooms, about 500 game tables, and 1,300 slot machines.
The resort will compete with rivals on the Cotai Strip, including the recently opened Galaxy Macau (TTG Asia e-Daily, May 16), and the Venetian Macau.
Macau raked in US$23.5 billion in gambling revenue last year, a 58 per cent year-on-year increase. The SAR’s gambling sector is showing no signs of slowing down despite growing global economic uncertainty, skyrocketing 57 per cent in August compared to the year before.
