Wynn Palace in Cotai to open before Chinese New Year in 2016
Wynn Resorts Chairman and CEO Steve Wynn announced that is planned US$ 4 billion resort on Macau’s Cotai Strip will be named Wynn Palace.
Wynn also said negotiations had been completed for a guaranteed maximum price of the resort of just under US$ 4 and for a construction schedule that would have the property open before Chinese New Year 2016, which that year would be Feb. 8.
In February this year, the company began pre foundation work. During the quarter, the company invested US$ 113.3 million on the new property.
Wynn said the new property would have a floral theme with colorful floats adorning the resort and changing monthly.
“Our resorts have always had a special public entertainment piece with an erupting volcano (at the Mirage), a pirate ship battle (at TI) and dancing waters (the fountains at the Bellagio),” Wynn said. “The theme will be flowers at our new resort.”
Wynn said Wynn Palace would be reminiscent of the Bellagio, in Las Vegas, with a lake at the front entrance lined with restaurants. He said an aerial tram transport system with gondolas resembling smoke-breathing dragons would carry customers from the light-rail station to the 2,000-room hotel.
Flower gardens in various shapes and themes, such as hot-air balloons, will be spread throughout the property. The gardens would rise to various heights on elevated pedestals, he said.
Wynn already has two resorts, Wynn Macau and Encore, on Macau’s peninsula. Those properties have 500 table games — 285 dedicated to VIPs, 205 for mass-market play and 10 poker tables — and 884 slot machines.
Meanwhile, Wynn Macau, reported a 3 percent increase in second-quarter profit.
Net income for the three months ended in June rose to US$ 227.3 million from US$ 220.6 million a year earlier, according to a statement posted on Hong Kong stock exchange.(macaunews)
I think it helped that Wynn got it's development approval before MGM and SJM were able to get theirs.
It gave them a jump on securing whatever construction manpower may have been available 14 months ago.