Wynn Resorts Ltd. Is a company that has received a lot of good news as of late, with record earnings reported throughout the state of Nevada, a number that has not been reached in the history of the company within the state. However, upon this news, the company estimated number of recent announcements that show that they are looking to continue to grow, including offering new facilities within their current establishments, and the announcement of the new facility that will be built in Macau. The facility will reportedly cost upwards of $3.5 billion to build, including the possibility of opening it up sometime around the holiday season of 2016, which would put a 3 1/2 year build time on the operation.
The announcement was made by the chairman Steve Wynn, who confirm that a lot of stabilization work had been done on the site in which the resort was planned to be build on. The land was reclaimed land that was once a waterway between two different islands. The foundation will be as deep as the length of a football field, and is the first construction job before work is begun. The announcement came swiftly after excellent earnings reports were announced for the company, and it will be interesting to see if these reports were the reasoning behind the announcement at this time. The resort that they are planning to build is going to be roughly the size of the Bellagio, according to the reports that were later released. Steve Wynn went on to talk further about the planning that they have done for the resort, in the announcement.
“At the bottom of the escalator from that light-rail system, we have put a Doppelmayr gondola car that has music and is air conditioned. People will get into the gondolas and they go around the fountains into the hotel, looking at the fountains and down at our pool area while music plays and fountains dance,” Wynn said. “We are meeting in many, many new ways the challenge of our neighbors and hoping to get the folks in the other hotels to experience our own.”
It sounds as if they are going to be modeling the new $3.5 billion Macau resort off of some of their previously built resorts that have done well for the company. Steve Wynn has admitted that he admires the competitors that he has in China, but also went on to say that the competition will keep him at the top of his game. The public still hasn’t seen the full potential of what they are going to offer, and many more announcements about the property are expected to be made at some point here in the near future. The Las Vegas casinos have had double-digit increases in revenue over 2011, which has allowed the company to seek out additional investment opportunities in order to grow their company.
It will be interesting to see if the company is going to be able to capitalize on the Macau region, a region that has continually grown in gambling presence in recent years, and continues to be a popular choice of expansion areas for casinos.