The Wynn Palace resort, a venue currently under construction in Cotai, was set to open on the 25th of June, after changing from a previously scheduled March 25th opening date. The venue is now likely to push back opening again, to August, based on reports from Steve Wynn.
Steve Wynn is the Wynn Macau Ltd and Wynn Resorts Ltd Chief Executive and Chairman who announced that the resort is now more likely to open in August rather than two months earlier in June. During a Las Vegas investor presentation earlier this week, Wynn stated that the hope was that Wynn Palace would be ready in July or perhaps the first week of August. August 8th is on the table for opening, sort of lucky numbers, stated Wynn.
The number eight is considered a lucky number of sorts in Chinese culture as it represents prosperity and wealth and sounds like the word for ‘becoming rich’ in the Chinese language. Back in December, Wynn stated that the main contractor of the Wynn Palace project was not going to be able to meet the deadline set for the 25th of June and they would be liable for the $1.5 million a day penalty.
Wynn Resorts President Matt Maddox has stated that the firm expects the tower of Wynn Palace to be fully back by June and construction should be completed in July. The tower would then be turned into a campus and staff trained so opening could begin in August.
During the presentation on Wednesday, Wynn Resorts announced that the capital expenditure of Wynn Palace through the month of February came to a total of $3.63 billion with $469 million left to spend on the project.