Almost a month after unveiling the final designs for a planned $2 billion expansion of its Wynn Macau property and casino operator, Wynn Resorts Limited, has reportedly announced that it hopes this scheme will eventually help to ease pressure on its nearby Wynn Palace Cotai venue.
According to a report, this revelation came from Matt Maddox (pictured), Chief Executive Officer for the Las Vegas-headquartered behemoth, during a Tuesday conference call with investment analysts to discuss the firm’s second-quarter financial results.
Maddox reportedly divulged that work on the steel-and-glass expansion dubbed the ‘Crystal Pavilion’ is scheduled to start by the end of 2021 and will involve the construction of a 650-room hotel on a site just to the south of the existing Macau property. He purportedly declared that this initial structure, which could begin welcoming guests as soon as 2024, is to offer no new gaming facilities but will feature a theater, art museum and a ‘destination food hall.’
The executive reportedly told the analysts…
“It’s clear that we need more rooms at Wynn Palace Cotai. Our hotel is full. On the weekends, we’re turning away customers that we do not want to be turning away.”
GGRAsia reported that the coming facilities have been designed to complement the ongoing $125 million renovation of Wynn Macau in order to make the Macau Peninsula property less VIP-centric. It explained that this refurbishment is expected to be finished by the conclusion of 2019 and will have involved reconfiguring the venue’s Encore Hotel Tower and west casino alongside the construction of a trio of new restaurants and some 8,000 sq ft of retail space.
“We think that the ‘Crystal Pavilion’ project will be attractive to a much broader audience. We expect over ten million visits to the ‘Crystal Pavilion’ on an annual basis. Premium mass will be in the new hotel and we think that we’ll get significant incremental visitation from the core mass players with the project.”
Wynn Resorts Limited earlier reportedly revealed that it plans to follow up the ‘Crystal Pavilion’ project by eventually building a similarly-sized structure for the opposite side of Wynn Macau. When this second scheme is completed, the operator purportedly stated that guests will be able to enjoy an additional hotel offering some 650 rooms alongside gardens, interactive sculptures and a performance space.
Wynn Macau was opened at a cost of around $4.2 billion in August of 2006 and currently offers a little over 1,000 rooms alongside a salon, eight restaurants, two spas, retail space, a pool and a trio of entertainment experiences. As if all of this wasn’t enough, it disclosed that the property furthermore comes complete with a 273,000 sq ft casino featuring around 375 slots as well as about 500 gaming tables.