As has been rumored for quite some time, it has now been conformed that Wynn Resorts is going ahead with its expansion on Macau’s Cotai Strip.
Wynn’s revenue almost doubled after it opened Wynn Macau, revenue surged 97 percent to $702.1 million, mainly because of the Wynn Macau casino that opened late last year, the Las Vegas-based company said today.
Wynn’s revenue was bolstered by table games such as baccarat and blackjack, where the company won money at a higher rate than the industry average during the quarter. Quarterly winning percentages of between 24 percent and 27.6 percent the past year.
Steve Wynn, the chief executive officer, said on a call with investors that the company will build an ‘expensive’ casino with at least 1,500 rooms on Macau’s Cotai Strip. It will compete with Las Vegas Sands Corp.’s Venetian Macao, which opened there with 3,000 rooms in August.
“We intend to build the most beautiful hotel on earth, period,” Wynn said.
