Wynn to spend $2bn on non-gaming Pavilion at Wynn Palace
Monday 15 de July 2019 / 03:02
2 minutos de lectura
(Macau).- Wynn Macau has published plans for $2bn expansion at its Wynn Palace casino on the Cotai peninsula in Macau.
Building work will begin on the Crystal Pavilion complex in 2021, with an opening set for 2024. It will be built adjacent to the Wynn Palace, would include a theater and museum, two hotel towers, each with 650 rooms, interactive sculptures, gardens, a 270-degree fully-immersive, entertainment theatre and a destination food hall that offers a wide variety of regional Asian cuisines.
Wynn believes it will attract 7m to 10m people each year to the Crystal Pavilion. The immersive theatre will use super-live technology, while the art museum will overlook the new gardens.
CEO Matt Maddox said back in November: “We have a seven-acre parcel next to Wynn Palace Cotai and we’ve been working very hard on what could come next and what we have so far is a 1.5 million sq ft facility that we think will be a must-see in Macau. In addition, on the north four-acre parcel we were working on a 700-room all-suite hotel that we’ll connect into the north side of Wynn Palace Cotai.”
Analysts with JP Morgan DS Kim, Jeremy An and Christine Wage said: “Target return on investment is 15 to 20 per cent, implying incremental EBITDA of US $300m to US $400m from phase one. This would mean 35 to 47 per cent boost which seems a bit aggressive for primarily non-gaming expansion.”
David Katz, an analyst with Jefferies Financial Group said: “The long-term financial targets released at the 2019 investor day are slightly more conservative than expectations, although the capital allocation commentary should be received positively.”
Categoría:Casino
Tags: Wynn Resorts, casinos,
País: Macao
Event
GAT EXPO CARTAGENA DE INDIAS 2024
09 de April 2024
Connections, agreements and surprises for R. Franco Digital at the 25th edition of GAT EXPO
(Cartagena de Indias, Exclusive SoloAzar) - Guillermo Ruipérez, head of sales at R. Franco Digital, in an exclusive conversation with SoloAzar, emphasised the special focus on organisation and networking during the 25th edition of GAT EXPO. He highlighted the wide range of the integral products and services offered by the firm, as well as the international character of the event that consolidates it as an essential regional meeting point.
Thursday 25 Apr 2024 / 12:00
Win Systems conquers GAT Expo Cartagena 2024 with innovations for Latin American market
(Cartagena de Indias, SoloAzar Exclusive).- Win Systems captivated attendees at the 25th edition of GAT Expo with a line of cutting-edge gaming solutions tailored specifically for the Latin American market. Manuel Wladdimiro, Sales Director for Central America and the Caribbean at Win Systems, offered valuable insights into the main products on display, and reflected on the remarkable growth of the show and its importance in the region, among other topics.
Thursday 25 Apr 2024 / 12:00
Prometeo IT Solutions sets trends with its integrated solutions for the iGaming industry
(Cartagena de Indias, SoloAzar Exclusive).- Prometeo IT Solutions, a Mexican company, consolidated its position as one of the protagonists of GAT Expo Cartagena 2024, captivating attendees with its wide range of integrated and management systems for the gaming market, both for online and land-based casinos. SoloAzar interviewed Guillermo Rojas, commercial director of the firm, who stressed the highlights of its exhibition and shared valuable reflections on the dynamic Colombian market, among other topics of interest.
Wednesday 24 Apr 2024 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.