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
Peru Gaming Show 2025
18 de June 2025
IAG Play Stood Out at PGS 2025 with Innovative Games and Latam Expansion
(Lima, SoloAzar Exclusive).- Fernando Polti, CTO of IAG Play, shared insights about the products showcased at the 2025 Peru Gaming Show, emphasizing a strong offering inspired by the gaming universe. With titles like high-volatility Crash Games, immersive Fantasy experiences, and the successful Scratchers, the company captivated operators and regulators, sparking new partnerships across Peru and Latin America. What makes their portfolio stand out? Read on to discover.
Friday 04 Jul 2025 / 12:00
Omnichannel Explained by Experts: Strategies to Lead the New Era of Gambling in Latin America
(Lima, SoloAzar Exclusive).- During the second academic day of the Peru Gaming Show (PGS) in Lima, the conference “Omnichannel Strategy: Maximizing Revenue and Achieving Operational Efficiency” brought together industry experts to analyze how the integration of physical and digital channels redefines the success of suppliers and operators in the regional gaming industry.
Friday 04 Jul 2025 / 12:00
"PGS 2025 is a must for players in the igaming world", Diego Verano, EEZE
(Lima, SoloAzar Exclusive).- During his first participation in the 2025 edition of the Peru Gaming Show, Diego Verano, Director of Business Development LatAm at EEZE, talked to SoloAzar about his experience at the event, his interest in the LatAm market and his vision on the evolution of the sector in the region.
Thursday 03 Jul 2025 / 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.