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
AI: The new ace in the hole for the games of chance industry
(Cartagena, Exclusive SoloAzar).- One of the conferences held within the recent GAT EXPO, brings to the table a topic that is on everyone's lips: Artificial Intelligence (AI). This year, the panel entitled “Artificial Intelligence in the Entertainment Industry” was held with the presence of prominent experts from Latin America.
Tuesday 30 Apr 2024 / 12:00
Why to invest in Paraguay?
(Cartagena de Indias, Exclusive SoloAzar) - During the conferences organised at the GAT EXPO 2024 fair, Dr. Carlos Augusto Liseras Osorio, president of the National Gaming Commission, (CONAJZAR, in its original) asked this tacit question, to highlight the advantages and benefits of investing in the Republic of Paraguay, and also notifying the audience about the upcoming tenders for 7 land-based casinos in that country.
Monday 29 Apr 2024 / 12:00
Novomatic's innovative offerings and market insights: a recap of our presence at GAT Expo 2024
(Cartagena de Indias, SoloAzar Exclusive).- Manuel Del Sol - CEO at NOVOMATIC Gaming Colombia, gave an overview during the interview with SoloAzar, focusing on the innovative products presented at the event, the good reception from visitors, insights on the Colombian iGaming market, the latest technological trends incorporated into the platform, and the firm's approach to regulatory adaptation in the Latam market.
Friday 26 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.