International edition
June 22, 2021

A USD 3.9 B hotel, casino and spa

Wynn Palace in Cotai to open in first half of 2016

(Macau).- Wynn Macau said its USD 3.9 B Wynn Palace resort on Cotai is on track to open in the first half of 2016, according to the Asia Gambling Brief. The resort will have a 1,700-room hotel, performance lake, meeting space, casino, spa, with retail offerings and food and beverage outlets, the company said in an interim report filing.

W

ynn Macau entered into a guaranteed maximum price of US$ 2.58 billion with Leighton Contractors (Asia) in July 2014 to design and build the Wynn Palace project. The general contractor is obliged to substantially complete the project in the first half of 2016.

Wynn Macau’s interim report for the six months to June 2014 shows that casino revenue increased by 9.7 percent to US$ 1.98 billion compared with the same period last year. Total operating revenue was up 9.2 percent to US$ 2 billion. EBITDA for the six months rose by 11.6 percent to US$ 593.5 million. 

Earnings per share fell slightly from 71c to 70c over the same period. The company is paying an interim dividend of 70 cps on 23 September to shareholder on the register on 12 September.

Staff costs jumped 29 percent to US$ 5.35 billion in the six months to June 2014, due the interim report says “primarily to general salary increases and the new 2014 bonus plan for non-management employees.”

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