The brand new complex from billionaire Steve Wynn is the most expensive in the group’s history. Started in 2011, the project cost over $4,2 billion and opened its doors last Monday.
The Wynn Palace is proudly located on the Cotai Strip, the dynamic district of Macau. After five years of construction and $4,2 billion invested, it becomes the most expensive Resort of the Wynn group.
In 2011, when Macau was economically booming, Steve Wynn decided to build a gigantic, wonderful and unique hotel-casino.
The Resort features, today, more than 1,700 luxury suites, a huge conference space and a Spa of 18,000m2 whose particularity is to suggest a $450 golden leaf face treatment.
But the most impressive thing is doubtlessly the construction of a miniature Eiffel Tower and the placement of Chinese antiques inside the Resort, some of them dating back from the Qing dynasty during the 18th century! The cost of these pieces is estimated at $200 million, as the reviewjournal of Las Vegas recalls us.
According to prnewswire.com, we can find also a huge performance lake, where musical fountain shows will be held thanks to 1,195 water jets. A gondola cab system is available for the transfer of clients between the different parts of the venue. Certainly, a hint about what is going to be seen at the Wynn Las Vegas.
About games, the casino features 150 gaming tables for now. Hundred are available now when fifty others will arrive in the following years. Apparently, 250 gaming tables of the Wynn Hotel & Casino Macau (other venue of the billionaire in the city) will be transferred into the new complex.
Despite a festive opening and an unprecedented spending, the bet is hazardous for Steve Wynn and his group. Indeed, the special administrative region of China is facing 26 consecutive months of declining gross gaming revenue.
Moreover, The Wynn Palace is going to face a strong competition with the future opening of the ParisinaMacau (Las Vegas Sands Corp.) in October and the MGM Cotai in fall 2017.
Let’s see now if the launch of the Wynn Palace and its future competitors will boost the gaming market in Macau.