New hotel/casino complex opens to the public in Macau

22 August 2016

The Wynn Palace, the new hotel/casino complex operated by Wynn Resorts (Macau), opens to the public on Monday, at a time when gaming revenues have been falling for 26 consecutive months.

The latest data indicates that gross casino gambling revenue in July recorded an annual decline of 4.5% to 17.774 billion patacas (US$2.221 billion).

The amount recorded in July – the 26th consecutive monthly drop since June 2014 – is the lowest since December 2010, the month in which gross casino gaming revenue stood at 18.883 billion patacas.

The new complex, which represented an investment of US$4.2 billion opens with 350 gaming tables, some of which transferred from Wynn Macau. Just 50-60 are reserved for so-called VIP gaming or high rollers.

The Wynn Palace features 1,706 rooms, ten restaurants, a spa and an area with 50 luxury stores, as well as services for banquets and conventions, outside there is a cable car that can transport 1,200 people per day and has on display several pieces of art, costing between US$100 million and US$150 million.

In September in Cotai, an area of ​​landfill between the islands of Coloane and Taipa, another hotel/casino complex, called the Parisian, is due to open. It seeks to recreate the atmosphere of Paris, featuring a replica of the Eiffel Tower at half the original size.

The Parisian, which will have 3,000 rooms, is part of the second phase of the complex owned by Las Vegas Sands, the Sands Cotai Central, which opened in April 2012, the result of a total investment of US$4.4 billion. (macauhub/MO)