written and last updated by
Sam Smith at
05 Nov 2024
Journalist, Editorial Department
The renovation and expansion of the most exclusive gaming areas at Wynn's two resorts in Macau are part of a series of significant capital investment projects. Some of these initiatives are currently underway, while others are planned as part of the company's strategy to increase its market share.
Wynn Resorts CEO Craig Billings provided details on these developments, stating, "We are currently revitalizing the Chairman’s Club, our most exclusive gaming area at Wynn Macau. Additionally, the design phase for a similar expansion and renovation of the Chairman’s Club at Wynn Palace has already begun."
In terms of non-gaming offerings, Billings highlighted the recent opening of four renovated and upgraded dining venues at Wynn Palace. The launch of the Drunken Fish restaurant and a food court, scheduled for mid-2025, will further enhance the hotel's appeal.
Billings emphasized, "These initiatives focus on our national leadership in products and services. We believe they will support and stimulate market share in 2025 and beyond."
Wynn's Chief Financial Officer Julie Cameron-Dow discussed the company's expectations regarding overall capital expenditures related to the planned projects. The construction and renovation of buildings are projected to cost between $350 million and $425 million (approximately ₽34.14 billion to ₽41.45 billion) from 2024 through the end of 2025, with the majority of expenses associated with the expansion of Wynn Palace.
"We are currently in the planning phase for several of our projects. Some of them require various government approvals, which may lead to a revision of the total capital expenditure in the near future," Cameron-Dow noted.
Meanwhile, Macau's gaming operators have set a new monthly revenue record, reaching 20.8 billion patacas.
