Jul

11

Crazy day for Wynn Resorts

Filed Under Macau, Macao, Cotai, Wynn | Leave a Comment

What a crazy and contradictory day for Wynn Resorts yesterday.

First, the day started off with rumors that Wynn Resorts was planning on raising anywhere between $500 million to $3 billion in a secondary stock offering on the Hong Kong Stock Exchange to help finance its Wynn Cotai Development. The reports were pretty detailed, even naming the investment banks the company had lined up to help.

When I read this, I thought a few things: Read more

Apr

30

Wynn expanding its Asian presence?

Filed Under Cotai, Wynn | 1 Comment

I plan on keeping my two blogs pretty separate, but sometimes there may be something interesting elsewhere that could be of interest to those following the Macao gaming industry, and I’ll try and bring it to your attention.

So for those who care, it looks like Wynn may play a part in a US$2.5 billion casino project in Manila Bay, Philippines with its largest non-Steve shareholder, Aruze.

Dec

21

Wynn Macau expansion almost ready

Filed Under Macau, Macao, Wynn, Wynn Macau | Leave a Comment

Wynn Resorts made the following announcement through a press release:

Wynn Resorts, Limited announced today that it will open its Wynn Macau expansion on Monday, December 24th; approximately one month earlier than anticipated. The expansion will include 85 additional tables, 551 new slot machines and Wynn Macau’s new rotunda entrance showcasing a dramatic front feature attraction. Subsequent to the opening of the expansion, Wynn Macau is expected to have a total of approximately 390 table games and 1,190 slot machines.

In January 2008, we will unveil our expanded Read more

Nov

24

Wynn comments on Cotai project

Filed Under Macau, Cotai, Wynn, WYNN Cotai | Leave a Comment

AFP.com interviewed Steve Wynn recently, discussing his Vegas and Macau properties. Wynn also commented on his plans for Cotai. I cant say there was anything new in the interview, but Wynn is a visionary and its always interesting to hear him talk about casinos - especially in Cotai. Read more

Oct

3

Cotai Strip disappoints

Filed Under Macao, Cotai, Las Vegas Sands, Venetian Macao, Melco PBL, Wall Street, Wynn | Leave a Comment

Who ever thought 50% revenue growth would be disappointing!

Cotai Strip

The AP writes:

“Analyst Celeste Mellet Brown said early figures showed September gambling revenue grew 55 percent from Read more

Aug

1

Wynn comments on Cotai plans

Filed Under Cotai, Wynn, WYNN Cotai | Leave a Comment

“Cotai, Cotai, Cotai”

MacauBusiness.com did a great interview with Steve Wynn. The focus of the article is Steve Wynn’s plan for Cotai, which is nice to see since it looked like the project had been put on the backburner. The reason for the delay:

“…pay a little more attention to the Venetian after August. Wouldn’t you?”

It looks like Mr. Wynn has great plans for his Cotai hotel casino:

“I’m going to build in Cotai the single most gorgeous hotel on the planet…it won’t be the biggest hotel, it will just be the fanciest, all suite hotel on the planet”

“The components of the hotel will be broken up into separate issues. It is a style of mine to make what you would call four different hotels or three different hotels.”

“Cotai it will probably be the last great job of my life”

And what would a Steve Wynn interview on Macao be without a jab at his arch rival, Sheldon Adelson:

“Sheldon has antipathy for me, personally, but as far as rivalry in terms of business there is none. We are a completely different category than of Venetian: we are the top end operator and I don’t know if he wanted to be but he is not. He caters to a different market. “

Jun

6

Summary of Cotai casino companies

Filed Under Macao, Cotai, Las Vegas Sands, Melco PBL, Wall Street, COMPANIES, Wynn, Galaxy, SJM, MGM & Pansy Ho | Leave a Comment

Stumbled across this blog entry that I thought you guys could find useful.  A nice analysis of the companies involved in developing the Cotai casinos.

Here it is:  CNAnalyst.com

Mar

22

Warning: Here comes the competition

Filed Under Macau, Macao, Cotai, OTHER, Wynn, COTAI COMPETITION, Pagcor City, Taiwan | 2 Comments

First Singapore, now two more.

We knew the Asian competition wouldnt end with Singapore, right?  Singapore was to have just two casinos and it was far enough away that it wouldnt be a threat.  And sure, we knew Japan would probably legalize casinos sooner or later, but that wasn’t a big worry either since we couldnt really see the Chinese flocking to Japan to gamble at locals types of casinos.  Now though, two more countries have made a move that could be a little concerning.

First, Taiwan has made some noise the last few days.  It looks like Taiwan is seriously considering legalizing casino gambling, but is denying that it has already decided to issue three licenses.  The Taiwanese probably need to be alittle cautious though with the whole China issue and everything, but this is Macau’s own backyard so a little alarm bell should probably go off.

Now this morning, News reports are everywhere that the Philipines could go ahead with its $20 billion dollar Pagcor City project in Manila Bay that would include casinos, hotels, shopping, dining, entertainment, etc.  Wynn’s name is even being thrown around. 

The government wants Pagcor City to be just like the Las Vegas Strip.  That sounds just a little too familiar, doesnt it.

Jan

28

Macau video from CNBC

Filed Under Macau, Cotai, Las Vegas Sands, Venetian Macao, Wall Street, Wynn | Leave a Comment

CNBC has a good three minute video discussing Wynn, LVS and its Cotai Strip®, and Macau, and of course a good quote from LVS. (**more below the ads**)

“Mr Wynn’s property could fit into a corner of what we’re building (on the Cotai Strip®)”

Jan

3

Macau & Cotai stabs, jabs, and family fueds

Filed Under Macau, Cotai, Las Vegas Sands, Wynn, Galaxy, SJM | Leave a Comment

Cotai and Macau quote galore!

There is a great, detailed Bloomberg article today about Macau. There is not much in the way of new news, but it covers a broad range of Macau and Cotai subjects. Plus, what would a Macau article be without stabs, jabs, bickering, and family fueds?

Money manager: “In 10 years, Macau will resemble Vegas on steroids”

Adelson: “Forget about the dating services. You can’t make a better match than bringing casinos to Asians.”…”I find it startling. Apparently he hasn’t got to the point where he realizes there’s competition.”…“It’s just like a person in the desert needs water. These people need entertainment.”

Galaxy CEO Carter: “Adelson and Wynn are visionaries. In Macau, I’m not sure the timing of their vision is correct.”

Stanley Ho: “Unlike the others, which are replicas of their Vegas models, our Grand Lisboa is unique and original”

Winnie Ho: “We don’t need all these lawyers if he plays by the rules and the law and pays me back the money he owes me. But that’s just Stanley, always thinking he can just walk over anybody.”

Wynn: “I’ll be building here for the next 10 years”

Book author: “Stanley Ho’s kingdom is unraveling. Within the family it looks like it’s every man for himself.”

Dec

30

Wynn Macau service disappoints; Starworld delivers

Filed Under Macau, Cotai, Wynn, Galaxy, Wynn Macau, Galaxy Starworld | Leave a Comment

Looks like NY Times writers wont be staying at Wynn next time in Vegas.

In a recent travel review written by the NY Times, a Times writer wrote of Wynn Macau:

“But the service, except in the well-staffed spa, leaves something to be desired. No army of liveried personnel descends to open taxi doors or to help guests with luggage, and check-in can be a chaotic affair. Quite a few of the young employees speak little or no English, with “sparkling water” and “open for lunch?” proving incomprehensible.”

On the other hand, Galaxy’s Starworld delivered:

“Service is almost instantaneous, with a high level of English fluency.”

Good to see the newcomer to the gaming industry getting the service right.

The article also discusses the lack of young employees in Macau. It is no secret that Macau can not supply the workers needed for its rapidly expanding gaming industry. The draught will be even more emphasized when the Cotai Strip opens in 2007. It’s also no secret that Asians are not accustomed to the level of customer service demanded by U.S. and European travellers.

Let’s hope poor customer service does not turn-off international travellers to Macau.

Dec

11

Wynn: No Cotai JV

Filed Under Macau, Cotai, Wynn | Leave a Comment

In a recent interview with the Las Vegas Sun’s Jeff Simpson, Steve Wynn discussed his plans for Cotai.  Although he has flip flopped back and forth between a wholly owned project and a joint venture, Wynn’s recent comments about his 52 acres in Cotai sound like he has no plans to dilute his ownership. “The idea of splitting and subdividing 52 acres doesn’t appeal to me,” Wynn said.

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