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

Nov

3

Wynn Cotai

Filed Under Cotai, WYNN Cotai | Leave a Comment

Move over six-star Crown Macau, it sounds like there’s going to be a seven-star resort in town…

There was alot of speculation as to what Wynn Cotai would end up looking like. Additionally, there were questions on the number of hotel resorts that Wynn would build on his piece of property in Cotai. Back in August, I wrote a piece about Wynn’s Cotai plans, and by the sounds of it, it sounded like it was going to be something really special.

Now, just a few days ago on his third quarter earnings call, Steve Wynn made the following comment on his Cotai plans 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

10

WYNN delays Macao expansion

Filed Under Macau, Macao, Cotai, Wynn Macau, WYNN Cotai | 1 Comment

Puts the breaks on WYNN Cotai too?

Cant blame the guy for being cautious, especially when the Chinese government can be so dumb sometimes.  If I were to read between the lines, I’d guess that an announcement for WYNN Cotai won’t happen anytime soon.

Here is part of WYNN’s press release…

“…we are wary of the future effect of newly restrictive visa requirements imposed by the central government in China which have, in the past few weeks, restricted visitation to Macau from Guangdong province. In addition, management recognizes and will continue to monitor the effect on our business of the dramatic expansion in supply represented by the openings of the Venetian Cotai in August and the MGM Grand Paradise in November. In light of this uncertainty in the marketplace, we have elected to open only a portion of our Wynn Macau expansion in the third quarter of 2007 and to opportunistically provide the additional supply available in the remainder of the expansion.”  (*more below*)

The Company intends to open approximately 25,000 square feet of additional gaming space at Wynn Macau in the third quarter of 2007, which will include approximately 25 table games and 200 slot machines, along with an additional restaurant. The remaining portion of the expansion will be opened subsequently. Design and budgeting for the Wynn Diamond Suites hotel tower previously announced for Wynn Macau continues, with an early 2010 opening anticipated.