One of the worldwide leading casino operators, Wynn Resorts Limited is rather optimistic about its future in Macau. American casino operator based in Las Vegas, the state of Nevada, believes that its major Asian subsidiary Wynn Macau Limited has the necessary ability to successfully bounce back once local authorities in Macau decide to lift a series of travel and other restrictions which were put in place in order to prevent the spread of the highly-contagious coronavirus strain.
According to several reports released by Inside Asian Gaming and GGRAsia, Wynn Macau Limited is one of the most prominent names in the casino gaming industry in Asia. This Wynn Resorts Limited Asian subsidiary is responsible for the iconic Wynn Macau venue as well as even more impressive Wynn Palace Cotai. Both of these facilities were forced to shut down their operations for a fifteen-day period back in February as part of the local environment’s efforts to prevent the spread of the new coronavirus strain.
Wynn Macau Limited
The company which operates and owns Wynn Macau Limited, Wynn Resorts Limited emerged on the scene in 2002 or eighteen years ago. This publicly-traded company is based in Nevada. It is one of the major developers and operators of luxurious hotels and casinos. Founded by Steve Wynn, the company is now run by Matthew Maddox. As of this year, Wynn Resorts Limited has developed six properties while several of its flagship properties have finally earned five-star status on the FTG or the Forbes Travel Guide including its Encore Las Vegas and Wynn Las Vegas venues.
When it comes to Wynn Macau Limited, it is one of the leading casino developers and operators in Asia which as previously mentioned is responsible for Wynn Macau and Wynn Palace Cotai. Wynn Macau is a high-end casino and luxury hotel resort located in Macau that opened back in 2006. The property features two hotel towers that are packed with over one thousand rooms alongside a massive 273,000 casino space and over 59,000 square feet of retail space. Other amenities include dining restaurants, a swimming pool, salon, and two spas.
The company’s even more impressive Wynn Palace Cotai opened its doors to the public in August of 2016. This is the company’s second high end integrated casino and hotel resort located in Macau, the Cotai Strip region. The property is packed with a twenty-eight-story hotel with over one thousand and seven hundred rooms and hotel suites. The property is also packed with massive retail space, meeting facilities, fine dining restaurants as well as 424,000 square feet casino space.
Following coronavirus-related lockdowns and closures of its facilities, Wynn Macau Limited has struggled to reenergize its operations. The subordinate has also struggled greatly in the wake of the re-opening of its properties back on the 20th of February due to the local government’s ban which restricted visitors from mainland China.
Despite these initial struggles, Wynn Resorts Limited’s Chief Executive Officer Matt Maddox said in one of his recent conference calls that the company’s subordinate will most likely bounce back quickly once restrictions related to the ongoing coronavirus pandemic are eased. He said to the company’s investors that there is a great demand for such activities and he believes that there will be demand for such activities in Macau as well. The casino operator’s boss also added that Wynn Macau Limited depends on the high-end segment of the market which in his words will most likely come back first in the former Portuguese enclave.