Gambling boss plans a place 'to gambol'
By Jeremiah Marquez |
April 22, 2010, Thursday
|
Print Edition
Print Edition
BILLIONAIRE Steve Wynn opened his latest hotel and casino in Macau yesterday and said he aimed to start building a massive new resort in the Chinese gambling mecca next year.
Wynn said the project - to be in the territory's Cotai area, a piece of reclaimed land seen as the next great hope for global gambling - would likely feature fewer than 2,000 rooms, about 400 tables, restaurants, shopping and meeting rooms set across some 50 acres of gardens.
Next to the towering interconnected hotel-casino projects in Cotai from competitors such as Las Vegas Sands, Wynn's resort would stand in marked contrast.
"What makes people happy and what don't they get in China? What you don't get in China is space, and the heart of a resort is space - gardens, places to gambol, not gamble," Wynn, chief executive of Las Vegas-based Wynn resorts, said.
"I know what I want to do on the 51 acres, not build four hotels or six hotels or any of that foolishness. I am going to build one hotel of modest size with gardens and extended space wherever you are."
Wynn revealed details of the project ahead of the unveiling of the US$600 million Encore at Wynn Macau. The only major project to open in the booming southern Chinese territory this year, Encore is geared toward high-end tourists and gamblers.
With more than 400 suites, four villas and over 60 gambling tables, the project was described by Wynn as "the ritziest hotel in China" whose rooms would raise the standard for the region's luxury tourism market.
Macau, the world's most lucrative casino market, bounced back strongly from the global recession with a bumper 2009.
So robust was Macau's turnaround that the local government, under a new chief executive, said last month that it would be seeking to limit the industry's growth.
Wynn said the project - to be in the territory's Cotai area, a piece of reclaimed land seen as the next great hope for global gambling - would likely feature fewer than 2,000 rooms, about 400 tables, restaurants, shopping and meeting rooms set across some 50 acres of gardens.
Next to the towering interconnected hotel-casino projects in Cotai from competitors such as Las Vegas Sands, Wynn's resort would stand in marked contrast.
"What makes people happy and what don't they get in China? What you don't get in China is space, and the heart of a resort is space - gardens, places to gambol, not gamble," Wynn, chief executive of Las Vegas-based Wynn resorts, said.
"I know what I want to do on the 51 acres, not build four hotels or six hotels or any of that foolishness. I am going to build one hotel of modest size with gardens and extended space wherever you are."
Wynn revealed details of the project ahead of the unveiling of the US$600 million Encore at Wynn Macau. The only major project to open in the booming southern Chinese territory this year, Encore is geared toward high-end tourists and gamblers.
With more than 400 suites, four villas and over 60 gambling tables, the project was described by Wynn as "the ritziest hotel in China" whose rooms would raise the standard for the region's luxury tourism market.
Macau, the world's most lucrative casino market, bounced back strongly from the global recession with a bumper 2009.
So robust was Macau's turnaround that the local government, under a new chief executive, said last month that it would be seeking to limit the industry's growth.
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