Wynn Macau eyes big investments pending government approval
During a recent conference call, Wynn Resorts' CFO, Julie Cameron-Doe, talked about the company's financial strategies and future investment plans. By the end of 2025,...
Wynn Resorts considers expansion in New York and Thailand
Wynn Resorts, led by CEO Craig Billings, is considering establishing new land-based casinos in Thailand and New York.
With revenue climbing 30.8 percent from the previous year to 1.86 billion dollars in the first quarter, the company reported a notable gain in revenue. Improvements in their food and beverage offerings, hotel accommodations, and casino operations all contributed to this increase. This was particularly evident in Macau, where the removal of COVID-19 limitations led to a strong rebound.
In the United States, Wynn had a small rise in revenue in Boston and Las Vegas. On the digital front, Wynn is pulling back from its participation in online sports betting through the sale of its interactive sports betting licenses in New York and the closure of its operations in Massachusetts. Although WynnBet is still operating in Michigan, it is also being investigated.
Billings has voiced confidence in their ability to enter new markets. Wynn is thinking of constructing an integrated resort in Hudson Yards, New York, but any final decisions won’t be made until 2025 when the state decides on new casino licenses. According to Billings, this kind of development would greatly increase the state’s tax income, tourism, and employment.
In Thailand, Wynn is keeping a close eye on the situation as the country moves toward legalizing casinos, even though it is still very early in the process. Billings views Thailand’s well-established tourism infrastructure and excellent service standards as benefits for opening a casino.
Along with these prospective additions, Wynn is now working on a brand-new casino project that will open in early 2027 on Al Marjan Island in the United Arab Emirates. With a price tag of approximately four billion dollars, this project is a major foreign investment for Wynn.
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