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...
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 Macau is planning on spending anywhere from 350- 500 million dollars on these obligations, she said. Getting various government approvals is a requirement for this spending.
Wynn Resorts had a record-breaking first quarter, generating $647 million in EBITDAR. Operating revenue from its Macau activities, which brought in $998.6 million, accounted for $339.6 million of this.
Wynn’s solid financial situation was emphasized by Cameron-Doe, who pointed out that as of March 31, the company had around $4.2 billion in worldwide liquidity, divided between cash in Macau and the US. She also mentioned that throughout the previous year, the corporation has lowered its total debt by roughly one billion dollars.
As part of a new ten-year deal in Macau, Wynn Macau plans to invest a total of $2.2 billion over the next decade, primarily on non-gaming and international market expansion. Over the next two years, it is anticipated that these investments will begin to increase and are anticipated to produce a positive return on investment.
A two billion dollar expansion at Wynn Palace in Cotai is among the plans that were previously put on hold due to the COVID-19 outbreak. These plans are currently in the design and planning stages and are awaiting the required government clearances. Wynn’s dedication to improving its facilities and broadening its selection of services beyond gaming is evident in this.
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