Macau's casino hotspot and Asian casino operator Win Macau Limited is reportedly considering whether to push ahead with plans to further expand the development of Win Macau and Win Palace Co-Tai.
Craig Billings, CEO of a Hong Kong-listed company, made the announcement earlier today as part of a discussion on its second-quarter financial performance, according to a report from Inside Asian Gaming. Sources explained that the casino market in Macau is increasingly volatile and moving away from the junket-oriented VIP market to further attract a leisure-oriented customer base.
Billings reportedly declared that Win Macau Limited, a subsidiary of U.S. casino operator Win Resorts Limited, recently saw "new customers with diverse motives coming to Macau," which was different from what was popular before the advent of the coronavirus. The executive also allegedly claimed that these new impetus included shopping and leisure, which the region reportedly claimed was 'inaccessible to Hong Kong' due to numerous pandemic-related lockdowns and travel restrictions.
"This piqued our interest when thinking about what Macau's future development will be from a non-game perspective. Now we don't fantasize about talking about a Las Vegas-style non-game market, but our ability to adapt and change our business as the market adapts is a very exciting incremental investment opportunity."
Wynn Macau Limited recently planned to begin work on bringing an additional 1,371 rooms to the Wynn Palace Kotai venue by constructing two new hotels, as well as approximately 7,000 square feet of retail space, in a 1,000-room Wynn Macau facility. However, this latter plan was postponed indefinitely two years ago due to the coronavirus pandemic, with the operator reportedly claiming that the property still has 12.5 acres of untapped land that could prove 'very meaningful' in the future.
Ian Michael Coughlan, president of Win Macau Limited, reportedly hoped the company's only cotay strip company would expand to become the "only world-class cultural destination" with "numerous non-gaming amenities such as event space, interactive entertainment installations, food and beverage offerings and additional hotel rooms." But the experienced expert said the operator is now considering deciding precisely whether it will benefit Macau in the long run while waiting to give the local government its opinion on what is right for the future.
"We will reconcile our needs with that, but we have a great opportunity to greatly expand our operations in Macau.
Billings reportedly said the upcoming Middle Eastern real estate will provide the company with an 'amazing opportunity to do what we do best'. This includes large-scale lighting and water shows similar to the Lake of Dreams spectacle already operating at the Win Las Vegas venue, in addition to "room products that take advantage of unique aspects of the beachside environment."
"We've been working quickly on the design for our project in the United Arab Emirates, and every time I repeat that design, I get more and more excited about the opportunity. I'm sure we'll offer something special to a market that's used to paying a premium for a luxury experience."
Regarding the possibility of attracting a large Las Vegas-style casino resort to New York City, Billings reportedly told investors that he was still interested in any gateway city offered by Wynn Resorts Limited "to the scale and quality of development." He went on to claim that the operator was "interested" in such a project, although he was "not yet in a particular position to talk."
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