Macau approves Wynn Palace hotel and entertainment expansion
Palo Real Estate Company Limited and Wynn Resorts have up to 60 months to complete the expansion.
Macau.- Wynn Macau has received approval from the Macau government to amend the land concession for Wynn Palace resort in Cotai, enabling the company to expand the integrated resort with additional hotel and entertainment facilities.
Additions approved include a theatre with a gross floor area of 8,787 square metres and an event and entertainment centre covering 23,738 square metres. The approved gross floor area for the five-star hotel has increased from 454,800 to 534,105 square metres.
The approval aligns with plans to build The Enclave at Wynn Palace, a 432-suite hotel tower expected to increase the property’s room inventory by about 25 per cent. The US-based operator said in May that construction is expected to begin in the second half of 2026 and take around two and a half years, with the project estimated to cost between US$900m and US$950m.
The expansion also forms part of Wynn Macau’s non-gaming investment commitments under its current 10-year Macau gaming concession, which runs through 2032.
The revised agreement replaces the original land concession signed in 2012. Wynn Macau’s applied in October 2023 to redevelop a vacant section of the Wynn Palace site for the theatre and event centre. It later submitted an updated proposal in January 2025, adding plans for a new hotel tower.
Government departments raised no objections to the proposal after determining it did not conflict with the original land concession and that the resort’s casino footprint would remain unchanged. The approval was published in the Official Gazette of Macau today, and Wynn Macau disclosed the approval in a voluntary announcement to the Hong Kong Stock Exchange.
Under the revised terms, Palo Real Estate Company Limited and Wynn Resorts (Macau) have up to 60 months to complete the expansion. Palo Real Estate must pay an additional land premium of MOP652.31m (US$80.8m) to the Macau government, which Wynn said will be funded from available cash.
The revised agreement also increases the annual rent for the site to MOP9.48m (US$1.17m), to be reviewed every five years. The company must also provide a deposit or bank guarantee equal to the annual rent.
