Former Wynn Macau CEO said expects the gaming sector to bounce back once border restrictions have been lifted.
Macau.- Steve Wynn, former Wynn Macau CEO, said he expects a quick recovery for the gaming industry once the border restrictions imposed by Mainland China are lifted.
In comments to FOX Business, Wynn pointed to the thousands of Chinese tourists that have visited Henqgin’s large amusement park resorts shortly after their re-opening post Covid-19.
“That’s the kind of energy that has been suppressed and will jump out. I believe there will be business and that people are going to come back, hopefully, they will do it safely,” Wynn said.
Mainland China, Macau and Hong Kong have maintained discussions about reducing travel restrictions and quarantine requirements this month but there has been no indication lifting restrictions to date..
Wynn revealed that 65 to 70 per cent of Wynn Resorts profits were generated by its Macau SAR operations through Wynn Macau.
Following several allegations of sexual misconduct, Wynn resigned as chairman and CEO of Wynn Resorts and Wynn Macau in 2018.