The construction of Wynn’s new Macau Crystal Pavilion hotel is expected to begin by late 2021, the company revealed.
Macau.- Wynn Resorts announced the construction of its South Parcel Pavilion and 650 room hotel tower will begin in 2021. The development will start late in that year and will cost around US$2 billion.
The development will be located next to Wynn Palace and will become a “must-see” tourist attraction, the company says. Wynn’s new Macau hotel will feature a unique architectural design with an all-glass structure.
The company’s expansion plan involves two-phased hotel towers with 1,300 luxury rooms and suites. They’ll include public entertainment attractions, a 270-degree entertainment theatre and a food hall offering a variety of regional cuisines.
The full project will be completed by 2024, Wynn Resorts detailed.
According to Bernstein analysts, it won’t have a big near-term impact, but will eventually be a long-term driver.
Wynn’s Japan plans
The casino industry will soon land in Japan and most international companies have put their eyes on the archipelago. As the government has yet to determine the specific locations, Wynn says it’s looking at multiple cities in Japan.
According to Wynn Resorts CEO Matt Maddox, the company is considering more than one location for its potential project.
“We are looking at multiple cities,” Maddox told US TV channel CNBC. “So, we’re not just saying we’re going only after one city.”
Furthermore, though he didn’t identify it, he said the consortium that’ll work with Wynn Resorts would be a top competitor.
“We’ve been working on this for eight years,” Maddox said about the company’s chances against competitors. “We typically like to play a little more low-profile,” he said.
“What I love about our strategy in Japan is we are known as the high-quality operator. What we deliver is excellence,” he said.