Wynn Palace

Wynn Palace

Rendering of Wynn Palace
Location Macau, China
Address Cotai Strip
Opening date 25 June 2016 (25 June 2016)
Theme Floral
Number of rooms 1,700
Signature attractions 8-acre Performance Lake
SkyCabs
Casino type Land-Based
Owner Wynn Resorts Limited
Website wynnpalace.com
2015 Wynn Palace exterior.

Wynn Palace, owned by Wynn Resorts, is going to be the third luxury integrated resort of Wynn in Macau, China, and the company's first resort at Cotai Strip. Wynn Palace will feature 1,700 rooms, an 8-acre Performance Lake, air-conditioned SkyCab, gaming space, meeting facilities, spa and salon, luxury retail and fine dining. It is scheduled to open in early 2016.[1] The first resort complex is called Wynn Macau.

Development

Wynn's Cotai Strip land reserve.

On 16 May 2011, the chairman and chief executive officer (CEO) of Wynn Resorts, Steve Wynn, is expecting the Macau government to approve its application for a Cotai site shortly. Wynn's new project on the Cotai Strip is expected to cost over MOP 20 billion. On 1 May 2012, Wynn Macau received approval from the Macau government for its Cotai land concession, paving the way for Wynn Macau to break ground on the 51-acre site.[2]

In May 2012, Wynn Resorts got granted a formal government land transfer license for its resort and casino on Cotai.[3]

In February 2013, pre-foundation works started.[1]

In July 2013, Leighton Holdings finalized a design and build contract worth 2.6 billion USD[1] to construct Wynn Palace.[4] The resort will include an aerial transport system with gondolas shaped like smoke-breathing dragons, hot-air balloons, pedestal gardens, a 30,000 square metre performance lake[5] at the entrance and a 1700[1]-room hotel.[4]

During 2013 Q2 Earnings Call of Wynn Resorts in July 2013 it was announced that Wynn Palace will have a light rail station stopping at midpoint of the performance lake with bridges going west to City of Dreams, Hyatt and MGM, and east to Wynn Palace sidewalk. A direct connection to the proposed Wynn gondola system is in construction which is supposed to rise above the lake, go around and through the lake, through the fountains and are inserted into the hotel promenade. An additional three ways of entry are planned: North/South atrium plus bus entrance on east side.[6]

During the first quarter of 2015, approximately $374.3 million is invested for the Wynn Palace Cotai project, taking the total investment to date to $2.2 billion.[7]

Wynn Diamond

At the 2013 Q3 Earnings Call for Wynn Resorts Ltd. it was announced that next to Wynn Palace, another resort facility is being worked on, named 'Wynn Diamond' which would include a 15,000-seat entertainment venue called ‘Wynn Diamond Coliseum.[8] Wynn Diamond is also referred to as Phase 2 for Wynn Cotai.

See also

Wikimedia Commons has media related to Wynn Palace.

References

  1. 1 2 3 4 Wynn Resorts (2013-10-24). "Wynn Resorts, Limited Reports Third Quarter 2013 Results" (PDF). Retrieved 2013-12-01.
  2. ↑ Wynn Macau Receives Approval for Cotai Development BUSINESS. online.wsj.com. 1 May 2012.
  3. ↑ Travis Hoium, The Motley Fool (2012-05-04). "Wynn Gets License to Gamble on Cotai". Retrieved 2013-12-01.
  4. 1 2 The Australian (2013-07-30). "Leighton finalises $2.8bn contract to build new Wynn resort in Macau". Retrieved 2013-11-30.
  5. ↑ Leighton Project Showcase. "Wynn Palace". Retrieved 2013-11-30.
  6. ↑ Vegas Tripping (2013-07-29). "The Steve Announces Cotai's Wynn Palace". Retrieved 2013-12-01.
  7. ↑ Reuters (2015-04-28). "Wynn Resorts, Limited Reports First Quarter 2015 Results". Retrieved 2015-06-22.
  8. ↑ Michael Grimes (2013-10-28). "Wynn eyes phase two of Cotai". Retrieved 2013-11-30.

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