Wynn Resorts CEO Craig Billings recently told Bloomberg News he’s interested in bringing more hotel rooms to the group’s operations in Macau as well as non-gaming facilities.
Wynn Resorts is the parent of Macau casino concessionaire Wynn Macau Ltd., which runs two gaming resorts in the city: Wynn Macau on the peninsula and Wynn Palace in the Cotai district. Wynn is one of six casino concessionaires now planning to bid for a second gaming concession in the world’s most profitable gaming hub, which has been hard-hit by the Covid-19 pandemic and recent crackdowns on the industry by the Chinese government.
Wynn has considered “sports facilities” and “art and cultural attractions” for the Macau market as well as hotel rooms “designed to encourage medical tourism,” Billings said in the interview.
Wynn Macau confirmed to GGRAsia last month that the company has already applied to extend its existing Macau gaming rights until December 31 this year, along with the other five existing operators. The current six gaming licenses in Macau were due to have expired on June 26, but the local government approved a six-month extension.
Outside Macau, Wynn Resorts is pursuing a $2 billion casino resort on Al Marjan Island in Ras Al Khaimah the United Arab Emirates. The project with 1,200 hotel rooms would feature gaming tables and slot machines intended specifically for tourists and the region’s “non-citizen residents,” Billings said.
Bloomberg noted that Wynn relied on Macau for 70 percent of its business revenues as recently as three years ago, but Billings, appointed CEO in February, is “more enthused than intimidated by the challenges” and will work to bring in a younger customer demographic.
Wynn Chairman Phil Satre has a similar goal. “We’re seeing our customer reflect more of the age group that Craig is in,” he recently said. “Baby Boomers to Gen X and Millennials.”
Billings is also considering traditional casino expansion opportunities closer to home, including New York City, where Wynn is looking at several sites for what could be three new casinos approved in the area. He’ll also consider other businesses that could be an extension of the Wynn brand, such as high-end lodging or a boutique cruise line.
“What’s happening with the consumer is a willingness to spend,” Billings told the news outlet. “And it’s not just us.”
