December 19, 2022 Macau
Macau casino operator Wynn Macau Ltd says its non-gaming investments – as part of its new, 10-year concession in Macau – cover a “diverse range of offerings and initiatives”, aiming to attract visitors from overseas.
The group is set to spend MOP17.7 billion (US$2.21 billion) over the course of the decade-long concession, with MOP16.5 billion – or about 93.2 percent – set for expanding international markets and non-gaming investments.
The breakdown of the group’s investment was detailed on Saturday by Craig Jeffrey Fullalove (pictured, left), chief financial officer and chief administrative officer of Wynn Resorts (Macau) SA, the local concession-holding entity of Wynn Macau Ltd. With him was Linda Chen (pictured, right), vice chairman and an executive director of Wynn Macau Ltd, and also managing director of Wynn Resorts (Macau).
Macau’s six newly-reinstalled casino operators were outlining at a Saturday press briefing their respective ideas for their new 10-year concessions, due to start on January 1. The presentations followed the formal signing on Friday of their new contracts.
The Wynn group runs the Wynn Macau gaming resort on the city’s peninsula, and Wynn Palace, in the Cotai district. The ultimate parent is U.S.-based casino operator Wynn Resorts Ltd.
During the presentation session, Mr Fullalove said the organisation will develop a theatre for “a unique spectacle that Wynn will develop especially for Macau in support of world-class entertainment shows”.
The casino group also plans to launch a “themed, interactive and immersive centre,” offering what it termed “experiential entertainment through state-of-the-art technology for all ages”.
Wynn will also provide in Macau exhibitions and interactive exhibits at a “Wynn Art Gallery”, which will be complemented by an “outdoor garden featuring the work of international artists, as well as interactive installations”.
The casino operator will additionally develop an event and entertainment centre, to support “multiple initiatives”. Such endeavours include attracting to Macau a number of conventions and exhibitions, sports events, and entertainment shows.
Regarding sporting events, the Wynn group plans to partner with cities in the Guangdong-Hong Kong-Macau Greater Bay Area “to host both regional and international” events, across a “variety of sports”.
Reaching the community
The Wynn executive said additionally that the group would try to seize opportunities to “support community tourism”, and to explore the “untapped potential” of maritime tourism.
Based on what it called the group’s “significant international network and global partnerships,” Wynn said it was confident it could attract more customers from abroad. The firm said it would expand its sales office network and representative agencies in overseas markets, such as Japan, Singapore, Vietnam, Indonesia, the Philippines, South Korea, Thailand, Malaysia, Canada, and the United States.
“Wynn will also develop regional and international partnerships with airlines that serve both Macau and Hong Kong, as well as explore charter and private flights services for its guests,” said Mr Fullalove during the presentation.
Boosting the volume of foreign visitors was also one of the key requirements for Macau’s six casino concessionaires to fulfil as part of their investment pledge, stated the Macau government.
The Wynn group said on Saturday: “The growth in international visitation to Macau will be supported further by designated areas within the casino space catering to overseas patrons at both the Wynn Macau and Wynn Palace properties.”
Earlier this month, the local authorities said Macau was to create distinct zones on its casino floors and designated gambling chips that will be solely for the use of players from overseas. The moves will be part of a new gaming tax system to come into effect from January 1, with the start of the fresh concessions.
The tax exemption will only be applicable to gross gaming revenue generated by foreigner patrons, namely people from outside either mainland China, Macau, Hong Kong, or Taiwan.