Wynn Resorts CEO Craig Billings details the company's growth plans, emphasizing the potential of Al Marjan and other key projects.
Casino developer Wynn Resorts Ltd. said preparing for its property in the United Arab Emirates and a possible bidding for a casino in Thailand are currently top of their pipeline.
““There are also opportunities that come along that are unique, so if Thailand does move ahead, for example, you want to make sure that you’re in a position to participate.,” Craig Billings, Wynn chief executive sid in an earnings call.
Wynn CEO Craig Billings described the company's current opportunities, highlighting Al Marjan as a primary focus. He noted the substantial land bank there, drawing a parallel to the power of such land banks in Macau during the mid-2000s.
Billings acknowledged Wynn's activity in Thailand, though emphasizing it's still early stages, and their involvement in New York, where they are taking a disciplined approach.
He also pointed to a significant land bank in Las Vegas, suggesting years of future growth potential. However, Billings reiterated that the immediate focus is Wynn Al Marjan, characterizing it as a brand-new, multi-billion dollar market representing a tremendous opportunity.
Thailand is currently working to legalize casinos, with parliamentary talks under way after the government approved the bill in principle last January 13.
Casino and Integrated Hotel stakeholders have welcomed this development, with Wynn at the forefront of possibly bidding for an IR space in the Land of Smiles.
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