'Wynn Palace', Macau's Most Expensive Casino
Billionaire and president of Wynn Resorts, Steve Wynn, has developed some of the best-known casinos in Macau and Las Vegas over…When casino gambling was prevalent in Macau, Win Resort decided to develop Win Palace in the Kotai district, and since then, Win Resort has had many difficulties developing and launching new casinos. The biggest difficulty was the collapse of the Macau gambling industry due to Chinese President Xi Jinping's anti-corruption crackdown. Since then, Macau's casino industry has recorded a drop in sales for months in a row as the VIP gambling sector collapsed.
The Macau government also instructed casino operators to diversify their out-of-game operations and make them family-friendly. Steve Wynn has a different view, and recently Wynn Palace said that it is not a place for children to visit because there are better places to visit than Macau or Las Vegas.
Wynn Palace Casino has developed a variety of high-end products aimed at the market segment over the age of 21. The company invested more than $200 million in Chinese antiques and art, including the rare quartet of 18th-century Qing vases located throughout the real estate. More than $100 million has been invested to develop Performance Lake with synchronous water shows. Casino visitors will also be able to enjoy SkyCabs, an air-conditioned gondola that runs around the performance lake.
Win Palace has a total of 1,706 luxury hotel rooms and villas, large conference space, $450 gold leaf facilities and Opulent Spa, which offers 18,580 sq m of space with the biggest name in retail. Visitors will also be able to see the mini Eiffel Tower, which is part of the real estate.
Macau's gaming regulator has granted Win Palace only 150 gaming tables, 100 of which will be available during the launch and the remaining 50 will be allocated over the next two years. Wynn Resorts hired only 100 tables and was not abandoned by low table allocation, saying it would move 250 tables from a Wynn Macau casino to a new building.
MGM CEO James Muren and Las Vegas Sands President Sheldon Adelson remain positive that Macau's casino industry is in recovery mode, but Steve Wynn is even more skeptical. Wynn said in a statement, "The last two places that opened didn't grow the market, did they? No. Can I get here? Good question.