Macau (MNA) – Wynn Macau Limited is planning to build two new hotels in Cotai adjacent to its property Wynn Palace, totalling some 1,371 rooms, with construction expected to start in 2020.
Matt Maddox, the CEO of Wynn Resorts, Limited and Wynn Macau, made the statement during a conference call following the company’s announcement of its nine-month results on Thursday.
According to Mr. Maddox, the plan would allow the company to reach the some 3,000 hotel rooms it claims it needs in Macau to “zoom over US$1 billion [MOP8.06 billion] in EBITDA.”
Wynn Palace currently has 1,700 guest rooms.
Maddox added during the call that the company will be “working through 2019 on the permitting, finalising the design, getting everything together and beginning construction in 2020.”
On a seven-acre site in the Palace property, the company is contemplating and stated it has designed a 671-room all-suite hotel.
This hotel will be connected to the ‘Crystal Pavilion’ – a “large” glass structure inspire din the Vatican’s Michelangelo programme with a theatre, which is going to house various non-gaming features – with a bridge going over to the Lisboa Palace.
In addition, on another four-acre parcel located north of Wynn Palace’s property, the company claims it is working on a 700-room all-suite hotel that will be connected into the north side of Wynn Palace.
“We’re very excited about the future of Macau. We have a lot of great things. We plan on presenting this concept in the next couple of months,” said Mr. Maddox representing the company which had so far spent some US$7 billion worth of investment in Macau since the gaming liberalisation in 2002.
“As we talked about this year, we’ve been working on how are we going to grow in Macau and continue to innovate because we believe it is the best place on the planet to invest in the integrated resort business,” he added.