Wynn Resorts CEO Matt Maddox says the company’s Macau subsidiary, Wynn Macau Limited, will present plans for its empty seven-acre parcel of land located alongside Wynn Palace in Cotai to the Macau government before the end of 2018.
Releasing extensive details of the project for the first time during the company’s second quarter earnings call on Thursday, Maddox stipulated that the new property would be an entertainment-focused development with a number of innovative theater and dining concepts as well as “gaming attractions.”
“I’ve assembled a team of some of the most creative people on the planet and we’re in full swing planning our entertainment-focused development,” Maddox said.
“The entertainment center will have various whimsical, immersive features taking into account what we’ve learned from our Prosperity Tree in Macau in the Lake of Dreams here in Las Vegas and amplifying it.
“The project is going to have indoor gardens, it’s going to have waterfalls, we’re working on a theater concept and a new food hall that’s going to focus on seafood, the best seafood that anyone can find in that region and it will be a culinary destination for Macau.”
Maddox named leading theatrical designer Michael Curry – whose work includes Cirque de Soleil and multiple Olympics opening and closing ceremonies – and famed Hollywood director Kenny Ortega among those currently working with Wynn on development of its entertainment concepts.
“We know that our premium customers like these attractions,” he said.
“We’re really excited to continue to develop this and we plan on completing the proposal in the fourth quarter to show to the Macau government. We’re excited about adding world renowned gaming attractions to Macau.”
According to AIG, Wynn’s Cotai expansion plans were boosted by the company’s 2Q18 results, released early Thursday Macau-time, which saw Wynn Palace notch a 56.6% year-on-year increase in revenue to US$620.6 million.