Wynn’s $4.2 Billion Casino in Macau takes a slow start

By | August 30, 2016

Wynn’s $4.2 Billion Casino in Macau takes a slow startThe newly launched Wynn’s $4.2 billion Casino Resort is on track with a slow start. An analyst watching and tracking the casino’s first few days of activity said that Wynn is attracting a number of new tourists and may be taking business from local rivals.

Grant Govertsen, a Union Gaming Analyst said that Wynn Casino and Resort is attracting less number of visitors and players and he think is a bit “slow start” for the casino, comparing to other recent openings in the city. Govertsen researched the data of the Wynn casino for their first day’s activity.

According to research Wynn is getting a marginal increase in their player base in the mass market of Macau, but their VIP business in this Chinese market is remained flat.

Praveen Choudhary, an Analyst of Morgan Stanley said that it might be possible that the VIP players of the casino are turning out to this new casino from their older one in the city.

Wynn Casino is one of the most expensive casino properties in this Chinese city i.e. in Macau. It is owned by a billionaire Mr. Steve Wynn, and was open for business on August 22, 2016. Not to forget that the gambling business is not doing well in Macau since last 26 Months, but despite the market not doing well in Macau Wynn’s casino was opened for public in August.

One of the main reasons why gambling revenue of Macau casinos are shrinking down, is because of the Chinese government strike on corruption. The government officials are looking at VIP players and business of the casino working in Macau.

The Resort has 1,700 rooms featuring floral sculptures that move and a $100 Million fountain show for visitors. The Resort also offers a spa of $450 facial using gold leaf.