Wynn Macau Ltd is spending up to US$250 million this year on concession-related investment commitments made to the Macau government, including upgrades to the hotel tower at its Wynn Macau property (pictured) downtown and on its Wynn Palace resort on Cotai.
That is according to Julie Cameron-Doe, chief financial officer of the parent, Wynn Resorts Ltd, speaking on the group’s second-quarter earnings call on Thursday.
She stated: “We’ve initiated two projects – an expansion of the Chairman’s Club gaming area at Wynn Palace, and a refresh of our Wynn Tower [hotel] rooms at Wynn Macau, and together with our other ongoing capex projects, we expect to spend a total of US$200 to US$250 million in total for 2025.”
Analysts Anne Ling and Jingjue Pei of Jefferies Hong Kong Ltd observed in a Thursday note: “[Wynn] Management expects minor disruption towards the end of the year for these projects. However once completed, they would enhance its offerings to premium customers.”
The casino group also hopes by “early 2028” – subject to Macau government approvals – to complete an “event centre” on a parcel of land at the north end of its Wynn Palace site, said group chief executive Craig Billings.
He added that Macau had shown that large-scale arena-based events “similar to in Las Vegas … tend to affect everybody in the market” in a positive way, in terms of driving visitor volume and engagement.
“We also recognise that we need the capability to drive entertainment …. the largest component of our [Macau] concession commitment is actually an event centre and we’re well underway with engineering and design of that event centre,” stated Mr Billings on the call.
He added: “It’ll be on the north parcel of land that sits there adjacent to the main entry to Wynn Palace. And we’re excited about it because it will allow us to programme great entertainment and drive visitation.”
The group has earmarked between US$450 million to US$500 million for Macau-concession related capital expenditure in 2026, according to an investor presentation issued along with the second-quarter results.
The list of concession-related projects includes “Wynn Palace Event and Entertainment Center,” and “Wynn Palace Theater and Resident Show”.
Mr Billings mentioned on the call, that for Wynn Al Marjan Island, its under-construction new resort in the United Arab Emirates (UAE), the tower had already reached the 61st floor, and the company was “on track to top out the tower later this year”.
He added: “We’ve also finalised several important food and beverage partnerships and agreed to key terms with a number of high profile retail tenants.”
The CEO affirmed that its recent purchase of a boutique casino in Mayfair, London, in the United Kingdom, would be a key element in marketing the new UAE property to clients from the Middle East.
