Steve Wynn Hints at Move to Macau
Wynn Macau
Steve Wynn, the gaming mogul and head of Wynn Resorts, has suggested he is considering relocating his staff from Las Vegas to Macau. Wynn, whilst speaking to Reuters, reaffirmed his commitment to Macau, suggesting that in the next board members meeting he’ll promote the idea of relocating his casino staff to Chinese province. Wynn, who travels to Macau at least once a month, told reporters that he “love(s)” the region, suggesting that he wishes to make Wynn Resorts a "Chinese company”.
Wynn took the time to comment on Macau during the official opening of the Encore resort extension at Wynn Macau – the company’s first foray into the Macau gambling market. Indeed, since first opening in 2006 the Wynn Macau casino-resort has proved a financial success for the entrepreneur and his company: In 2009, Wynn Resorts raised $1.9 billion from a Hong Kong based initial public offering (IPO) on the Macau property.
However, unlike his competitors, Wynn has suggested that he doesn’t wish to expand operations dramatically in Macau. The casino mogul told reporters that he doesn’t think “bigger is better”, instead preferring the idea that “better is better”. Commenting on the financial state of Las Vegas, Wynn referred to MGM Mirage as “poor sons of gun”, suggesting that by opening 6,500 new rooms as part of the CityCenter resort has meant that MGM “has done more damage to themselves than anybody else”.
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