An overpass bridge will be built in 2020 linking the integrated resorts Lisboa Palace and Wynn Palace, the chairman of the board of directors of SJM, Ambrose So, confirmed.
“It’s true, as we’re always good neighbors. In Grand Lisboa we have an underpass going to the Wynn [Macau]. Here we have an overbridge,” So said yesterday on the sidelines of an event, adding that gaming operators are confident that they will be granted another concession, despite not having received any official indication from the government.
“There’s no guarantee from the government […] but we are confident on the future of Macau and this is the right thing to do,” he said.
Commenting on the legal ruling by the Court of Second Instance, which ruled that Wynn Macau is partially responsible for ensuring that the debts of Dore Entertainment are repaid, So implied that the arrangement between the junket operation and the concessionaire should be clearly stated.
“It is too soon to judge to say categorically whether the junket operation’s responsibility should be passed onto the concessionaire. It depends on the detail of the arrangment”
In 2015, Dore was victim to an internal theft by a casino cage manager who stole money from the junket operator, which was operating within Wynn Macau. The culprit was ordered by the courts to repay some MOP103 million in funds owed to Dore in 2016.
“There will be guidelines from the government as well and some regulations will also be [introduced],” said So, when questioned whether gaming operators should be more cautious in working with junkets.
Wynn planning two-tower expansion in Cotai
WYNN MACAU plans to expand its Cotai property by building two new towers, adding an additional 1,300 rooms and opening a new theater that will host three shows created specially for Wynn Palace. The news comes as Wynn Resorts reported strong third-quarter results, earning USD1.3 billion U.S. dollars (MOP10.48 billion) over the three-month period, about 20 percent more than in the same quarter of 2017. The company also saw its casino revenues rise 40 percent year-on-year, while non-gaming revenue grew similarly by 35 percent. However, shares in the U.S.-based company plunged 15 percent yesterday – despite the strong posting – after chief executive officer Matt Maddox warned that Macau might be facing a “slowdown” in the post-Golden Week period.
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