Gaming | Wynn discloses extra retail, dining floor on peninsula property

There will be two new restaurants and “approximately 7,000 square feet of additional retail space” at the Wynn Macau as part of its Lakeside Casino expansion, the gambling concessionaire disclosed in its Annual Report for the financial year 2020.
In the report, the resort operator reiterated that the Lakeside Casino project had two phases, the first of which opened in November 2019, featuring 44 mass market gambling tables and a refurbished high-limit slot area.
The company went on to reveal that the second phase of the project, “which is substantially completed”, is expected to open soon. “We expect to open portions of the second phase in the first half of 2021 depending on market conditions and other factors,” Wynn Macau stated in the report.
However, the company did not disclose which portion of the project’s second phase will be opened.
The company previously announced that the lawn on the south side of its Cotai property, the Wynn Palace, will be the basis on which to launch certain expansions, such as a complex shaped like a lotus flower.
The complex will include “an array of non-gaming amenities such as event space, interactive entertainment installations, food and beverage offerings,” as stated in the report.
As part of the expansion, there will be extra hotel rooms, according to the resort operator.
Nonetheless, the enterprise “[does] not expect to incur significant capital expenditures related to the construction of this project in 2021.” The company pledged that it will continuously monitor the situation and condition in the markets in which it operates and will resume major project capital expenditures in the future.
The resort operator reported a loss of HKD7.22 billion in 2020. AL