Wynn Makes $4.2 Billion Macau Bet on His Most Expensive Casino Yet
Casino tycoon Steve Wynn is nothing if not a showman.
The SW Steakhouse, a signature restaurant at his new 1,700-room, gambling resort in Macau, features a 25-foot video screen. As diners dig into their rib eyes, King Kong peeks from behind a window and a giant gorilla hand reaches out to grab a banana.
The Wynn Resorts Ltd. chief executive officer is also a storied risk-taker. His new property, the Wynn Palace, is his most expensive casino yet—a $4.2 billion wager that the former Portuguese enclave will shake off a two-year slump that’s driven down betting revenue by 36 percent and re-emerge as a first-tier vacation spot for gamblers all over Asia.
“If you’re in Bangkok, or Tokyo, or Seoul, the idea was that Macau will become, for the entire Pacific region, the destination resort city,” said Wynn, 74, during a wide-ranging interview ahead of his resort’s opening on August 22. – READ MORE