19 international operators compete for government approval
(Singapore).- Wynn President Ronald Kramer said that Wynn Resorts Ltd., the Las Vegas based casino company headed by Stephen Wynn, is offering to spend as much as us$1.5 billion to win the right to build and run Singapore’s first casino.
Wynn Resorts Ltd. offering to spend as much as us$1.5 billion to win the right to build and run Singapore’s first casino
The proposal, one of 19 competing for government approval, will be an “iconic”’ design that would cost more than twice the $700 million earmarked for a casino it’s building in southern China’s Macau, Kramer said.
Wynn Resorts, MGM Mirage and Las Vegas Sands Inc. are among companies that gave designs to Singapore’s government, which will announce in April whether it will end a ban on casinos to lure tourists and gamblers. The island is within six hours flying time for more than 2.5 billion people in Asia.
“The quandary is whether Stephen Wynn is able to convert his casually elegant Las Vegas-oriented architecture to the kind of design architecture that the Singapore government is seeking,’’ said Jonathan Galaviz, a partner of Galaviz Ong & Co., which tracks the global gaming industry.
Kramer said the Singapore development will complement other properties in the city, declining to elaborate for competitive reasons. It will be consistent with the “contemporary” design of the $2.7 billion resort Wynn Resorts is opening in Las Vegas next month, he said.
Wynn Resorts, Limited (Nasdaq: WYNN) is traded on the Nasdaq Global Select Market under the ticker symbol WYNN and is part of the S&P 500 Index.
Wynn Resorts owns and operates Wynn Las Vegas (wynnlasvegas.com), Encore Boston Harbor (encorebostonharbor.com), Wynn Macau (wynnmacau.com) and Wynn Palace, Cotai (wynnpalace.com).
Wynn and Encore Las Vegas feature two luxury hotel towers with a total of 4,748 spacious hotel rooms, suites and villas, approximately 192,000 square feet of casino space, 22 dining experiences featuring signature chefs and 11 bars, two award- winning spas, approximately 290,000 square feet of meeting and convention space, approximately 160,000 square feet of retail space as well as two showrooms; two nightclubs, a beach club and recreation and leisure facilities. Wynn Las Vegas recently unveiled the new Wynn Golf Club and 18-hole, 129-acre championship golf course, and in February 2020 will debut a 430,000- square-foot meeting and convention space expansion powered by 100 percent renewable energy.
Most recently, Mr. Wynn was Chairman of the Board, President and Chief Executive Officer of Mirage Resorts, Incorporated and its predecessor from 1973 to 2000. In that role, he was responsible for the development of Bellagio, The Mirage, Treasure Island at The Mirage and the Golden Nugget in Las Vegas, Nevada as well as the Atlantic City Golden Nugget in New Jersey and Beau Rivage in Biloxi, Mississippi.
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