November 25, 2007He helped Las Vegas shed its image as a sleazy gambling capital and make inroads as a family holiday destination, and his top-notch hotel restaurants have put Sin City on the culinary map.
Now tycoon Steve Wynn has his sights firmly trained on expanding his business in the former Portuguese colony of Macau as he looks to scale the next high point of what has been an already heady career.
Posted in Cotai Strip, Macau Business, Steve Wynn, Wynn Cotai, Wynn Resorts 
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November 1, 2007The results from Wynn Resorts’ third quarter were great. Operations in Macau are kicking it up a notch, and the flagship Las Vegas hotel is likewise performing well. Too bad investors were already expecting all that — and more.
The business
Net revenue for the third quarter more than doubled, thanks largely to a full quarter of operations from Wynn Macau. Adjusted property EBITDA (EBITDA adjusted for expenses such as stock-based compensation and pre-opening expenses) grew even faster, and increased as a percentage of revenue from 25.0% to 28.5%.
Posted in Cotai Strip, Las Vegas Sands, MGM Mirage, Macau Business, Macau Casino, Steve Wynn, Wynn Macau, Wynn Resorts No Comments »
October 31, 2007Billionaire casino developer Steve Wynn criticized former Chinese leader Mao Zedong, as he told more than a thousand investment advisers at a conference that the communist revolutionary’s Cultural Revolution was “imbecilic” and “almost ruined” the country.
The chief executive of Wynn Resorts spoke during a question & answer session at the Charles Schwab IMPACT 2007 conference.
Posted in Macau Business, Macau Casino, Steve Wynn, Wynn Macau, Wynn Resorts No Comments »
August 20, 2007When America’s largest casino companies looked at the world’s emerging gambling scene, it wasn’t Pennsylvania where they placed their biggest bets.
Instead, MGM Mirage Inc. and Wynn Resorts Ltd. are pouring money into Macao, a tiny peninsula on the southeastern tip of China.
Posted in Cotai Strip, Las Vegas Sands, Sands Macau, Steve Wynn, Venetian Macao, Wynn Macau No Comments »
August 13, 2007Macau has transformed from being a sleepy backwater to the world’s foremost gaming centre in the space of a few years since it opted to open its casino business to more operators.
Billions of dollars in investment from foreign casino magnates have poured in, giving it an international reputation as offering money-making opportunities in a host of economic sectors. These foreign-invested projects are changing the face of the city, which was once dominated by a few local tycoons with intricate business and social ties.
Posted in Edmund Ho, Macau General, Social and Politics, Stanley Ho, Steve Wynn No Comments »
March 29, 2007Six months ago I witnessed Stanley Ho announce a deal to partner with Steve Wynn on the Hong Kong airport-to-Macau helicopter concession.
During the Wynn Macau preopening banquet, Ho stood up in front of the assembled dignitaries and made a big deal out of the supposed partnership.
Posted in Grand Lisboa, Macau Business, Macau Casino, Macau News, Stanley Ho, Steve Wynn, Wynn Macau, Wynn Resorts No Comments »
February 28, 2007Austal and New World First Ferry Services (Macau) Limited (First Ferry (Macau)) have announced the order of two new high-speed catamarans for operation between Macau and Tsim Sha Tsui, Hong Kong.
With five Austal 47.5 metre high speed passenger catamarans already in service in the New World First Ferry fleet these new ferries will be near copies of the proven design, optimised for service speeds in excess of 42 knots and the comfortable carriage of 418 passengers with high quality passenger amenities.
Posted in Infrastructure, Macau Business, Macau General, Macau Tourism, Steve Wynn, Travel No Comments »
February 28, 2007Wynn Macau Generates Adjusted EBITDA of $58.5 Million in the Fourth Quarter and $60.8 Million in the 117 Days since Its September 6, 2006 Opening. It successfully opened Wynn Macau on time and on budget on September 6, 2006 and continued construction of Phase II of Wynn Macau, which is expected to open in the third quarter of 2007.
Net revenues for the fourth quarter of 2006 were $563.6 million, compared to $269.4 million in the fourth quarter of 2005. Results for this quarter include a full quarter of operations for Wynn Macau, which opened on September 6, 2006. Net revenues for 2006 were $1.4 billion, a 98.5% increase over 2005. The revenue increase was driven primarily by the opening of Wynn Macau in 2006 and a full year of operations for Wynn Las Vegas (versus 248 days in 2005).
Posted in Cotai Strip, Macau Casino, Macau News, Steve Wynn, Wynn Macau, Wynn Resorts No Comments »
