Wynn Palace To Perform Well Despite Reduced Gaming Tables

Wynn Palace Cotai MacauThe Chief Executive and Chairman of Wynn Resorts and Wynn Macau Ltd; Steve Wynn has made a statement that the company is least bothered about the lower amount of gaming tables for its Wynn Palace Integrated Casino Resort which is priced at US 4.2 billion dollars.

The MSAR (Macao Special Administrative Region Government) has provided Wynn Palace with new gaming tables which are just 150 in number. Out of 150 tables, 100 will be presented to the casino next week and the remaining over two year period. It is interesting to note that the rival casino groups of Wynn Palace like Galaxy Entertainment Group and Melco Crown Entertainment Ltd have been authorised 250 tables each which are 100 more than what is provided to Wynn. Melco Crown's Studio City was opened in Oct 2015 while Galaxy Phase III was opened in May 2015.

Wynn Palace

Talking to the media, the Chairman Steve Wynn has said:

The focus should not be on the amount of tables but the amount of people that are here. When you have less [gaming] equipment than more equipment, you tend to have higher utilization. I expect we would be fine. We’ll find out what that is after the opening.

According to Wynn, out of 150 gaming tables, 50-60 will be made available to the VIP gamers. He also mentioned that the company had a requirement of only 280 casino tables against the demand of 400 tables. But now with only 150 tables allotted to them, there is a shortage of 130 gaming tables. To overcome this deficit, the company is going to transfer 100 tables from Wynn Macau property, and it has already got approval for making this shift from its Peninsula territory to its new locality. Now Wynn Palace is going to have a total count of 350 casino tables on its opening day.

The Chairman has further stated that the shortage in authorising 130 tables was because of a government cap. The new gaming tables are approved by the local administration based on the principle of compound annual growth rate which is less than 3% over ten year period commencing from 2013.

After the opening of Wynn Palace, the company is confident that the non-gaming revenue will hit an upward trajectory. Chairman Wynn has said that higher income is expected because of the rise in rooms, restaurants as well as other retail facilities. There will be 1706 new rooms in the Wynn Palace distributed over an area of 2440 sqm. M for holding all sorts of events. Apart from that, there will be other features available like Performance Lake and SkyCab which is a cable car service.

The casino operators have been asked to increase and diversify the volume of non-game based revenues by the MSAR Government. The Wynn Chairman has said that apart from the theme parks and shopping areas, exclusive services like for example specially designed medicine clinics could be an enticing feature of Macau. According to Wynn the second phase of the project will be built in due course of time but the time has not been decided yet.

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