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Wynn to start immediately on Cotai after land grant
The chairman and chief executive officer (CEO) of Wynn Resorts is expecting the government to approve its application for a Cotai site shortly, now that Galaxy Macau has opened.
Speaking yesterday to reporters on the sidelines of a public occasion, Steve Wynn also said it is going to need around 9,000 staff for the new hotel-casino.
“We are waiting for the final approval of the land concession details. We have been told that everything is fine, but the opening of Galaxy has occupied the attention of the government for several weeks, because it’s such a complicated and massive project. Now that Galaxy is open I think things will go quickly,” he said.
Wynn’s new project in Macau is expected to cost over MOP 20 billion. Asked when the construction will begin, the casino magnate replied, “right away, after we get the approval from the government”.
He said the new hotel casino would open within four or five years, which means the end of 2014 or early 2015.
“We’ve got side-work to do in the landfill. Foundations are complicated here and normal construction is extended by six or eight months because of that, as it happened with Encore [hotel],” he explained.
The new project will require around 9,000 employees but Wynn downplayed concerns over the lack of human resources in Macau by claiming he trusts the government’s ‘supportive’ attitude.
“Opportunities to recruit staff will come as we are building the property. People want to work for us. We will have challenges about staffing the place with the best people but we will meet those challenges like we always have.”
“The government, at the end of the day, is very supportive of the success of the [gaming] industry in Macau. As times goes by, I don’t think they will let any of the hotels struggle for lack of employees. They will do what they have to do to make sure hotels are well staffed,” he said.
The CEO did not share details on the future growth of Wynn’s operations in Macau. However, in an interview with Bloomberg, he said the new resort would more than double the operator’s hotel rooms in the SAR.
How to make a large place cosy for a lot of people is the main issue to consider in the new project, according to Wynn, who unveiled some details of the hotel.
“I believe the Cotai [project] is the best work we have done. It’s a departure in many aspects. It has many new things and new approaches to the way the property is presented. I think the public is going to be very excited. It’s very comfortable and user-friendly,” he pointed out.
He continued: “Now that we have nine years of experience in Macau, as you saw with Encore we are learning how to really address the emotional and physical needs of our guests.”
“That kind of insight comes with time and experience. Thankfully we have the experience.”
In the meantime, speaking to the Wall Street Journal, Wynn said his company is not facing any regulatory risk, unlike rival operator Las Vegas Sands, which is being probed by the US authorities.
“We’ve never been investigated by anyone and have no risk of any kind whatsoever,” he said.
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