Full steam ahead for Wynn Resorts as Maddox confirms global expansion ambitions

first_imgIt was also revealed at the AGM that the internal committee looking into allegations of sexual misconduct against Steve Wynn had interviewed more than 100 people and reviewed three million documents as part of its investigation.Discussing Wynn Resorts’ Asian ambitions, Maddox said that the company would add a number of new restaurants and non-gaming amenities as part of its expansion plans at Wynn Palace in Cotai with Phase II plans currently being developed. He added that 22 high-level executives from Japan were currently visiting the company’s Las Vegas base with a view to forming a consortium to bid for a Japanese gaming license in the coming years.Wynn Resorts has similarly grand ambitions domestically, Maddox said, declaring that its Boston Harbor site is not for sale despite having met with two interested parties in recent months and changing its name from Wynn Boston Harbor to Encore Boston Harbor amid ongoing investigations by local regulators.In Las Vegas, Wynn Resorts is powering ahead with construction of new MICE and leisure facilities.“On our golf course here in Las Vegas, we are constructing a 400,000-square-foot convention center right now,” The Las Vegas Review-Journal reported Maddox as saying. “That should be finished in mid-2020.“We’re also working on what we’re going to do with our lagoon,” an area of more than 25 acres “that looks like the Caribbean.“We’re going to have beaches. We’re going to have amphitheaters. We’re going to have the ability for people to participate in water sports and it’s going to be for our hotel guests. My goal for what we do on the golf course is to bring things to Las Vegas that don’t exist.”Work on a brand new integrated resort on the former Alon Las Vegas site purchased from Crown for US$300 million shortly before Steve Wynn’s departure will begin once the convention center and lagoon are complete, Maddox said. RelatedPosts Wynn Resorts to undergo internal restructure as part of refinancing plan Genting’s Resorts World Las Vegas names five key additions to executive team Planning expansion of facilities at Wynn Palace in MacauEyeing consortium with Japanese partners with 22 Japanese executives currently visiting Las VegasNo plans to sell Boston Harbor IRWill construct “next great” Las Vegas IR on former Alon siteInternal investigation into Steve Wynn allegations to conclude in 3Q18Wynn Resorts Ltd CEO Matt Maddox says the company is ready to put the events of recent months behind and continue with its aggressive international and domestic expansion plans following the departure of former Chairman and CEO Steve Wynn in February.Maddox outlined Wynn Resorts’ strategy in the ensuing years during its annual general meeting this week, which included reference to the company’s ambitions for growth in Macau and Japan as well as what he described as “the next great Las Vegas resort” on the 34 acre Las Vegas Strip site purchased in January from Crown Resorts. Wynn Resorts shares favored over Wynn Macau: analysts Load Morelast_img

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