Wynn Resorts’ new chief executive, Craig Billings, recently conducted first interview since his appointment in November last year.
Billings spoke of having a positive view of the company’s business endeavours in Macau. This is despite the many losses the company had recently suffered in the Chinese region.
For Billings, his optimism about Macau is rooted in what he describes as change and diversification being exciting to him. He regards Macau as a region of promise, even if that promise happens to be connected to a larger focus on non-gambling amenities.
Macau Still a Land of Potential
Despite the many challenges created by the global health crisis, Wynn Resorts continues to operate two gambling locations in Macau. These are Wynn Palace and Wynn Macau.
While in the past, the largest chunk of the company’s income had been generated in Macau, the global health crisis changed everything. Travel and health and safety restrictions had a negative impact on the region and more people opted to play at online casinos instead.
This situation ultimately led to Wynn’s Macau-based gaming venues running at a collective loss by the end of 2021. But according to Billings, the operator continues to have big plans for the region, including non-gambling projects.
Wynn also plans on launching a massive new $2 billion casino and resort in the UAE. This means expansion into exciting new markets for the gaming giant. The new development will be built on Al Marjan Island, and will feature, among other things, a state-of-the-art and modernised casino floor accompanied by 1,200 luxury hotel rooms.
Al Marjan is an artificial island situated in the UAE region of Ras al-Khaimah. The development will include an exclusive spa, mall, and a luxury convention centre, and is set to open in 2026.
Non-Gaming Part of the Future
Wynn will continue its focus on new projects also in the United States, explained Billings. And this, too, will include non-gaming projects.
To this end, Billings said the company intends to focus on a younger market, as younger entertainment-seekers tend to be more willing to spend.
This strategy proved highly successful in Las Vegas, Nevada, where Wynn now owns gambling and non-gambling venues. The club “Delilah” forms part of this and focuses on younger customers.
Billings has revealed plans of launching several more pop-up stores, with brands like Chanel and Gucci already on board. There will also soon be a new show called Le Reve coming to Las Vegas. The show will be based on a storyline created by comic book writer Sue DeConnick and promises to be a magical experience.
Macau, however, remains firmly on the table for Wynn Resorts. According to Billings, Wynn plans on tapping also into non-gaming prospects in Macau. This would be in line with new government regulations now imposed on local operators in the region.