Wynn Palace Cotai News

In addition to holding the most FTG Five-Star awards of any independent hotel company, Wynn Las Vegas, Encore Las Vegas, and Wynn Palace also remain the three largest FTG Five-Star resorts in the world for the second consecutive year.

Formerly the executive chef of Mizumi at Wynn Palace Cotai, Min Kim brought his traditional Japanese training and experience to Las Vegas and created an authentic and expansive menu of Far East favorites.

Operating revenues were $953.7 million for the first quarter of 2020, a decrease of 42.3%, or $697.8 million, from $1.65 billion for the first quarter of 2019.

With 19 collectively across its global portfolio, Wynn Resorts has the most FTG Five-Star awards of any independent hotel company.

The company announced its net revenues from properties in Las Vegas, Macau and other locations.

Wynn spent roughly $63.8 million to acquire more than 1 million shares of Wynn Resorts Ltd.

Casinos collected $2.1 billion from gamblers in November, 32.3% less than a year ago, Macau's Gaming Inspection and Coordination Bureau said Tuesday.

Casino operators have budgeted almost $27 billion on new developments in Macau, despite the fact that Macau gaming regulators are expected to announce this week that November was the region's 18th straight month of revenue declines.

The revised opening date for the $4.1 billion Wynn Palace, now three months behind schedule, is now June 25, 2016.

Las Vegas Sands Corp. saw revenues decline in Macau, but had a positive quarter in its other markets.

The founder and CEO of Wynn Resorts went on a "tirade" against Macau's gaming regulators in a conference call with analysts last week.

In light of the effect of the government's corruption crackdown on high-end baccarat revenue, the Beijing government may take measures to support the Macau economy on the mass-market side.

This marks the 16th uninterrupted month of revenue decline for the beleaguered gaming hub.

The junket operators, which have long been suspected of being affiliated with organized crime, have come under extra scrutiny during the Chinese government's crackdown on corruption.

Despite 14 straight months of revenue decline, both for the Macau market generally and for Las Vegas Sands, Adelson says expects his company to "grow and prosper."

While the company did still turn a profit, it reported a 19.4 percent decline in revenues and a 30.1 percent decline in profits from last quarter.

This June was the 13th straight month of declining gaming revenue in Macau, but there was still good news to be found.

The company's credit agreement increased to $1.55 billion in addition to a $1.45 billion revolving line of credit, with the maturity date extended to 2019.

Macau development continues unabated with three new casino properties on the horizon.

Macau Chief Executive Fernando Chui told lawmakers on Monday the Special Administrative Region had entered an “adjustment” period of slower and stable growth.