{"id":32842,"date":"2015-11-19T14:00:29","date_gmt":"2015-11-19T22:00:29","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=32842"},"modified":"2015-11-19T14:06:54","modified_gmt":"2015-11-19T22:06:54","slug":"wynn-palace-macau-opening-delayed-over-gaming-tables","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/wynn-palace-macau-opening-delayed-over-gaming-tables\/","title":{"rendered":"Wynn Palace Macau Opening Delayed, as Angry Mogul Waits for His Tables"},"content":{"rendered":"
\"Wynn
Steve Wynn\u2019s Wynn Palace Macau is proving to be big trouble in Little China for the casino magnate. (Image: ggrasia.com)<\/figcaption><\/figure>\n

Wynn Palace Macau, the $4.1 billion mega-resort currently under construction on the Cotai Strip<\/a> in the Asian gambling region, is running three months behind schedule. Wynn Resorts said this week that the property will now open on June 25, 2016, due to construction delays.<\/p>\n

In a statement Wednesday, Wynn declined to mention whether it was the completion of the resort\u2019s 15,000 hotel rooms that was causing the hold up (after all, that\u2019s a lot of soft furnishings) or some kind of drainage issue with the 30,000-square-meter performance lake.<\/p>\n

What\u2019s clear is that, for now, the gondolas, shaped like fire-breathing dragons, will remain berthed until early summer and the aquatic performers will have to wait to get their feet wet. Fortunately, we hear there\u2019s plenty of other work for gondoliers down at Sheldon Adelson’s competing Venetian Macau, albeit perhaps in different national costumes.<\/p>\n

Wynn\/Lose Situation<\/h2>\n

It\u2019s a frustrating situation for Steve Wynn, who committed to plowing billions of dollars into the project at a time when Macau was experiencing an unprecedented boom and could apparently do no wrong.<\/p>\n

Since then, however, the casino mogul has witnessed economic meltdown in the gambling hub. A corruption crackdown from Beijing, accompanied by a slowing of the Chinese economy, has disrupted the VIP junket economy<\/a> and sent casino revenue in the region spiraling for 17 straight months.<\/p>\n

Last month, Steve Wynn\u2019s exasperation with Macau\u2019s bureaucratic system boiled over during a conference call to discuss the company\u2019s Q3 results. The source of his ire was the Macau government\u2019s refusal to tell him how many table games it will allocate for the Wynn Palace\u2019s gaming floor.<\/p>\n

It’s set up for 500, which is the amount Wynn is hoping for so he can see a return on his investment. But the Macau has been frugal with its allocations at recent properties, bowing to Beijing, which is apparently only concerned that new properties produce a sufficient quota of non-gaming attractions.<\/p>\n

“The reason these extraordinary nongaming attractions exist is because the damn casino is the cash register,” fumed the billionaire. “We’re telling people to come to Macau, but they can’t gamble.”<\/p><\/blockquote>\n

\u201cLudicrous Situation\u201d<\/h2>\n

Wynn complained that the government\u2019s opacity means that the company is in the dark about how many staff members to hire or dealers to train. Macau\u2019s bureaucracy was “outrageous and ridiculous \u2026 a mystical process,\u201d said Wynn, “the most ludicrous decision that I’ve seen in my 45 years of experience.”<\/strong><\/p>\n

The recently opened Studio City property received permission for 250 gaming tables and it\u2019s believed that the Wynn Palace is likely to receive a similar amount.<\/p>\n

According to analysts at Union Gaming Securities Asia Ltd., there are only 1,097 tables left under the table games cap for the Cotai Strip, and, with three additional large resorts scheduled to open in 2016, it\u2019s all about the math.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Wynn Palace Macau, the $4.1 billion mega-resort currently under construction on the Cotai Strip in the Asian gambling region, is running three months behind schedule. Wynn Resorts said this week that the property will now open on June 25, 2016, due to construction delays. In a statement Wednesday, Wynn declined to mention whether it was […]<\/p>\n","protected":false},"author":42,"featured_media":32850,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21,18],"tags":[],"acf":[],"yoast_head":"\nWynn Palace Macau Opening Delayed, as Angry Mogul Waits for His Tables<\/title>\n<meta name=\"description\" content=\"The Wynn Palace Macau is having construction delays which could push back the opening to June 2016.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wynn Palace Macau Opening Delayed, as Angry Mogul Waits for His Tables\" \/>\n<meta property=\"og:description\" content=\"The Wynn Palace Macau is having construction delays which could push back the opening to June 2016.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/wynn-palace-macau-opening-delayed-over-gaming-tables\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2015-11-19T22:00:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2015-11-19T22:06:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/11\/Wynn-Macau-delays-Steve-Wynn.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"625\" \/>\n\t<meta property=\"og:image:height\" content=\"396\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/wynn-palace-macau-opening-delayed-over-gaming-tables\/\",\"url\":\"https:\/\/www.casino.org\/news\/wynn-palace-macau-opening-delayed-over-gaming-tables\/\",\"name\":\"Wynn Palace Macau Opening Delayed, as Angry Mogul Waits for His Tables\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-palace-macau-opening-delayed-over-gaming-tables\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-palace-macau-opening-delayed-over-gaming-tables\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/11\/Wynn-Macau-delays-Steve-Wynn.jpg\",\"datePublished\":\"2015-11-19T22:00:29+00:00\",\"dateModified\":\"2015-11-19T22:06:54+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"The Wynn Palace Macau is having construction delays which could push back the opening to June 2016.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-palace-macau-opening-delayed-over-gaming-tables\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/wynn-palace-macau-opening-delayed-over-gaming-tables\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/wynn-palace-macau-opening-delayed-over-gaming-tables\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/11\/Wynn-Macau-delays-Steve-Wynn.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/11\/Wynn-Macau-delays-Steve-Wynn.jpg\",\"width\":625,\"height\":396,\"caption\":\"Steve Wynn\u2019s Wynn Palace Macau is proving to be big trouble in Little China for the casino magnate. 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