But the property has been dealing with a \u201csevere handicap,\u201d according to Wynn, namely a construction boom in Macau that has thrown up some \u201crather unique and unprecedented obstacles.\u201d<\/p>\n
Wynn Palace is surrounded by construction sites on all sides, which has cut walk-in traffic. The recent death of a construction worker at the Grand Lisboa Palace, the project being built next door to Wynn\u2019s, meanwhile, has shut construction down for three weeks but is still restricting footfall.<\/p>\n
Wynn announced that a moving pedestrian bridge accessing the property could open with in four weeks.<\/p>\n
\u201cThe completion of (the bridge) will not only be the removal of a negative, but the addition of a positive for the mass market,\u201d Wynn said. \u201cThe mass market is really affected by the physicality of the neighborhood because the mass market has a lot to do with access.\u201d<\/strong><\/p><\/blockquote>\nParadise Park Takes Shape<\/strong><\/h2>\nWynn spoke enthusiastically of plans for the company\u2019s new $1.5 billion Las Vegas project, Paradise Park, which is scheduled to break ground later this year, or in early 2018.<\/p>\n
Designers were adding \u201cfinal touches\u201d to plans for the project, which will include a 38-acre lagoon hosting water sports surrounded by white-sand beaches, a convention facility and new hotel rooms. It will be built on the site of the Wynn Golf Club, just off the Strip.<\/p>\n
\u201cThat area is the most precious piece of real estate in the whole resort industry in Las Vegas,\u201d Wynn said. \u201cThe conversations I\u2019ve had have been very exciting and gives me a lot of optimism about how we will continue over the next four to five years.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Strong performances for Wynn Resorts in Macau and Las Vegas boosted the firm\u2019s Q2 revenues beyond analysts\u2019 expectations, but profits fell just short of projections. In an earnings call Wednesday, Wynn Resorts said revenue was $1.53 billion for the quarter, beating the $1.45 billion predicted by a survey of 13 Wall Street specialists. Meanwhile, profit […]<\/p>\n","protected":false},"author":42,"featured_media":55389,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\n
Wynn Resorts\u2019 Strong Performance Not Strong Enough for Investors<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n