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Wynn Macau has received approval from the Macau government to proceed with a major expansion of Wynn Palace, paving the way for a new luxury hotel tower, theatre and events centre at its Cotai integrated resort.
The government has approved revisions to the property’s land concession, allowing Wynn Macau to develop The Enclave at Wynn Palace, a 432-suite hotel tower that forms part of the operator’s wider non-gaming investment commitments under its current Macau gaming concession.
As part of the approval, Wynn Macau has paid an additional land premium of MOP652.3m (US$80.7m). Construction is expected to begin later this year, with the project scheduled for completion within five years.
Wynn Resorts estimates the total investment at between US$900m and US$950m. The development will not include any additional gaming space, instead focusing on expanding the resort’s luxury accommodation and entertainment offering.
Once completed, the project is expected to increase Wynn Palace’s total room inventory by approximately 25 per cent and boost its suite capacity by around 50 per cent, while the new theatre and events facilities are intended to strengthen Macau’s appeal as an international tourism and entertainment destination.
The expansion forms part of Wynn Macau’s commitment to increase investment in non-gaming attractions following the renewal of its Macau gaming concession in 2022, supporting the government’s strategy to diversify the territory’s tourism economy beyond casino gaming.
