It was announced that the $4.2 billion casino project Wynn Palace has received an approval to run 150 gaming tables and 1,145 slot machines.
According to a statement of the Macau’s Secretary for Economy and Finance Lionel Leong , there will be 100 tables available at Wynn Palace when it open doors for visitors. The other 50 are to be allocated within two years. The number of available tables will increase to 125 on January 1st, 2017. The remaining 25 tables will be allocated on January 1st, 2018, which seriously limits the further development of the resort. The mega resort is slated to open on August 22nd and it is located on Cotai Strip in the Asian gambling Mecca Macau.
The company announced that the aforementioned 150 tables are just a third of the 400 tables they have requested. In comparison, Melco Crown Entertainment and Galaxy Entertainment Group received an approval for the installation of 250 tables in their new casino resorts. In addition, Macau authorities stated that the tables available at Wynn Palace will be for mass market players only.
According to the statement of Michael Weaver, company’s spokesman, Wynn Resorts was satisfied with the number of approved tables. The decision itself was based on the 3% table growth in Macau-based venues projected for the period 2013 – 2022.
The anti-corruption campaign of the Chinese government made high rollers choose another gambling destination, which led to record revenue declines. According to the majority of market analysts, the only method for compensating for the considerable slump in revenues was focusing on the mass market players. This is largely the reason why Wynn Palace will not feature high roller tables.
According to analysts, there is a huge uncertainty over the number of tables that will be allocated to Sands China and MGM China Holdings’ properties. Operators are enabled to transfer tables from their older properties to the new ones, but the policies imposed by the Macau gambling authorities clearly indicate that there will be further restrictions related to the VIP business.
Nevertheless, gambling analysts remain hopeful that Wynn Palace could apply for more tables after January 2018, but now, the important thing was to gain clarity on how the future table allocations would be dealt with.
Wynn Palace is the second Macau-based property, owned by the casino mogul Steve Wynn. According to released information, the resort will feature an immense number of retail, food and beverage options as well as a 1,700-room hotel, a spa and other recreational facilities. SkyCabs will be available for visitors who would like to travel across the performance lake that is said to be yet another attraction on the resort premises.
