Is there still demand for these mega resort-casinos in Macau? We'll see soon after the opening of Wynn Palace and The Parisian this fall.
Wynn is still keeping its sights set on Macau even as the local government has become more aggressive in limiting gambling growth and cracking down on corruption. If Wynn is looking for even more expansion in the long-term, Macau may not be the best place to look.
MGM Resorts is smart to diversify its portfolio throughout the U.S., and not just to concentrate it in major gaming destinations like Vegas and Macau.
Macau's challenged gaming and tourism industry needs as many good signs as it can get, especially as the destination prepares to welcome two of its newest and biggest developments in the next few months.
Macau is going where the money is with VIP gamblers but it's anyone's guess whether that will end up paying off for the city.
This is certainly welcome news for Wynn and Sands, both of which have mega resort-casinos opening in Macau later this year.
Wynn Resorts, Las Vegas Sands and MGM Resorts all intend to expand in Macau despite strong signals that the boom times may be over, for now at least. It might be time to rewrite the playbook.
It'll be interesting to see if this family-friendly theme park can compete with Disneyland Shanghai--or Disneyland Hong Kong--for that matter.
There are plenty of wealthy Chinese travelers and gamblers with pockets full of cash to spend, as Wynn put it, even as the Chinese economy sees a slow down. Signs already point to Macau's casinos bottoming out and bouncing back.
Macau is an example of an emerging meetings destination that will see U.S. market growth on the backs of its U.S. hotel partners like Sheraton and St. Regis, but the challenges are significant due to the region's reputation as the "Las Vegas of the East."