Thursday, November 19, 2015

Wynn Palace Opening Date now June 25, 2016

Wynn Palace, the new $4.1 billion dollar resort being constructed on the Cotai Strip in Macau has moved its opening date to June 25, 2016 pushed back from the original announced date of March 25, 2016.

Wynn Resorts issued a press release stating, "it was notified today by its general contractor, Leighton Holdings Limited, that the Wynn Palace project in the Cotai area of Macau will not be ready to open by the projected early completion date."

Recently Steve Wynn expressed frustration with the Macau government over uncertainty about the number of table games the company would be granted at Wynn Palace.

The Studio City development recently opened in Macau, but early reports indicate it hasn't done much to improve city-wide gaming results.

A three month delay in the opening of Wynn Palace probably won't mean much in the long term, but it's just another setback in what has been a very rough year for Wynn Resorts shareholders.