Wynn details Cotai plans


Steve Wynn, chairman and chief executive of Wynn Resorts Ltd. and its Macau subsidiary, told analysts the company’s new casino resort in Cotai will be called Wynn Palace and “the theme of this hotel is flowers”. He said there will be an 8-acre lake in front of the hotel, with a dancing light feature, and “we placed all of the high-end gaming on the water and the restaurants on the water.”

Wynn Macau also signed a contract for the construction of the Wynn Palace with Leighton Contractors (Asia) Ltd. with a guaranteed maximum price of HK$20 billion ($2.57 billion). The full cost of the resort, including land and equipment, is still expected to be about HK$31 billion, with targeted completion in the first half of 2016.