Steve Wynn Betting on Macau Casino Growth

Wynn is not concerned about some experts’ worrying projections that Macau gambling profits will keep dropping.

Experts have observed that, as orders from the mainland and Macanese gambling laws are becoming more strict, revenues have fallen for three consecutive months now. But when asked whether he was feeling his Asian casino kingdom shake, casino billionaire Steve Wynn replied: “I don’t give a damn.”

“I think the future of Macau is terrific. We have invested more in Macau than we’ve made. That shows as a capitalist I am completely confident that I am reinvesting in this country,” he said in a speech in which he outlined his vision for the future of Macau.

Optimistic about the future

While Macau is facing its first prolonged decline in five years, Wynn says his company has made progress in its third quarter: “We’re ahead of where we were last year in our company. We’ve been beating the market generally in the mass tables and the slots.”

The US casino company operates two casinos in Macau, the Wynn Macau and the Encore. According to local gambling news, the developer has plans to build a new $4 billion resort “in 15 to 16 months”.

“I can’t answer the question [whether gross gaming revenue will decline this year]. I don’t have enough information yet, but color me bullish and happy to have this investment and looking to making more,” Wynn added.