The Wynn Macau hotel-casino opened last night, becoming the “Macau’s first full-scale Las Vegas-style casino resort”, according to this article in the South China Morning Post.
A confident Steve Wynn had the following to say:
“The Sands was an interim step … It’s performed well financially, but in no way does it represent the future of the city … I think hotels on this scale or taken to a larger scale will be the future of the city.”
No doubt. He also got in a few jabs at his competitor on both sides of the Pacific, Sheldon Adelson, who opened a smaller casino, the Sands, last year:
“We are different from the other guys. We don’t build down-and-dirty quickies.”
Plus a little boasting:
“We get more yield per table than anybody else, including the Venetian [another Adelson-run casino, which is also building a Macau resort], whether it’s slot machines or tables … We make more money than the Venetian all the time. So it’s not so much the dog in the fight as the fight in the dog.”
After which he had the following to say:
“It doesn’t do much good to categorise or put down the other guy,” he said. “That won’t make any money for anybody and it doesn’t accomplish much.”
Mr Ho last month complained about the “vicious competition” in Macau’s casino market, saying one-third of his VIP gaming halls faced bankruptcy, putting thousands of jobs at risk.
But Mr Adelson retorted that Mr Ho should “get out of the kitchen if he can’t stand the heat”.
Mr Ho said he hoped Wynn Resorts would help check the competition from Sands. “This new opponent is very strong. Hopefully this new opponent can compete with [Sands]. I am very happy.”
Source: South China Morning Post
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