Casino mogul Steve Wynn has said in an interview he couldn’t tell when Macau’s slowdown might let up, but expressed confidence in its long-term fortunes and backed government measures to curb travel to the Chinese gambling city.
The chief executive of Wynn Resorts also said he was in ‘sharp disagreement’ with comments by a top executive at rival Las Vegas Sands Corp. suggesting the government’s actions were harming Macau’s casino industry.
Wynn, who has one resort open in Macau and a second on the way, said the government has handled ‘practically everything beautifully.’
‘The fact that the economy and the development and expansion of Macau occurred at such a rapid rate has created a great deal of stress on the community,” Wynn said. ‘The central government and the Macau government putting a crimp in or a slowdown in visitation was an attempt to give the community a chance to absorb the stuff that had been built.’