Wynn believes it will attract 7 to 10 million people each year to the Crystal Pavilion. The immersive theatre will use super-live technology, while the art museum will overlook the new gardens.
CEO Matt Maddox said back in November: “We have a seven-acre parcel next to Wynn Palace Cotai and we’ve been working very hard on what could come next and what we have so far is a 1.5 million sq ft facility that we think will be a must-see in Macau. In addition, on the north four-acre parcel we were working on a 700-room all-suite hotel that we’ll connect into the north side of Wynn Palace Cotai.”
Analysts with JP Morgan DS Kim, Jeremy An and Christine Wage said: “Target return on investment is 15 to 20%, implying incremental EBITDA of US$300 million to US$400 million from phase one. This would mean 35 to 47% boost which seems a bit aggressive for primarily non-gaming expansion.”
David Katz, an analyst with Jefferies Financial Group said: “The long-term financial targets released at the 2019 investor day are slightly more conservative than expectations, although the capital allocation commentary should be received positively.”
Source: GMB / G3 Newswire
