The Macau Metro Monitor, May 3, 2012
STEVE WYNN WANTS TO START WORKS IN COTAI "BEFORE JUNE" Macau Business
Wynn CEO Steve Wynn hopes to begin work on Wynn Cotai before June. The property would feature around 500 gaming tables, 1,000 slots and 2,000 hotel rooms. “[It will be] US$3.5 billion, US$4 billion,” Wynn said in response to a question regarding the budget. “We will build it like we did Encore [Macau]; out of cash flow and if we need any help, the banks are all there for us.” Asked if he planned to issue fresh equity to fund the Cotai venture, he replied: “I have no plans of doing that.”
SINGAPORE VISITOR ARRIVALS STB
February S'pore visitation rose 14.44% YoY to 1,133,022. Mainland chinese visitors rose 5.2% YoY to 157,788.
LESS PEOPLE VISITING MACAU ON LABOR DAY Macau Business
The number of visitor arrivals to Macau during the Labor Day holiday (April 29 to May 1) dropped 0.81% YoY to 351,000 visitors.