Las Vegas-Style Casino Slated for Macau
Steve Wynn, the flamboyant Las Vegas casino mogul whose works include the Bellagio and Mirage, said he plans to build a $500-million to $800-million casino with an Asian flavor using his newly won gambling license in Macau.
Wynn was one of three parties to receive new casino licenses from the former Portuguese colony, ending a decades-old monopoly held by the equally flamboyant Stanley Ho.
“It represents a terrific challenge and an exciting one at this point in my life,” Wynn, 59, said Friday. “The challenge is to develop a hotel for the Asian market, based on our experience here” in Las Vegas.
Casinos are the economic backbone of Macau, a Chinese-administered enclave near Hong Kong. In 2000, they raked in $2.2 billion, which made up about 35% of the gross domestic product.
Wynn said he will begin discussions on a final contract after the upcoming Chinese New Year. He will set up a temporary casino in the next few months, with an opening planned for the spring.
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