Global gambling and hospitality giant Wynn Resorts has expressed confidence in the return of Macau’s development indicators. At the same time, the company expressed a warning about the future of the region in terms of the non-gaming sphere.
Speaking on the group’s first-quarter earnings report, Wynn Resorts CEO Craig Billings suggested the market will reopen as “more mass-oriented with better product and upgraded service.”
“We are confident in our ability to compete. Throughout the period of the COVID-19 pandemic, we have seen new visitors come to Macau. Their motivation was different from that which we recorded historically. This applies to any activity – from shopping to entertainment, ”the functionary added.
He also noted that, in the long term, Wynn Resorts remains excited about Macau’s prospects in terms of developing areas that are not related to gambling. According to Craig Billings, the region will soon be forced to adapt to global changes.
Parallel to the Macau business, the casino and entertainment operator has moved on to develop its project in the UAE, which will build a multi-billion dollar integrated resort on the artificial island of Al Marjan in Ras Al Khaimah.
“The island, which is really a blank canvas for us, provides amazing opportunities to do what we do best. From massive water and light spectacles like Las Vegas’ Dream Lake to a local product that takes advantage of the unique aspects of a beach setting,” Billings continued.
“I am sure that we are going to offer the market something special. The community is used to paying a premium for luxury experiences. Therefore, we intend to continue to keep the bar high,” summed up Craig Billings.
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