Wynn Resorts, Limited (Nasdaq: WYNN) announced today that Wynn Macau’s Cotai land concession contract has been officially approved by the Macau government, paving the way for Wynn to break ground on the 51-acre site.
In Macau today Stephen A. Wynn, Chairman and CEO of Wynn Resorts made the following statement, “Our Company has enjoyed the privilege of being included in the remarkable modern history of our community.
“The official transfer of real estate in Cotai makes possible the commencement of the construction phase, of what will be the single most important project in the history of Wynn Resorts.
“We are mindful of our responsibilities to the citizens and government of Macau and we will remain consistent to the history of our organization by bringing to life a hotel resort in Cotai that will mark a new standard of elegance in the world.
“On behalf of all our employees and shareholders, we offer our thanks to the government for this opportunity.”
The Macau Special Administrative Region’s Official Gazette published its formal approval of the Cotai land concession for Wynn Macau today. The government’s approval represents a vote of confidence in Wynn’s efforts to create an imaginative and exceptional resort experience on Cotai, and its ongoing contribution to the transformation of Macau.
Source: Wynn Resorts, Limited