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Wynn Resorts is
in talks to open a hotel under the Ferrari brandname as part
of its planned Cotai casino resort project. Gaming company
chairman and chief executive Steve Wynn disclosed the
negotiations during a teleconference with analysts about the
company's first-quarter results yesterday, reports Zach
Goldman in China's leading business newspaper, The
Standard.
Gradually, the
company has been fleshing out its second project in the
enclave, a resort complex that would sit next to the HK$8
billion City of Dreams development amid the mega-casinos
under construction in the reclamation area between Taipa and
Coloane islands. Wynn promised to put his cards on the table
by the next quarterly call. Phase one of the company's first
Macau project - the US$1.1 billion Wynn Macau casino hotel
in the shadow of the Lisboa Hotel on the main peninsula - is
slated to open September 5th this year.
The company said
in March that it had applied to the Macau government for a
21.9-hectare site on the Cotai Strip to develop four hotels,
three with casinos. Wynn said Thursday: "I'm talking to Luca
di Montezemolo, the chairman of Ferrari, and we're talking
about doing one of our hotels as a Ferrari hotel." Wynn
Resorts' only existing property, the Wynn Las Vegas, has an
onsite Ferrari dealership that can be visited for US$10
(HK$78) a head. Wynn said Thursday that the showroom sells
more Ferraris than any other dealership in the world.
Late last year, Italian sportscar maker Ferrari signed a
deal with United Arab Emirates developer Aldar Properties
for a Ferrari theme park in Abu Dhabi. The development is to
open in 2008 and include a race track, rides, hotels, shops
and homes.
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Wynn Las Vegas, is a
US$2.7 billion luxury hotel and destination casino
resort located on the Las Vegas Strip. It first
opened to the public on April 28th, 2005. Wynn Las
Vegas features 2,716 luxurious guest rooms and
suites; an 111,000 square foot casino; 22 food and
beverage outlets; an on-site 18-hole golf course;
approximately 223,000 square feet of meeting space;
an on-site Ferrari and Maserati dealership; and also
approximately 76,000 square feet of retail space. |
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The Cotai Strip is a
master planned development of resort casino
properties on Cotai, an area of reclaimed land
between the islands of Taipa and Coloane in Macao.
In addition to the 10,000 guest rooms, the first
phase of the Cotai Strip will offer a critical mass
of business, leisure and entertainment attractions,
including world class meetings and convention
facilities, over 20,000 seats of live entertainment
in eight separate theatre venues and the most modern
and exciting casinos in Asia. |
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Wynn signalled
Thursday that his Cotai project will also include convention
halls. "A very aggressive convention program ... is going to
be part of our land use," he said. "We share some of the
other companies' views that Macau has a bright convention
future and that we will be able to sustain large amounts of
midweek occupancy with groups that will come to Macau for
meetings and conventions." Late last year, he had said his
Cotai hotels would ring a mall, commenting that conference
centres rarely generate much profit and that he just needed
to set up his project near others' halls.
Wynn said
Thursday that the completion of the second phase of the Wynn
Macau had been pushed back a quarter to the end of 2007 to
allow more time to fine-tune its design after the first
phase opens. "Everybody in the gaming industry knows that
experience is absolutely the most powerful factor in our
success and we have none there," he said. He added that he
is certain the hotel will draw new visitors to the SAR. "I
know a lot of our customers want to go to Macau," he said.
"What surprised me is the fact that people from America or
customers of Wynn Las Vegas want to go to China."
Report courtesy of
The Standard
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