American business magnate Steve Wynn won government approval to build a casino resort in Macau’s Cotai area.
Once complete, the casino will be the second Wynn casino in Macau, the world’s largest gambling market.
The development is “the single most important project in the history of Wynn Resorts,” Mr Wynn said in a statement on Wednesday, according to Wall Street Journal.
Mr Wynn said his new casino resort would open in 2015 or 2016 and cost around USD2.5 billion to develop.
Macau’s gambling revenue hit a massive USD33.5 billion last year – five times that of the Las Vegas Strip – while Macau’s gambling revenue rose 26 per cent in the first four months of this year.
Wynn Resorts’ land in Cotai has been designated for a five-star hotel, gambling space, retail, dining and shopping areas, as well as a spa and nightclub.View Comments