Wynn Resorts Limited has announced the further expansion of Wynn Macau, the casino resort that opened to acclaim in September. The company has decided not to merely extend the Wynn Macau casino but to construct a self-contained second hotel casino with all amenities. To be called Wynn Diamond Suites, the budgeting process for the new development is expected to be finalized by mid-2007. Part of the gaming area of the new hotel had been previously announced as an expansion of Wynn Macau and came under the original budget for Phase II.

The expanded gaming area, due to open in February, will eventually become part of the casino in the new hotel. The additional space for Wynn Macau in the meantime will add a further 119 gaming tables to the present 212. 300 more slot machines will bring the total number of machines to 675. The casino resort generated US$45 million in the 25 days of operation in September, approximately 81.2% coming from table games that are primarily baccarat. Cash flow, which was US$2.3 million in September, reached US$19.5 million in October.

Wynn Macau has two gaming segments, one that caters for the mass market and the other for VIP players. In September the VIP table games turnover was US$1.5 billion in comparison to US$134 million drop in the mass market. Both segments produced a lower than expected win percentage. However, the results from Wynn Macau so far suggest that the mass market gaming sector in Macau may play an increasingly important role for the gaming operators. (E-11.17.06)

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