Consider Wynn Resorts'
A pretty penny
The land concession will cost Wynn $193 million, half of which will be paid in a down payment, the other half in eight semiannual installments. Rent on the property will also be $768,000, a drop in the bucket for a Macau casino.
The property Wynn will be building on sits directly across from Melco Crown's
Details are sparse
While Steve Wynn has been espousing his usual gushing praise for his properties, we haven't seen exactly what the development will look like.
We know that there will be around 1,500 hotel rooms, 500 table games, a theater, and the usual restaurants and shopping.
What's nice for Wynn is that the area will be fully operational by the time its casino opens up. It won't be breaking new ground like The Venetian Macau did, and it will have a plethora of hotel rooms to feed its casinos.
The next growth step
Wynn is one of the more conservative casino operators and keeps its resorts as exclusive as its clients. This new resort on Cotai will continue that theme and by all indications should be another crown jewel for Steve Wynn. It looks like the resort won't be completed until around 2015, but it should be a major draw and an enormously profitable casino when it finally opens.
Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.