Wynn Macau Limited, one of Macau’s leading operators of luxury integrated resort casinos, has proclaimed that it has no involvement in a new hotel project that is being developed by an auxiliary unit of Genting Hong Kong Limited.
The massive hotel project in question is being developed by China’s state-owned real estate contractor China Civil Engineering Construction Corp (CCECC) on a waterfront site at Macau peninsula's Nam Van area.
Last month, a press release from the CCECC identified Wynn Macau's vice chairman Linda Chen as one of the guests who were invited to attend the topping-off ceremony of the hotel project. It may be noted here that Ms. Chen is serving Wynn Macau in the roles of chief operating officer (COO) and an executive director (ED). Her participation in the ceremony of the new hotel project triggered speculations that Wynn Macau is also involved in the project. The casino giant already owns and operates a couple of massive gaming facilities in Macau.
Wynn Macau confirmed that Ms. Chen attended the new hotel project's topping-off ceremony last month, but stressed that the company was not involved in the project in any way. When asked for a comment on swirling speculations, “Wynn Macau is not involved in the hotel project.”
Speculations were also swirling that Wynn Macau could have hit a gaming licensing deal for its casino license to be used at that the new hotel property. According to the press release from the contractor, Treasure Island's Chairman Yany Kwan was also present as an officiating guest at the ceremony in June.
The new hotel project called Resorts World @ Macau" is being promoted by Treasure Island Entertainment Complex Limited. Nearly 75 per cent stake in the massive project is owned by investor and casino cruise ship operator Genting Hong Kong Limited.
Genting Hong Kong recently identified the project as a hotel-casino scheme and announced Treasure Island's involvement in the development of hospitality facilities on the peninsula. However, the Hong Kong-listed company also said that the gaming component of the under-development project is currently subject to the mandatory approval from the local government.
The contractor, which is owned by the Chinese government, is all set to start working on furnishing and the installation of mechanical and electrical systems at the massive hotel project.
The Resorts World @ Macau hotel project will span an area of around 8,100 square meters or 87,182 square feet. However, the state-owned contractor has made no mention of a schedule to complete the project.