When it comes to picking winners, casino leader Wynn, knows how to pick them. It has been reported that Wynn is planning to open a third casino resort in Macau. The deal appears to be a good decision for both Wynn as well as for Macau whose recent revenues coming in from gambling and resorts has skyrocketed over the last few years.
Macau is said to have an estimated 20 million visitors a year, which is remarkable considering how small it is and how unknown it was just a few decades ago. Because of its association with gambling casinos, and its ability to provide outstanding services to visitors, the country is now one of the industry leaders. The addition of this third Wynn casino resort would seem a no-brainer.
According to recent reports, Macau’s casino revenues last year were more than $33 billion, which is five times the amount of revenues seen in Las Vegas over that same time period. Remarkably, the numbers for 2012 revealed an accrued revenue of nearly $15.5 billion just in the months January through May. No wonder Wynn is investing here again.
Many experts agree that while gambling is a big draw for Macau, it is not the only draw. Macau has taken it upon itself to fashion itself with the amenities that travelers are looking for. These include outstanding hotels and luxury accommodations, fine dining, business services such as high-tech conference rooms, entertainment, excellent shopping opportunities and much more. This “all of the above” approach as has endeared the tiny Chinese locale as a destination of choice and that popularity is only expected to increase as time goes by.
Macau has been so successful in its efforts that it is now rated by the World Tourist Organization as one of the Top Five travel destinations in the world. While many residents and business owners in Macau have become wealthy because of its new-found popularity, its general populace has benefited as well. It now boasts of having one of the longest life expectancy rates in the world. Workers of all sorts are coming into Macau and make decent wages as they do.
When all of this is considered as a whole, it only makes sense that Wynn would choose a location such as this for its planned casino resort. If a problem exists, either now or in the future, it will be much the same as what Las Vegas faced some decades ago when land availability became a major issue. Macau is now considered one of the most densely populated areas on the globe and land for commercial use, as one might expect, is dwindling.
The unprecedented and rather fast-moving success of Macau has caused other Asian Pacific countries to take another look at their gambling and resort opportunities. Some countries, such as Singapore and the Philippines, have already jumped onboard and have opened their own casinos and resorts in the hopes of attracting visitors to their areas. Whether or not they are able to match the success of Macau is yet to be seen.