The rumors and speculation related to the casino operators who are somehow engaged in the integrated resorts in Japan are growing. However, like some time ago, there is little definite information or parties who are willing to define any clear strategies. Now, the CEO of Wynn Resorts and Casino, Matt Maddox spoke to the US media about his stance. He also talked about overall plans for their Japanese bid. According to Maddox, the main selling point of the casino operators is the quality they bring to the table.
Both Wynn Macau and Encore Boston Harbor are top-level establishments that provide betting services using the highest standards. Maddox also thinks that the reputation of the operator in this domain will be useful. Here the fact that they plan to continue to deliver excellence is equally important.
Yet, the company has still to choose the exact city where they wish to build their resort. Instead, Wynn has been working with a local consortium. They are targeting multiple cities, some of which are almost certainly not going to be the IR hosts. However, using the gambling terms, Wynn is hedging their bets, but also improving their standing with local legislators.
With their broad activity almost on a national level, the casino operator is trying to show that they mean serious business in Japan. So far, the signals from local governments have been clear. They suggest that any casino will have to invest in the infrastructure of their host city, not just the resort.
For example, some cities envision a possibility where the casino operator would take a part of a big financial burden. These could be things like building a new metro line. That is why any operator who is ready to put money outside of their strictest interest will be more appealing than one which simply wants to invest in their own facilities.
Wynn Resorts is using a different strategy than other US operators. MGM seems to be dead-set on the Osaka resort. This casino operator is already promising to have the facility finished by 2015. This is a very short time period for a casino of this magnitude. At the same time, Maddox is unusually calm about the prospect of the US-China trade war. That prospect has already dropped the gross gaming revenue of the VIP customers from China, but Wynn does not feel it is a long-term issue.
Instead, he believes that a deal will come about and with it, the revenue will come back. Still, the Japan strategy and the overall confidence of the company seems a little optimistic. This is mainly related to the range of legal issues the operator faced in the wake of the Steve Wynn sexual misconduct allegations. Yet, the narrative of Maddox might be a simple relief that the operator will not lose any of its US licenses.
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