Business
January 3, 2023
Wynn Macau Employees to Benefit from Special Allowance
A statement released by the company reveals that the special allowance will be paid to 98% of its current workforce which is 11,600 employees. Wynn Palace and Wynn Macau Employees to Receive Special Allowance on January 16 Wynn Macau explained that the special allowance will be “equivalent to one month’s gross salary.” The payment itself […]
Casino
January 3, 2023
Ellen Whittemore Was Named Non-Executive Director of Wynn Macau
On Friday, December 30, 2022, Wynn Macau, Limited announced in its filing to the Hong Kong Stock Exchange that Ellen F. Whittemore has been named a non-executive director of the gaming operator with effect from January 1, 2023. Matthew O. Maddox stepped down on December 31, 2022, from his position as a non-executive director of […]
Business
December 19, 2022
Wynn Macau to Invest $2.2B Following Changes in Concessions
Wynn Macau Spending Big Wynn Macau announced it’s planning an investment of MOP17.8 billion (approximately $2.22 billion) in the special administrative region (SAR). A big piece of these investments is going to be focused on expanding revenue through non-gaming enterprises. This is a general trend that’s expected, as the SAR announced that broadening their non-gaming […]
Business
November 29, 2022
Wynn Macau Adjusting to Comply with New Gaming Laws
Considering this year’s changes that Macau made to its gaming laws concerning operators, Wynn Macau has had to make some adjustments in order to be compliant with the latest regulatory updates. Capital Restructuring at Wynn Macau The Wynn Resorts Macau (WRM) unit was subjected to a capital restructuring that answered the need for an increase […]
Casino
September 13, 2022
Wynn Macau Submits License Re-tendering Bid
Wynn Macau, Wynn Resorts’ Chinese arm, announced that it has submitted its application for a new gaming concession. This makes the company the first among the six concessionaires to confirm joining the concession race. Wynn Macau Submits Concession Bid Wynn Macau’s submitted its tender for a new 10-year concession under the name Wynn Resorts (Macau). […]
Business
July 12, 2022
Wynn Macau Appoints Frederic Jean-Luc Luvisutto as New COO
Wynn Macau has shifted its chief operating officer Frederic Jean-Luc Luvisutto to the position of chief operating officer for the Macau subsidiary and Wynn Resorts. The appointment came into effect on July 7, 2022, with Linda Chen stepping down from their current position. She has been shifted into a VP and executive director for the […]
Casino
July 6, 2022
Wynn Macau to Replace Ian Michael Coughlan in February 2023
Wynn Macau Limited, the company that operates and owns Wynn Macau, announced a key leadership change. Ian Michael Coughlan to Step Down from His Position Next Year The company announced today that its current president, Ian Michael Coughlan decided to step down from his position. The change is effective as of March 1, 2023, the […]
Industry
June 29, 2022
Wynn Macau Grants 19 Million New Shares to Employees
Following permission by the Hong Kong Stock Exchange that was granted on June 4, Wynn Macau Ltd, operator of the luxury casino resort Wynn Macau, has issued 75 million new shares. 19 million of them are ordinary shares that are going to go to employees of the company. New Shares Issue to Compensate Reduction in […]
Industry
June 15, 2022
Wynn Resorts Provides Wynn Macau with a $500M Loan
Wynn Resorts has vowed to continue investing in Macau despite the hurdles the region is facing. To prove this, the gambling giant loaned $500 million to its Wynn Macau arm, helping it recover from COVID-19. Wynn Resorts Lent $500M to Wynn Macau Wynn Macau will use the money to bolster its business and mitigate the […]
Casino
June 8, 2022
Wynn Macau Management to Take Salary Cut for Shares
Macau is in a state of flux with lawmakers undertaking the most serious industry review to date. Because of that, companies have had to act preemptively and anticipate changes in regulation, altering their business models in some instances, and coming up with coping mechanisms in others. Wynn Macau Creates New Way of Remuneration From reducing […]
