Wynn Resorts still keen on Japan: Maddox

Wynn President and CEO Matthew Maddox has reaffirmed his company’s keen desire to gain an IR license in Japan.

“We have been quietly active in Japan for a number of years now,” Maddox was quoted as saying, “I’ve been dozens of times myself, building strong relationships in a country where trust and relationships matter,” he said on a conference call after releasing Q2 results.

He added, “We believe that the Wynn aesthetic and our unrelenting focus on excellence and our commitment to thoughtful, immersive entertainment will resonate well in Japan, and we look forward to competing there.”

In his June interview with Asia Gaming Brief, Chris Gordon, president of Wynn Resorts Development, who has been leading the company’s Japan effort, suggested that Wynn’s campaign would “pick up significantly” in the wake of the passage of the IR Implementation Act.

 

SHARE
Previous articleTourist arrivals up 15.6 percent in first half of 2018
Next articleMGM China H1 revenue up 30 percent

Related Articles

Macau operators make CSR push amidst coronavirus crisis

As the Covid-19 crisis descended upon, first, China, then the world, the six Macau operators have not been idle in their CSR efforts, in spite of the mandated casino closures and reopenings under difficult economic conditions.

Macau operators’ Q3 EBITDA loss to narrow

Macau's six operators are expected to post a collective EBITDA loss of $823 million for Q3, improving from a loss of $1 billion in Q2, according to a Bloomberg poll of analysts.

Wynn Resorts appoints new independent director

Wynn Resorts has announced the appointment of Darnell Strom as an independent director to its board, effective October 14.
China economy bounces back, but spending numbers a concern

China economy bounces back, but spending numbers a concern

While most of the world continues to grapple with the economic fallout from Covid-19, figures released Monday indicate China has left the worst of the pandemic behind, with gross domestic product growth of 4.9 percent in Q3.

Macau casino stocks hit by fears of China legal revisions

Macau-related casino stocks took a hit on the news that China's legislature was reviewing an amendment to the country's criminal law that could establish a new criminal definition for overseas gambling operations aimed at luring Chinese citizens.
Wynn Casino

Wynn warns of U.S./China tensions

Wynn Resorts has warned that the rising tensions between the U.S. and China could negatively impact its business prospects, including its ability to communicate with customers.

Wynn says Macau marketing war unlikely

Wynn Macau doesn’t foresee Macau’s six operators undertaking a major marketing push or promotional push to win back clients and expects there to be plenty of business once travel resumes.

Wynn Q2 revenues down 94.8 percent

Wynn Resorts reported Q2 financial results that were grimmer than expected, with group-wide operating revenues down 94.8 percent. Between April and June, operating revenues came in at only US$85.7 million, causing a US$638 million net loss attributable to the company. In Macau, Wynn Palace recorded only US$8.7 million in operating revenues, a 98.6 percent drop […]
news, asia gaming news, Japan IR, Japan gaming

Wynn blames Covid for Japan withdrawal

Wynn Resorts is closing its Yokohama office due to the impact of the Covid-19 crisis on the integrated resort business, though says long term it’s still interested in Japan.

Focus on opex as operators poised to report “worst” quarter ever

Macau’s six operators are likely to post the worst quarterly performance ever in Q2, with the focus likely to be on who has done the most to control operating expenditures during the period, Morgan Stanley reports in a note.