Wynn Palace opening likely pushed to August

Wynn Resorts’ newest development Wynn Palace is likely “to open in July or maybe the first week of August,” said the chairman and chief executive of Wynn Macau in a recent investor presentation.

According to a previous filing, potential construction delays could push the Wynn Palace opening to the second half of 2016.

Penalties would be observed should construction not meet the deadline, said Steve Wynn last year.

“If they don’t make June 25, it’s a $1.5 million-a-day penalty.”

The US$4.1 billion Wynn Palace resort could earn as much as US$850 million in EBITDA by 2017, said the company during the presentation.