Wynn Resorts’ CEO is “very excited about the opening of the new Chairman’s Club floor at Wynn Palace”. The group announced that it had received approval for the opening “today” on its earnings call on Thursday.
The venue, located in Wynn Palace is “dedicated to our highest value customers”, notes CEO Craig Billings. The new expansion has tripled the size of the club to “nearly 100,000 square feet”, including gaming areas, F&B, entertainment and more.
The executive noted that “it will set a new standard for premium gaming space in Macau”.
Looking at Chinese New Year overall, Billings highlighted that the “booking pace is good” and the Chairman’s Club opening will provide “something new and shiny that will delight our best customers”.
The CEO highlighted that “we do run into capacity constraints around these peak periods based on table count,” however “that doesn’t affect our best customers”.
Flexible reinvestment amongst strong competition
“We don’t control the market. We control our share of it,” highlighted Billings regarding the strong competition in Macau.
“I don’t view the market as being in some all-out promotional war by any means. But […] it’s a short booking window, and it’s a competitive market”.
The executive highlighted that Wynn has a flexible approach to be able to move quickly when needed, with a day-to-day view of reinvestment calculated down to the basis point.
This means the group can “modulate on the fly, far better than we ever have”.
Persisting momentum
Strong VIP momentum in the fourth quarter has “persisted into the first quarter, with volumes in January just above those we saw in Q4,” highlighted Billings.
In general, the “Premium segment continues to lead the market, and that is a segment where we are always well-positioned”.
Aside from the Chairman’s Club revamp, the refresh of rooms at Wynn Tower on the peninsula will “further strengthen our ability to capture this demand in 2026 and beyond”.
Billings did caution that “VIP can be incredibly lumpy”.
The executive highlights that the group’s Macau operation is not “driving volumes on the bank of incremental credit”.
“In VIP, a very small number of players can drive a very large amount of turnover. So, we have been making very specific investments in our VIP hosting teams and in our VIP player development, and we saw the benefit of that this quarter.”
Looking ahead, implementation and benefiting from customers’ gains from the AI boom is a positive.
Billings notes that this boom “will benefit us in Macau as a new generation of wealth is created in China”.
Regarding its own internal AI use, “We focused on improving the underlying machine learning and modeling for our reinvestment […] that has certainly had an impact. I believe you can see that showing up in gaming volumes.”
