Wynn Macau Limited says the Macau government has amended the land concession for its Wynn Palace site in Cotai, allowing the company to develop a new five-star hotel, theatre, and event and entertainment center.
The approved development mix corresponds with Wynn Resorts’ previously disclosed plans for The Enclave at Wynn Palace, a 432-suite hotel tower, alongside a new theatre and large-scale event and entertainment center.
In a July 22nd filing with the Hong Kong Stock Exchange, Wynn Macau said the amended contract was published in Macau’s Official Gazette on the same day.
The amendment covers Wynn Palace’s existing 51-acre Cotai site and replaces the original land concession contract signed in 2012. It changes the permitted development on the existing site rather than granting Wynn a new parcel of land.
Palo Real Estate Company Limited, a wholly owned indirect subsidiary of Wynn Macau, must complete the expanded resort within 60 months of the amendment’s publication, giving the company until July 2031 to finish the development.
The existing land lease runs until May 1st, 2037, with successive renewals permitted under applicable legislation.
According to the filing, Palo must pay an additional land premium of MOP652.3 million ($80.8 million) as a one-time payment, funded from available cash.
The company’s total annual rent for the expanded resort will rise to MOP9.48 million ($1.17 million). Palo must also provide the government with a deposit or bank guarantee equal to the annual rent.
Enclave construction planned for second half
Wynn Resorts unveiled The Enclave in May as a $900 million to $950 million expansion of Wynn Palace. The all-suite tower will be built next to the resort’s east entrance and connected directly to the existing property.
Construction is expected to begin in the second half of 2026 and take approximately two and a half years. The project would increase Wynn Palace’s total room inventory by around 25 percent and its suite count by about 50 percent.
Wynn has said The Enclave will not include gaming facilities and will have limited food and beverage offerings, with guests using the amenities at Wynn Palace.
The company previously estimated Macau project capital expenditure of between $400 million and $450 million in 2026, including spending on The Enclave and subject to government approvals.
The land amendment represents a key regulatory step for the broader Wynn Palace expansion. However, the filing did not explicitly name The Enclave or state whether all construction approvals had been obtained.
