Wynn Resorts, the celebrated gaming enterprise in Macau, has issued a firm caution to Leighton Holdings, the construction firm tasked with building its second casino resort in the city. Setbacks continue to impact the Wynn Palace development, and Wynn Resorts has emphasized that Leighton Holdings could incur substantial financial repercussions, possibly nearing $200 million, should the project’s culmination be further deferred.
Wynn Resorts conveyed its apprehensions in an announcement, stressing that at the present work rate, Leighton Holdings is improbable to achieve the third provisional target. The Australia-based construction behemoth, which assumed control of the project from Leighton Holdings, originally intended to finalize the Wynn Palace by March 26, 2016. Nevertheless, in the preceding November, they apprised Wynn Resorts of a three-month postponement, shifting the projected completion date to June 25.
Wynn Palace, a highly awaited enhancement to Macau’s dynamic casino landscape, is slated to encompass 1,700 hotel accommodations, an expansive gaming area, a man-made lake with gondolas, mesmerizing water features, and abundant conference facilities. The project’s agreement was originally granted to Grupo ACS, an Australian administrative team that predated Leighton Holdings.