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Wynn Sells Macau Sub-Concession Right for $900M

LAS VEGAS-The right permits the owner to conduct gaming operations in the Macau Special Administrative Region of the People's Republic of China, where Wynn just opened a new casino.

By Brian K. Miller | Updated on September 11, 2006

(For more retail coverage, click GlobeSt.com/RETAIL.)

LAS VEGAS-The Macau subsidiary of publicly held Wynn Resorts Ltd. has sold its subconcession right to an affiliate of Publishing and Broadcasting Limited for $900 million. The right permits the owner to conduct gaming operations in the Macau Special Administrative Region of the People’s Republic of China.

Earlier this month, locally based Wynn Resorts opened the first phase of its second property, Wynn Macau, a destination casino resort with 600 hotel rooms and suites and 100,000 sf of casino space. Amenities include seven restaurants, 26,000 sf of retail space, a spa, a salon, entertainment lounges and meeting facilities.

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