Wynn confident about Vegas investment

Wynn Resorts executives say that its investment in the company’s Las Vegas properties will give it a competitive edge over its peers.

CEO Matt Maddox told investors last week in the company’s third-quarter earnings conference call that it will start remodeling Tower Suite and resort hotel rooms at Wynn Las Vegas in June.

The room refresh will come on the heels of the opening of a $302.7m, 430,000sq.ft convention facility in three months’ time. Wynn officials did not provide a cost estimate for the renovation.

“If you look at Las Vegas, we actually have more product coming online in 2020 than we had since we opened Encore in 2008,” Maddox said. “This convention centre is on our golf course and has a 390ft promenade with two-storey glass walls overlooking the golf course leading to an 83,000sq.ft ballroom. When we walk event planners into that space, their jaws drop and they say: ‘Where do we sign?’”