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The prospect of the United Arab Emirates offering Wynn Resorts led the casino operator to appoint Derek Sands as UAE vice president.
The company will open a multi-billion-dollar integrated resort on an artificial island off the coast of the emirate of Ras Al Khaimah.
Sands’ experience in the Macau market sets the stage for his new role. He spent eight years in Wynn’s design and development department, and his creativity was considered a top priority for his appointment.
RAK’s plan is for a 1,000-bedroom hotel, upscale shopping centre, meeting and conference facilities, a spa and a set of restaurants and lounges as well as a variety of entertainment and gaming facilities.
Wynn is partnering with local developers Marjan Properties and RAK Hospitality Holding on the $2 billion project, which featured prominently in Wynn’s second-quarter results released this week.
The group reported lower revenue, mainly through stop-start-stop operations in Macau. But Las Vegas and Boston showed strong results. Total revenue for the second quarter was $908.8 million, a decrease of $81.3 million from last year. Net loss of $130.1 million was nearly the same as last year.
Revenues in Las Vegas (pictured) increased by $206 million, while Encore Boston Harbor’s revenue increased by $44.9 million. Macau’s Wynn Macau and Wynn Palace fell by $54.5 million and $103.5 million, respectively.
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