After six years and four billion dollars, the Wynn Palace opened in Cotai, Macau–better known as “the Vegas of China.”
The company’s founder and Chairman Steve Wynn was on site Monday to celebrate the official opening. It’s the hotel mogul’s–and Macau’s–most expensive casino to date. In the 90s, Mr. Wynn was a part of the Las Vegas Strip’s transformation into an international gambling destination.
With 1,700 rooms, suites and villas, the megaresort boasts luxury amenities like 200,000-square-feet of retail space, housing brands like Chanel and Cartier, and a 22-treatment room spa offering $400 gold-leaf facials. An artwork collection worth about $125 million will be displayed throughout the property, including rare Chinese antique pieces like porcelain Qing-dynasty vases.
The megaresort has more than 1,700 rooms, suites and villas.
The extravagance moves outside to the eight-acre Performance Lake, where guests can catch fountain shows that use nearly 2,000 water jets shooting eight million gallons of water synchronized to Chinese, European and American music.
While Macau, the only place in China where casinos are legal, has seen revenue drop for 26 months in July after China cracked down on corruption, scaring off high-stakes gamblers. Wynn Palace is looking to bring back those VIP players, catering to high-rollers with 60 reserved gaming tables and special rooms.
"In every business there are good years and bad years," Wynn told reporters at a pre-opening event. "For our return on investment, I expect we will be fine."