WYNN · 10-Q · 2026Q2 · Full report
Wynn Palace Expansion
WYNN RESORTS LTD · 2026-08-06 · Importance 59 · Surprise 60 · In source text
In July 2026, Palo Real Estate Company Limited and Wynn Macau SA accepted an amended Macau land concession allowing expansion of Wynn Palace on the Cotai Land. The Expanded Resort will include a new five-star hotel, theater, and event and entertainment center, with development required within 60 months of publication of the amended contract. Palo paid an additional one-time land premium of MOP652.3 million, approximately $80.8 million, and must pay additional annual rent to the Macau government.
Key facts
- We are constructing the Enclave at Wynn Palace, a 432-key, all-suite hotel tower; estimated project budget between $900 million and $950 million inclusive of capitalized interest; construction expected to begin in the second half of 2026 and span 2.5 years. source
- Total project capital expenditures for the Enclave at Wynn Palace and other enhancements at our Macau Operations expected between $350 million and $400 million during 2026 and between $750 million and $800 million during 2027. source
- The Macau government has allocated Palo a maximum of 60 months from the date of publication of the Amended Land Concession Contract to complete development of the Expanded Resort on the Cotai Land. source
- Palo Real Estate Company Limited and Wynn Macau SA accepted the terms and conditions of an amended and restated land concession contract from the Macau government in July 2026. source
- The Amended Land Concession Contract permits Palo and Wynn Macau SA to expand Wynn Palace to develop a new five-star hotel, a theater and an event and entertainment center on the Cotai Land. source
- Palo is also required to pay an additional annual rent to the Macau government. source
- As acceptance of the conditions of the Amended Land Concession Contract, Palo paid an additional land premium of MOP652.3 million (approximately $80.8 million) as a one-time lump sum payment. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| assets | positive | committed | +6.0% | We are constructing the Enclave at Wynn Palace, a 432-key, all-suite hotel tower; estimated project budget between $900 million and $950… |
| cash | negative | committed | -6.0% | We are constructing the Enclave at Wynn Palace, a 432-key, all-suite hotel tower; estimated project budget between $900 million and $950… |
| cash | negative | committed | -5.0% | Total project capital expenditures for the Enclave at Wynn Palace and other enhancements at our Macau Operations expected between $350… |
| assets | positive | committed | +5.0% | Total project capital expenditures for the Enclave at Wynn Palace and other enhancements at our Macau Operations expected between $350… |
| cash | negative | committed | -2.4% | Total project capital expenditures for the Enclave at Wynn Palace and other enhancements at our Macau Operations expected between $350… |
| assets | positive | committed | +2.4% | Total project capital expenditures for the Enclave at Wynn Palace and other enhancements at our Macau Operations expected between $350… |
| assets | positive | committed | — | The Amended Land Concession Contract permits Palo and Wynn Macau SA to expand Wynn Palace to develop a new five-star hotel, a theater and… |