Wynn Resorts Thursday announced plans to spend $900 to $950 million for a new hotel in Macau and reiterated its intent to eventually expand in Las Vegas, where demand at the luxury property remains strong in the second quarter.
The new project is called The Enclave at Wynn Palace in Macau, an all-suite 432-room hotel that will be adjacent to and connect to the east entrance of Wynn Palace, CEO Craig Billings told Wall Street analysts on an earnings call. The project will increase Wynn Palace’s room county by 25% and its suite count by 50%.
Construction is expected to commence in second half of 2026 with an anticipated construction timeline
of 2.5 years.
The announcement comes off Wynn’s announcing a strong quarter in Macau with premium demand continuing to drive the marketplace.
Billings said the reason for the expansion is that Cotai continues to be the primary driver of high-quality visitation to Macau and Wynn Palace regularly nears 100% capacity.
In response to a question, Billings said Wynn is always thinking about expansion opportunities in Las Vegas, where it has 166 acres in a land bank.
“The reality is there’s a time and a place to consider expansion here, and that is based on the market and other things we have going on,” Billings said. “The last two significant openings (without naming Resorts World Las Vegas and Fontainebleau) did not drive visitation to Las Vegas and happened to be share takers in order to drive their business. That’s something to pay attention to.”
Billings said Wynn does its own design, development, and construction management, and it’s currently tied up with its Wynn Al Marjan Island casino-resort project in the United Arab Emirates due to open in 2027.
“We have to take account of that as well,” Billings said. “We will expand in Las Vegas eventually, but when that is we will see. We will get there when we get there.”
As for the quarter, Billings said the Las Vegas operations had their best March in history, with casino revenues up more than 9% driven by drop and handle. Revenue per room was up 10% with room rates up 12%. Table games win was up 25%.
“That momentum has carried over to the second quarter as drop and handle are both up versus the prior year,” said Billings who also said revenue per room and rates also continued to be strong in April.
Wynn Resorts, which is expected to start its remodel of Encore rooms later this month in Las Vegas, has seen strong group business, Billings said.
Unlike the Strip as a whole in 2025, Wynn didn’t feel the same declining visitation, and Billings said they had a strong year. Wynn primarily caters to luxury customers.
“We didn’t have a trough,” Billings said.
While he expects a strong 2026, Billings pointed out that Wynn will be up against difficult comparisons to 2025, because of that strength last year.
“Las Vegas is performing well by all historical standards, and you can see it in the numbers. Everything we can see looking at further in the year based on what we saw in the first quarter makes me feel good about 2026.”
