Wynn Spending $4 Billion On Macau Casino

This story was published more than 11 years ago.

US based resort group Wynn Resorts is investing $4 billion for its casino resort in Macau, a report by Reuters claims.

Speaking to reporters this week, Wynn said that his company's new resort would have a solid return on investment due to the growth of the gambling market in Macau. "Growth of the market has been so spectacular, the expansion so dramatic, it is unrealistic for it to continue at that rate." the gambling mogul said.

In recent years Macau has seen an explosion in growth, surpassing Las Vegas as the world's largest gambling market. However that growth has slowed down a bit, with revenues growing by only 7.3% last month; its lowest expansion rate in almost three years.

The Wynn Macau resort has recently broken ground on its 20 hectare site on Macau's Coral Strip and is scheduled to open its doors in 2016.