Macau is currently the biggest gambling market in the world. A place where your uncles used to gamble when they were on leave from the Pacific Theater in their Navy days is now the resort and gambling destination for an entire half of the world. Plus, it’s not just a destination for the Eastern Hemisphere. It’s a destination for everyone. Steve Wynn has millions invested in multiple projects right now, and his new casino in Cotai will open during Chinese New Year in 2016. This all matches perfectly with the increased revenues that the tiny island of Macau is seeing.
Also, Asia could be seen as the place that bails out many domestic projects. While Wynn is having trouble with a project in Massachusetts that Caesar’s has pulled out of, it could be posited that his Asian ventures will allow him a little bit more latitude when it comes to his domestic projects.
With earnings rising so sharply in the Asian market, it’s no wonder that Steve Wynn considers Wynn Resorts an Asian company. We can all complain about the general lack of investment in his operations in North America as compared to Asia, but many tribal nations have thriving casinos in the States while Wynn has the capital to invest in Asia and cash in on the gambling craze that is sweeping across Europe. Macau is just the beginning of bigger earnings for Wynn and anyone else in the Asian market.
Everytime we hear about record profits from a casino proprietor, we must assume that most of those profits are coming from Asia. The ready cash is in the pockets of the new Asian middle class, and they are willing to spend it in casinos. Let’s hope Steve Wynn can figure out how to bring some of his magic from Asia back to West.