Wynn Palace Macau Opening Date June 25, 2016

UPDATE: November 18, 2015 - The opening date has been moved to June 25, 2016.

Wynn Resorts today reported financial results for second quarter 2015. Macau operations were down 35.8% which was to be expected given the trends in that market. Las Vegas operations were down 6.2% overall with casino revenue down 26.2% due to a large drop in baccarat business.

On the earnings conference call Steve Wynn announced that Wynn Palace in Macau will have a targeted opening date of March 25, 2016.

Talking about Las Vegas - Wynn said the company is enjoying "comfortable" growth, but it's not an explosive growth market by any means. Lower gaming numbers being offset by strong non-gaming.

Steve also talked about his decision to limit craps to 2X odds saying, "We are not in business to offer games that don't make money." After overhead costs craps isn't a very profitable game according to Wynn, and he thinks 2X odds might spread throughout the Strip. He also talked about moving higher margin games to higher traffic areas of the floor while moving lower margin games to the back of the casino.

When asked about possible mergers or acquisitions, Wynn said there aren't any imminent discussions going on. He would only make a deal if it made sense going forward, "I'm more interested in tomorrow's newspaper than yesterday's newspaper."

After all the analyst questions were asked, Wynn took a moment to talk about the Boston / Everett project saying, "I'm an eternal optimist. It will feel good when they stop hitting us."