Wynn Macau to Pay $193 Million Premium on Land for Resort
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Wynn Macau Ltd., Asia’s second-largest casino company by market value, said it has agreed to pay the Macau government 1.55 billion patacas ($193 million) as a premium for 51 acres in the Chinese city.
The land concession contract allows the construction of a resort on the 51-acre Cotai property that can include gambling and retailing, Wynn Macau said in a statement to Hong Kong’s stock exchange today. The rent was set at 6.17 million patacas a year, it said in the filing.