Macau government amends Wynn Macau Cotai land concession to allow Wynn Palace expansion

Macau government published an amended Cotai land concession for Wynn Macau’s subsidiaries, allowing an expansion of Wynn Palace.

The plan covers a new five-star hotel, a theatre, and an event and entertainment center, with a completion deadline set at 60 months.

Palo Real Estate must pay an additional one-off land premium of MOP 652.31 million. Total annual rent rises to MOP 9.48 million, subject to review every five years, and an added guarantee equal to annual rent is required.