Wynn Resorts (WYNN) Shares Higher Following Formal Gazette Approval for Cotai Development
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Wynn Resorts Ltd. (Nasdaq: WYNN) is indicated to open higher Wednesday after the company announced Wynn Macau's Cotai land concession contract has been officially approved by the Macau government. This will pave the way for the company to break ground on the 51-acre site.
Stephen Wynn commented on the approval: "Our Company has enjoyed the privilege of being included in the remarkable modern history of our community.
"The official transfer of real estate in Cotai makes possible the commencement of the construction phase, of what will be the single most important project in the history of Wynn Resorts.
We are mindful of our responsibilities to the citizens and government of Macau and we will remain consistent to the history of our organization by bringing to life a hotel resort in Cotai that will mark a new standard of elegance in the world.
On behalf of all our employees and shareholders, we offer our thanks to the government for this opportunity."
Stephen Wynn commented on the approval: "Our Company has enjoyed the privilege of being included in the remarkable modern history of our community.
"The official transfer of real estate in Cotai makes possible the commencement of the construction phase, of what will be the single most important project in the history of Wynn Resorts.
We are mindful of our responsibilities to the citizens and government of Macau and we will remain consistent to the history of our organization by bringing to life a hotel resort in Cotai that will mark a new standard of elegance in the world.
On behalf of all our employees and shareholders, we offer our thanks to the government for this opportunity."
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