Bloomberg News

Wynn Macau Appoints Gamal Aziz as President Amid Cotai Expansion

January 07, 2014

Wynn Macau Ltd. (1128), the Macau casino operator controlled by Steve Wynn, has appointed Gamal Aziz as president and he will immediately assume the position from the billionaire chairman.

Aziz will continue as the chief operating officer of Wynn Resorts Ltd. (WYNN:US)’s new development division, the company said in a Hong Kong Stock Exchange filing yesterday. Wynn will remain chairman and chief executive officer of Wynn Macau, it said.

“I expect Aziz is going to dedicate more time and resources to oversee Wynn’s existing operations and upcoming projects in Macau upon the appointment,” Philip Tulk, a Hong Kong-based analyst at Standard Chartered Plc, said by phone.

The 57-year-old executive, who joined the casino operator about a year ago, is based in Las Vegas. Katharine Liu, a spokeswoman for the Macau unit, yesterday declined to immediately comment on whether Aziz will move to the Chinese city which accounted (WYNN:US) for about 70 percent of the group’s revenue.

Wynn is building its second Macau casino on the Cotai Strip, the Asian equivalent of the Las Vegas Strip, to compete with Sands China Ltd. (1928) and Galaxy Entertainment Group Ltd. in the world’s largest gaming market. Gambling revenue in the Chinese city rose 19 percent to $45.2 billion in 2013, about seven times as much as the Las Vegas Strip.

Wynn Macau is building the $4 billion Wynn Palace casino resort on the Cotai Strip. The resort will feature floral sculptures the size of “floats of the Rose Bowl Parade,” Wynn has said. It is scheduled to open in early 2016.

Before joining Wynn Resorts, Aziz headed a division at MGM Resorts International that pursued hotel developments around the world. Earlier, he worked with Stephen Wynn at what was then called Mirage Resorts.

To contact the reporter on this story: Vinicy Chan in Hong Kong at vchan91@bloomberg.net

To contact the editor responsible for this story: Stephanie Wong at swong139@bloomberg.net


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Companies Mentioned

  • WYNN
    (Wynn Resorts Ltd)
    • $185.28 USD
    • -2.55
    • -1.38%
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