Wynn Macau Ltd officially received the land grant in Cotai from the Macau government today. “Wynn can now break ground” on Cotai, the company said in a press release. According to the contract published in the official gazette, Wynn’s Cotai plot has close to 206,000 square metres. The company has pledged to build a casino resort with a five-star hotel, gaming areas, a convention centre, retail, food and beverage outlets, a spa and a nightclub. The lot is located behind City of Dreams. Wynn had already formally accepted a draft land concession in September, according to the company’s annual report. In December, the casino operator paid an initial deposit of MOP500 million (US$62.5 million), according to the report. “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,” the parent company of Wynn Macau, chairman and chief executive officer Steve Wynn was quoted as saying in the press release.
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