Wynn Resorts Ltd. has cautioned Leighton Holdings, the construction firm responsible for its Wynn Palace development in Macau, that it may incur penalties nearing $200 million if the casino’s opening is postponed further.
Wynn has voiced apprehension that Leighton won’t fulfill the established completion dates, possibly resulting in daily charges of up to $200,000. The Australian-based Leighton had originally projected a March 2016 finish for the project but subsequently shifted the target to June 2016.
Wynn Palace is among a number of new casino resorts expected to debut in Macau this year. The $4.1 billion endeavor will showcase a casino, a hotel with 1,700 rooms, and a range of attractions, including a man-made lake with gondolas.