681 W4 Case Rev

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Las Vegas-based Wynn Resorts entered Macau in 2002, the year the casino monopoly of Stanley Ho’s S.T.D.M. ended. In Macau, the GGR pie is now shared by six players who own 34 casinos among them. In 2011, the Wynn Macau casino was reported by Macau Business to be the most productive single casino property with gross gaming revenues at US$4.375 billion. Wynn has emerged as the industry leader in just ten years. Despite the cap on the number of gaming tables, a major source of gaming revenues, Wynn has managed to beat competitors even with its relatively lower number of gaming tables. Wynn has been cautious with its expansion plans. Stephen A. Wynn, chairman and CEO of Wynn Macau, preempting the economic slowdown decided to open only a portion of Wynn Macau expansion in the third quarter of 2007. Even as some competitors implement grand expansion plans in Cotai, the land eyed by incumbents to up the ante in competition, Wynn, MGM, and SJM are seeking the Macau SAR government’s approval of their Cotai land applications. The Cotai challenge will present new opportunities and challenges for the casino operators.

CASE DISCUSSION QUESTIONS
5. How would you characterize competition in the gambling industry in Macau?
6. From the institution-based view, what institutional developments have facilitated the development of this industry?
7. What resources and capabilities were behind the performance of Wynn Macau?
8. Retrieve and analyze recent information concerning Wynn’s operations in Macau. Are there any recent developments that may significantly affect Wynn’s future performance? How does the updated assessment of performance differ from your assessment of Wynn’s performance answered in Question 2? What factors may be able to explain the change in its recent performance?
9. ON ETHICS: Responsible gaming is promoted by various stakeholders in various gambling capitals of the world, such as Macau. The government in your city or country is soliciting views from stakeholders on the issues concerning the introduction of gambling. Discuss the various stakeholders’ positions that will most likely be presented to the government, and debate the pros and cons of introducing gambling in your city or country. What conclusions can you make about gambling and its impact on society?

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