CLAIMS TO FAME
- Long-time COO of Wynn Palace
- Former casino executive in Australia and Las Vegas
It’s been a slow but steady rebuild for Wynn Macau, which has taken a cautious approach to its growth trajectory in 2024.
In its 2Q24 earnings call, the company confirmed it was staying disciplined in how it is approaching its opex and player reinvestment policies, which has reduced costs but also saw it lose some market share to its more aggressive Macau rivals.
Likewise, Wynn has been slower in rolling out its smart tables, opting to test drive a small batch of tables before likely accelerating rollout towards the end of the year.
All in all, it suggests the company is comfortable with where it’s at right now, having seen quarterly operating revenues not too far off the US$1 billion mark, thanks mainly to the strength of Cotai property Wynn Palace. That its retail and F&B segments have outshone even pre-COVID levels also suggests Wynn is not feeling too much pain from China’s economic slowdown.
That’s good news for Frederic Luvisutto, the former Australian and Las Vegas casino executive appointed COO of Wynn Macau Limited in June 2022 following the departures of Ian Michael Coughlan and Ciarán Carruthers.
Luvisutto is Wynn through and through these days, having previously been COO of Wynn Palace for eight years, tasked with overseeing all operations, including gaming. His extensive career has also seen him serve as Managing Director of The Star Sydney and Jupiters Resort and Casino – now The Star Gold Coast – and hold senior positions at MGM Grand and at Monte Carlo Resort and Casino in Las Vegas.
For the full list of 2024 Asian Gaming Power 50 winners, click here.
