Wynn Resorts expands into the European market by purchasing Crown London Casino for an undisclosed amount of money.
Wynn Resorts and Crown Resorts Announce Deal
In a statement issued on January 10, Wynn Resorts announced the purchase of Crown London casino. According to the release, the deal for the small, members-only casino in the heart of London’s upscale Mayfair district, will be finalized sometime in the second half of 2025.
According to Wynn Resorts CEO Craig Billings, the acquisition of the casino offers the company a presence in a global gateway city. Billings further explained that this move would create a conduit for Wynn guests to visit other locations of the company. He emphasized Wynn Al Marjan Island which is slated to open in the first quarter of 2027 in Ras Al Khaimah in the United Arab Emirates.
By some estimates, the London area is home to approximately 200,000 people of Arab heritage. Also, according to Statista, around 1.5 million tourists from the Middle East, including the UAE, visited the UK in 2019. Regarding these numbers, it makes a lot of sense why Wynn would like to purchase Crown London.
Meanwhile, Crown Resorts CEO David Tsai explained that the sale of the London establishment aligns with the company’s strategy to invest in their Australian assets.
Our priority is to deliver new and elevated experiences for our guests in Melbourne, Perth, and Sydney in line with our strategy to be the leading entertainment destinations in Australia.
Crown Resorts CEO David Tsai
More About Wynn Resorts and Crown
Traded on the Nasdaq Global Select Market under the ticker symbol WYNN and is part of the S&P 500 Index. The company owns properties in Las Vegas (Wynn Las Vegas) and Boston (Encore Boston Harbor), both in the US, and the Macau SAR (Wynn Macau).
Wynn’s Las Vegas establishment consists of two luxury hotel towers with a total of 4,748 spacious hotel rooms, suites, and villas. In a similar vein, Encore Boston Harbor is a large luxury resort destination featuring a 210,000-square-foot casino, 671 hotel rooms, an ultra-premium spa, specialty retail, 14 dining and lounge venues, and more.
Wynn’s Macau property has more than a thousand rooms and suites, approximately 294,000 square feet of casino space, 14 food and beverage outlets, over 30,000 square feet of meeting and convention space, and various retail and leisure facilities. Also situated in Macau, Wynn Palace boasts approximately 468,000 square feet of casino space, more than 1,700 rooms, and more retail and leisure space. Additionally, the venue has a large collection of rare art.
By contrast, Crown London is far smaller and more exclusive. The venue spans two historic townhouses in Mayfair, London. It offers its guests 20 gaming tables in a variety of sophisticated salons, as well as an intimate restaurant and lounge.
Wynn Resorts and Crown have a history together. In January 2018, the former bought land on the Las Vegas Strip that was previously owned by the latter, and the deal closed for $300 million.
