Wynn Resorts to expand worldwide reach
Wynn Resorts Ltd., owner and operator of casinos in Las Vegas and Macau, is launching a new business focused on developing gaming and nongaming properties worldwide.
Steve Wynn, chairman of Wynn Resorts, said today that Gamal Aziz, a veteran casino executive, has been named president and COO of the subsidiary, Wynn Resorts Development LLC. Aziz is well-known to Wynn after spending two years as senior vice president of the Bellagio.
"Gamal helped us to create and open the Bellagio and has enjoyed tremendous success in the intervening years at MGM Resorts International," Wynn, founder and chairman of Wynn Resorts Ltd., said in a statement. "He has decided to return to our family and will lead our expansion plans as we enter an exciting, new phase in the growth of our company."
The move signals Wynn's plan to expand his $12 billion gaming and resort company even farther from his traditional Las Vegas base, and his intent to develop nongaming resorts, which Wynn has not previously attempted.
Wynn said Aziz will play a crucial role in developing the company's $4 billion resort on the Cotai Strip in Macau. He will also play a role in any future casino developments in Massachusetts or Pennsylvania.
Wynn Resorts will bid for the last casino license in Philadelphia, with plans to build a 150,000-square-foot casino and a 300-room hotel on about 60 acres of waterfront property. The gaming company also expects to develop a casino in Everett, Mass.
"(Aziz's) return to our company gives us a tremendous boost as we begin 2013," Wynn said.
Wynn did not confirm that Aziz's return means Wynn Resorts will immediately expand its portfolio to include nongaming properties. The company owns and operates Wynn Las Vegas, Wynn Macau and Encore hotels in Las Vegas and Macau.
Aziz, who resigned as president and CEO of MGM Hospitality on Dec. 26, was unavailable for comment.
MGM Resorts International declined to comment on Aziz's resignation.
Aziz established MGM Hospitality in 2007 to assist its parent company in developing nongaming properties worldwide.
Since 2007, MGM Hospitality has secured 27 hotel projects in key markets worldwide.
The company's biggest impact is being felt in China, where MGM will open hotels in Beijing, Sanya, Tianjin, Chengdu and Shanghai through 2014.
Aziz told the Review-Journal in June 2011 the company was "focused on rebranding (itself) to focus growth in international markets." He said the company's foreign growth is driven by demand for "fresh" hotel product.
MGM Resorts is also bringing its three luxury brands - Bellagio, MGM Grand and Skyloft - to Vietnam, Dubai, United Arab Emirates and India.
Aziz, who spent more than a decade with MGM Resorts, began his career as president and COO of the MGM Grand in Las Vegas. Before joining the MGM Grand, he served for two years as senior vice president at Bellagio, according to Wynn Resorts.
Contact reporter Chris Sieroty at csieroty@reviewjournal.
com or 702-477-3893. Follow @sierotyfeatures on Twitter.
