Wynn Defers Encore Renovation in Las Vegas due to American Tariff Worries
Wynn Resorts Delays Encore Tower Remodel Amid Tariff Uncertainties
Las Vegas - Wynn Resorts has announced a delay in the remodeling of its Encore Tower in Las Vegas due to unstable tariff rates, which have increased the cost of construction materials. The $375 million capital expenditure project is set to be reconsidered once tariff rates show signs of stability.
The remodel's rescheduling stems from the unpredictable nature of U.S. tariff policies, making material and supply costs unforeseeable. Although operational costs related to tariffs are manageable, the effect on large-scale projects such as construction and renovations is substantial.
Wynn Resorts CEO Craig Billings underlined the company's flexibility to reassess the Encore Tower remodel once tariff issues are resolved. Meanwhile, Wynn is continuing to sell all Encore rooms through the end of 2025 and progressing with some smaller updates at the property as planned.
The delay in the Encore Tower remodel comes as the company continues with its global expansion plans in the UAE. No further details have been provided about the resumption of the project or its overall timeline.
[Sources: 1, 2, 3, 4]
Lucas Dunn is a New Jersey-based writer specializing in casino, software provider, and game reviews, news, and blogs. With over six years of professional experience, Lucas' work reaches clients globally from the U.S, U.K, New Zealand, Australia, South Africa, and Canada. Before venturing into gambling content, Lucas attended Rutgers University to pursue a bachelor's degree in psychology. For a change of pace, he also took up painting, following in his father's footsteps. Currently, he spends his time writing full-time with occasional dabbling in painting.
In the casino-and-gambling scene of Las Vegas, the delay in Wynn Resorts' Encore Tower remodel, a $375 million project, is a notable occurrence, driven by unstable tariff rates and uncertain material costs. Despite this setback, Wynn Resorts, under the leadership of CEO Craig Billings, maintains its commitment to the casino culture, proceeding with smaller updates at the property and selling all Encore rooms through 2025. Amidst this, the company continues its global expansion plans, with ventures in the UAE on the horizon.
