CLAIMS TO FAME
- Long-time COO of Wynn Palace
- Former casino executive in Australia and Las Vegas
Former Australian and Las Vegas casino executive Frederic Luvisutto chose a pretty good time to take charge of Macau concessionaire Wynn Macau Ltd in June 2022.
After three consecutive years of pandemic-induced losses, the reopening of Macau’s borders on 8 January this year has reignited Wynn’s fortunes as it looks to capitalize on the long-awaited return of customers.
1H23 profit of US$11 million doesn’t look like much but compares to a US$460 million loss a year earlier, with the vastly improved result coming on the back of a 272% increase in revenues to US$1.06 billion.
The resumption of normal business has also allowed Wynn Macau Ltd to proceed with the addition of complementary offerings, announcing plans to launch its own resident show in the near future, plus a lifestyle brand called Wynn Signature that the company says will provide its guests with “highly sought after experiences exclusive to Wynn”.
Longer-term, Wynn’s success within the competitive Macau market will depend on its ability to steer its once dominant VIP offering towards the premium mass market – an area the company insists it is very much focused on.
That at least provides a unique opportunity for Luvisutto – who has big shoes to fill following the recent departures of Ian Michael Coughlan and Ciarán Carruthers – to shine.
The 51-year-old was previously COO of Wynn Palace for eight years, tasked with overseeing all operations, including gaming, while 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 2023 Asian Gaming Power 50 winners, click here.
