Last updated: 12:31 PM ET, Tue August 23 2016

Wynn Palace Opens in Macau

Hotel & Resort | Patrick Clarke | August 23, 2016

Wynn Palace Opens in Macau

PHOTO: Wynn Palace in Cotai, Macau (photo courtesy of Wynn Resorts)

Despite a troubling gaming climate, Wynn Palace has officially opened in Macau.

The opening of the $4.2 billion casino resort was celebrated Monday in Cotai and attended by Wynn Resorts Chairman of the Board and CEO Steve Wynn.

The massive hotel features more than 1,700 guestrooms, suites and villas, but it's the amenities that are likely to lure travelers from around the globe.

Highlights include an eight-acre Performance Lake that utilizes nearly 1,200 water jets and eight million gallons of water to put on more than a dozen musical fountain shows. The resort's pool and nearby restaurant will both overlook the lake but guests can also take in the sights from inside Sky Cabs that travel nearly 100 feet above the lake.

Adding to the allure, Wynn Palace's spa is the largest in Macau, boasting nearly two dozen treatment rooms.

Guests will also have no shortage of dining and shopping opportunities. The Wynn Palace Esplanade features more than 50 retail shops and restaurants include Wing Lei Palace and SW Steakhouse. 

READ MORE: Wynn Resorts Is Building a Beach on The Las Vegas Strip

"Wynn Palace is arguably the most beautiful hotel in the world, which is a wonderful thing to be able to say," Wynn said in a statement. "But it is not in London, Paris, New York or Rome. It is in Cotai, in Macau, and sits here for all the world to come and see."

Given the hefty price tag and time it took to develop (six-plus years), it's clear that Wynn Resorts has pulled out all the stops to ensure Wynn Palace is among the world's most show-stopping hotels, even spending as much as $125 million on its vast artwork collection.

"It's our gift to the community, to the public," added Wynn. "It will be here forever and it's perhaps unlikely we'll see a place of this scope and artfulness in our lifetimes again."

For perspective, the resort's 1,706 rooms will more than double Wynn Resorts' total hotel room count, according to Citi analyst George Choi via CNBC.

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