CIMIC reaches settlement on Wynn Macau

Wynn Resorts has agreed to pay CIMIC subsidiary Leighton Contractors (Asia) after reaching a settlement over the disputed Wynn Palace Macau project.

CIMIC has reached a settlement with client Wynn Resorts over the disputed Wynn Palace Macau luxury resort project.

The construction and engineering contractor says its subsidiary Leighton Contractors (Asia) and Wynn Resorts have agreed not to pursue respective claims and cross-claims against each other about the hotel, which was due to be completed on March 25 but did not open until August 22.

CIMIC said Wynn Resorts also would make settlement payments to Leighton Contractors (Asia), without giving details, but added that it would not negative affect the group's guidance.