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Wynn Confirms Casinos’ Increased Focus on Non-Gaming Revenue

According to casino mogul Steve Wynn, none of the casino resorts he has owned and/or operated — Mirage, Golden Nugget, Bellagio, Encore, to name a few — have ever done as much in gaming revenue as they have from amenities off the casino floor. Hotel rooms, restaurants, shopping, spas, nightclubs — those are the real money makers in Las Vegas and many other casino meccas across the world, Wynn confirmed. “The casino revenue has never been equal to 50% of the revenue, it’s always been less,” Wynn said recently during his company’s first-quarter earnings call. “Lately, it’s almost two to one. So what moves people are the adventures of a vacation, great service and choice of activities.” Wynn...

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Steve Wynn, ONE

Steve Wynn Few casino builders or operators have had a greater impact on their industry, and especially on contemporary Las Vegas, than Stephen Alan “Steve” Wynn. The son of an illegal bingo game operator, Wynn received an Ivy League education. The combination of the two gave him a unique perspective for a Las Vegas gaming operator of his generation. Wynn started making his mark on the Las Vegas Strip in the 1970s. The 1989 opening of his Mirage ushered in the age of expensive and opulent “megaresorts,” turning him into a visionary, controversial casino mogul. Wynn was born in 1942 in New Haven, Connecticut. As a young man in Boston, his father, Mike, changed the...

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Billionaire Steve Wynn Reveals His Secret, Covert and Extreme Casino Security Measures - Core77

As authorities search to find a motive behind Sunday's horrific mass shooting in Las Vegas, others are re-examining security measures. The police now state that 23 firearms were found in Stephen Paddock's suite, and it seems incredible that he was able to transport that amount of guns and hundreds of rounds of ammunition there without drawing scrutiny. The conventional wisdom is that the tragedy Paddock unleashed could not have been prevented; Nevada's liberal gun laws (rundown here ) do not require a permit to carry rifles and shotguns, for instance, nor is there any limit on the amount of firearms someone may possess in the state. So it seems it would be legal for Paddock to have that...

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Casino mogul Steve Wynn accused of sexual misconduct - CBS News

LAS VEGAS -- Wynn Resorts ( WYNN ) is denying multiple allegations of sexual harassment and assault by its founder Steve Wynn, describing it as a smear campaign related to divorce proceedings from his ex-wife. The Wall Street Journal reported Friday that a number of women say they were harassed or assaulted by the casino mogul. One case led to a $7.5 million settlement with a manicurist. The detailed report describes accounts from several female employees. The paper, citing people familiar with the matter, said Wynn paid a manicurist a $7.5 million settlement after a 2005 incident in which he allegedly forced her to have sex with him. The settlement came after her manager filed a complaint...

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Wynn Casino Connected To Boston By Land, By Sea, And By Foot Bridge?

Despite an ongoing suitability investigation by the Massachusetts Gaming Commission stemming from accusations against the company’s former CEO and Chairman Steve Wynn, construction on the Wynn Boston Harbor project is chugging right along. The Massachusetts casino-hotel is slated to open in June 2019. Meanwhile, construction crews are finishing new floors of the main tower at a pace of about one every two weeks. The 27-floor hotel-casino will radically change the Everett skyline and transform the entire area along the Mystic River into a world-class destination. Construction of Wynn Boston Harbor is proceeding on schedule for a June, 2019 opening. Who will you be going to the grand...

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The Latest: MGM, Wynn tamp down Boston casino intrigue -

BOSTON — The Latest on MGM's plans to open a casino in Massachusetts (all times local): Executives for MGM and Wynn are tamping down speculation the companies are quietly in talks over Wynn's Boston-area casino. MGM Resorts International CEO Jim Murren said Thursday it would have to be an "extremely unique situation" for officials to consider another major project after opening new casinos in China and the U.S. New Wynn Resorts CEO Matt Maddox said in a CNBC interview Wednesday that "Boston is not up for sale," referring to the company's $2.5 billion Wynn Boston Harbor project. But Maddox told investors Tuesday the company would to take "hard look" at the Everett, Massachusetts, project if...

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Billionaire casino owner and collector Steve Wynn accused of pervasive sexual misconduct, The Art Newspaper

The billionaire casino owner and art collector Steve Wynn has been accused of pressuring employees in his Las Vegas casinos to perform sex acts in a decades-long pattern of misconduct, the Wall Street Journal reports. Among them is a manicurist who worked at a casino salon and said that Wynn demanded she remove her clothes and forced her to have sex with him during a private appointment in his office. He later paid her $7.5m in a settlement, according to the Journal, which reached out to 150 current and former employees. “The idea that I ever assaulted any woman is preposterous,” Wynn says in a statement, adding: “The instigation of these accusations is the continued work of my ex-wife...

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Will Steve Wynn s Bad Behavior Haunt His Casinos? Commercial Observer

S ome felt the January blues worse than others this year. At the end of last month, in the week he turned 76, Steve Wynn, the chairman of Wynn Resorts, was accused of a history of sexual misconduct involving casino employees, became the subject of multiple investigations, saw his company’s shares fall by 10 percent and his company’s ratings downgraded by analysts and resigned as finance chairman for the Republican National Committee. This could not have been good for Wynn’s casino and hospitality business, which had been going through what would have otherwise been a considerable surge of activity. Last week, Wynn closed on the $336 million purchase of 38 acres of land directly across from...

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Wynn casino heist: $6 million in chips allegedly stolen by a dealer and an accomplice BGR

The upcoming reboot Ocean’s 8 won’t be out until this summer, but it appears that someone took inspiration from the series this week as $6 million in gaming chips went missing from the Wynn Macau casino in China. Macau police tell CNNMoney that a dealer from the casino and a potential accomplice have already been arrested, but the hunt for the chips continues as the Wynn Macau attempts to recoup its losses. Opened in 2006, the Wynn Macau is one of the premier gaming houses in a territory that has become synonymous with gambling. Revenue from gambling in Macau nearly tripled that of Las Vegas in 2016, making it arguably the top gambling destination on the planet. So you can see...

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Steve Wynn: Manicurist latest to accuse casino mogul of sexual misconduct

‘He’d get angry when she objected’: New Steve Wynn of sexual misconduct claims WHEN the manicurist accusing a casino mogul of sexual misconduct complained about him, she was told “nothing would be done”, lawyers claim. A WOMAN who says she regularly performed manicures on embattled casino mogul Steve Wynn on Tuesday filed a lawsuit accusing him of sexual misconduct and the company he founded of endorsing his behaviour. Women in lawsuits, police reports and news reports have described what amounts to a longstanding pattern of sexual misconduct on the part of Wynn. According to the lawsuit filed in state court in Las Vegas, Wynn would place the hand being manicured over his genitals, making...

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