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Any info on a new hotel/casino by Wynn

Discussion in 'LV Strip Hotels & Casinos' started by LV_Bound, Feb 19, 2014.

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  1. LV_Bound

    LV_Bound VIP Whale

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    Heard some chatter this weekend while in Vegas that there is an empty construction site by the Wynn that was abandoned when things went south.

    Some foreign government has purchased the property and will take over and build a hotel/casino. Unable to obtain detailed info and it was vague. Has anyone heard anything of the sorts?

    With it being a foreign country it would at least add some new competition which may help improve comps or odds depending on how aggressive they are.
     
  2. Malibugolfer

    Malibugolfer High-Roller

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    "Abandoned?" On the strip? Not going to happen.
    Boyd made a deal and sold to Genting, a Malaysian company, to develop Resorts World Las Vegas. Google it.
     
  3. TomTWI

    TomTWI High-Roller

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    Must be it

    This must be what they were talking about. This is where the Westward Ho, Stardust and New Frontier were.

    TomTWI
     
    Last edited: Feb 19, 2014
  4. larryg

    larryg Low-Roller

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    At the height of the building boom, Wynn talked about building additional hotels on its golf course to the east of Wynn/Encore -- aiming more at the convention crowd. Even then, it seemed like pie in the sky. I haven't heard any mention of it in many years.
     
  5. Malibugolfer

    Malibugolfer High-Roller

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    Speaking of pies way, way up in the sky. Fontainebleau.
     
  6. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

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    I also assume the OP is asking about Resorts World. Last I heard, they are still lining up their financing, but that is not expected to be a major hurdle
     
  7. RiddickBull

    RiddickBull VIP Whale

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    Can't wait for World Resorts. Mr. Steve Wynn will not like it, competition.
     
  8. LV_Bound

    LV_Bound VIP Whale

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    I do believe it was Malaysia. Whether it was an empty lot or abandoned construction site I can't recall.
     
  9. 67Euge

    67Euge Tourist

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    Old Frontier site

    Wasn't the old Frontier site sold for big $$ to a group from the Middle East? I remember they wanted to build their version of New York's Plaza Hotel, or something like that?!?
     
  10. SelfMade

    SelfMade Tourist

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    I don't think Wynn has anything to fear from Genting, totally different demographic. I've had the opportunity to see Genting Highlands:

    [​IMG]

    Apart from being an eyesore it's also lacks any of the attention to detail that is pervasive on the Wynn resorts.
     
  11. vegasvic

    vegasvic VIP Whale

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    It's been 5+ years since Encore opened and Wynn is 72. I wonder if he has one more big Vegas project in him.
     
  12. Viva Las Vegas

    Viva Las Vegas Ramblin' Gamblin' Man

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    His divorce (which cost serious $) and focus on the Eastern US and Asian markets (Japan will grant licenses soon) makes it unlikely we will see one last hurrah by Steve Wynn. He will remain the greatest visionary and best casino owner in the history of Vegas.

    Golden Nugget - Remains the class of downtown
    The Mirage - Ushered in the modern era of Vegas
    Bellagio - Remains the best themed resort on the strip
    Wynn/Encore - The best new resort - will be hard to ever top the attention to detail and broad range of amenities offered.

    Monte Carlo/Treasure Island - Nice additions to the empire.
     
  13. vegasvic

    vegasvic VIP Whale

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    I'm sure his gorgeous new wife keeps him busy as well :)
     
  14. SelfMade

    SelfMade Tourist

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    His divorce was all from personal expense, it will do nothing to diminish his company worth. There's not a financial institution in the world that wouldn't bank roll him should he go for another project.

    Now I don't think he will, but finances will be the least of his problems. The man has problems getting to his car from all the shopping bags of cash in his garage.
     
  15. hammie

    hammie VIP Whale

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    Who does? But its what made this country great. Wynn has upped the ante with every one of his projects, Mirage, Bellagio and over in Macau. He is going for a license in Massachusetts. He pulled his application for the remaining casino in Philadelphia which is too bad.
     
  16. BeeeJay

    BeeeJay President of The Red Lobster Hostess Satisfaction

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    I would think any north strip development would be welcomed by Wynn just to drive a little more foot traffic into the area.

    I'm pretty sure Wynn thinks he is above all his competitors, and for the most part he is right. Although I've barely spent any time playing in his casinos the past 3 or 4 years since they quit comping bartop VP players.
     
  17. RiddickBull

    RiddickBull VIP Whale

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    Lim Kok Thay (the son), major player in Genting is worth about $6-8 billion. Steve Wynn is worth about $3 billion. In Vegas, cash rules everything.

    When it comes to catering towards high international players in Vegas, Genting will take a piece of the pie when it opens.
     
  18. Dean Martin

    Dean Martin VIP Whale

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    Calling it an Eyesore is being nice....that place looks like a large scale Circus Circus:rolleyes2:
     
  19. Kickin

    Kickin Flea

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    I've been there too and also to their new Sentosa resort. I disagree about the demographic. Genting Highlands was built in the 60s as a family-oriented resort and has no competition around it. It is supposed to be mid-range and campy. But the Sentosa resort is very nice and attracts major whale action. Look at natedog's recent thread about his last visit to read about listed table limits and the type of play he saw.

    I would bet on them in a big way when they come to Vegas is because their property will have the lowest cost of capital of any new resort on the strip due to their good timing and their deep pockets. They have a stronger balance sheet than any US operator by far, including Wynn. This gives them a ton of flexibility. They have a long experience in dealing with Asian high rollers and I bet they will hire away some of the best talent in Vegas to build up their US customer base. They also have a successful history of catering to any type of market. They're not stupid, if they see a gaping hole in Vegas they will fill it. Whether it be on the luxury end or in the mid-range market.
     
  20. Jade88

    Jade88 High-Roller

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