1. Welcome to VegasMessageBoard
    It appears you are visiting our community as a guest.
    In order to view full-size images, participate in discussions, vote in polls, etc, you will need to Log in or Register.

Wynns future

Discussion in 'Casino Industry & Development' started by szeszetop, Aug 4, 2014.

Thread Status:
Not open for further replies.
  1. szeszetop

    szeszetop Tourist

    Joined:
    Jul 18, 2014
    Messages:
    35
    Trips to Las Vegas:
    10
    With wynn killing it on 2Q earnings what are peoples thoughts here on their future. As of a couple of years ago they kept saying vegas was done with any growth and there are rumors he even passed on the new frontier land. (Maybe pascal told him to pass so he could get it with packer-:)

    They have wynn place on the cotai strip in macau and theyre still in the running for the everett MA site. Vegas will be interesting as resorts could wrestle some asian clients away from them. Any other thoughts?
     
  2. szeszetop

    szeszetop Tourist

    Joined:
    Jul 18, 2014
    Messages:
    35
    Trips to Las Vegas:
    10
    Just wanted to add that they did cite vegas as one of the reasons for strong 2Q numbers so it will be interesting if they do anything there or just spend on the encore upgrade in the next year or two
     
  3. DMSCR

    DMSCR High-Roller

    Joined:
    Oct 31, 2011
    Messages:
    551
    Trips to Las Vegas:
    22
    Wynn is also sets his focus for NY when that time comes but now is too early to tell with the restriction to only allow full fledge casinos only upstate. That is around seven years down the line. Hopefully Wynn is still around by then. Really hope he wins that Everett license.
     
  4. chitownjohn

    chitownjohn High-Roller

    Joined:
    Nov 28, 2010
    Messages:
    660
    Location:
    Chicago
    Trips to Las Vegas:
    30
    It seems like Wynn he has some basic criteria for growth ...
    1) New markets
    2) Minimal competition
    3) Favorable government conditions, minimal regulations and taxes

    I doubt that he expands in vegas - too much competition and it's a mature market. NY could be a gold mind, otherwise he'll pursue new international opportunities.
     
  5. szeszetop

    szeszetop Tourist

    Joined:
    Jul 18, 2014
    Messages:
    35
    Trips to Las Vegas:
    10
    So the reason he passed on NY for now if bc its for a casino only liscense in orange county? I guess the golf course is his ace in the hole to expand vegas if he wants it.
     
  6. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

    Joined:
    Jul 11, 2010
    Messages:
    6,842
    Location:
    Tennessee
    Trips to Las Vegas:
    50
    My guess: Wynn is done building in las vegas. With Wynncore, he already has the capacity he needs for the types of patrons he wants to attract.
     
  7. Malibugolfer

    Malibugolfer High-Roller

    Joined:
    May 25, 2011
    Messages:
    785
    Trips to Las Vegas:
    100
    I agree with UK. And with Wynn protege' Andrew Pascal partnering with Packer, and also Resorts World down there, there will be plenty of competition for Wynn's foreign markets.
     
  8. szeszetop

    szeszetop Tourist

    Joined:
    Jul 18, 2014
    Messages:
    35
    Trips to Las Vegas:
    10
    And elaine wynns nephew

    Since vegas did help him this qtr i hope at least continues to invest at least in upgrades. XS and encore beach continue to print $ for him
     
  9. RPMCanes

    RPMCanes High-Roller

    Joined:
    May 29, 2010
    Messages:
    998
    Location:
    Lawrenceville, GA
    Trips to Las Vegas:
    12
    The original plan called for four towers before the recession hit. Hopefully he will spritz up the Encore rooms (not that they need it).
     
  10. szeszetop

    szeszetop Tourist

    Joined:
    Jul 18, 2014
    Messages:
    35
    Trips to Las Vegas:
    10
    Where were the towers going to be? The north end?

    The plans for everett look amazing but I wonder if they will cater to mid rollers more in terms of room prices and comps.
     
  11. smartone

    smartone VIP Whale

    Joined:
    Jul 17, 2011
    Messages:
    5,265
    Location:
    Northern Nevada
    Trips to Las Vegas:
    204
    Who are "they"? Don't pay much attention to the small band of negative nellies here on the VMB who constantly threaten that they and all their nonexistent friends will boycott Vegas if it goes all 6/5 blackjack and the VP tables get much worse. Blah, blah, blah... While it's certainly hard to imagine another building boom for hotel/casinos like that the Mirage kicked off 20+ years ago, stagnation is not something to ever paralyze Las Vegas for long.
     
  12. Funkhouser

    Funkhouser In Charge of the Big Door

    Joined:
    Aug 20, 2011
    Messages:
    2,107
    Location:
    Cincinnatti, OH
    Trips to Las Vegas:
    45
    I think Steve Wynn has an idea in mind of what size of margin he wants on his operations ahead of going into a market. I doubt at this stage of
    the game he is going to put money at risk, where he has to risk much capital and minimum returns are not well within his target margin.

    That being said, it's safe to assume he will not being investing in Vegas market, unless he can pick up some distressed property with a potential for
    high future valuation. He is shrewd enough to know a bargain. He currently has enough land and capacity in Vegas to meet single digit growth for the next decade.
     
  13. szeszetop

    szeszetop Tourist

    Joined:
    Jul 18, 2014
    Messages:
    35
    Trips to Las Vegas:
    10
    "They" is mostly wynn himself and linda chen saying wynn resorts is really a macau company. At least the last few yrs.
     
  14. smartone

    smartone VIP Whale

    Joined:
    Jul 17, 2011
    Messages:
    5,265
    Location:
    Northern Nevada
    Trips to Las Vegas:
    204
    Well then... never mind.
     
  15. SH0CK

    SH0CK Stylin' and Profilin' Quasi Tech Admin

    Joined:
    Nov 2, 2001
    Messages:
    12,931
    Location:
    Tennessee
    Trips to Las Vegas:
    37
    They were going to use the golf course land.
     
  16. Funkhouser

    Funkhouser In Charge of the Big Door

    Joined:
    Aug 20, 2011
    Messages:
    2,107
    Location:
    Cincinnatti, OH
    Trips to Las Vegas:
    45
    History has a short memory. If people remember back in 2000 Wynn lost control of Mirage resorts and was forced to sell by the board to MGM due to his spending on Beau Rivage and art collection. Investors were pissed at the lack of return.
    While Steve managed a good deal per share price, don't think it taught him some valuable business lessons including share control and not to over leverage / spend. I think its too soon in the North strip re-vitalization process to speculate, but I am sure all eyes will be on SLS to see what happens. But my money is Steve Wynn sits tight and we will see little Las Vegas action since there appears to be opportunity in markets where he does not have to compete with other casino operators.
     
    Last edited: Aug 20, 2014
  17. szeszetop

    szeszetop Tourist

    Joined:
    Jul 18, 2014
    Messages:
    35
    Trips to Las Vegas:
    10
    True but he is flush now and older so he may want to leave a mark. But the cotai renderings look amazing and expensive and everett looks like a solid bet to be theirs so far.
     
  18. RPMCanes

    RPMCanes High-Roller

    Joined:
    May 29, 2010
    Messages:
    998
    Location:
    Lawrenceville, GA
    Trips to Las Vegas:
    12
    Hopefully an Encore room renovation project is in the works...
     
Tags:
Thread Status:
Not open for further replies.