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What happens with Wynn hotels now?

Discussion in 'Casino Industry & Development' started by soundchic, Jan 28, 2018.

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  1. Flowers

    Flowers VIP Whale

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    I'm not surprised and FWIW, if I were in the licensing business in NV, I wouldn't give him one. If he could get a license I'm not sure who as realistic matter would ever be prohibited from getting one.
     
  2. RobinL

    RobinL Tourist

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    WYNN sold the rest of his remaing stock in Wynn Resorts Ldt this evening
     
    Last edited by a moderator: Mar 22, 2018
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  3. gs32794

    gs32794 VIP Whale

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  4. Dean Martin

    Dean Martin VIP Whale

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    Well I'm sure we're better off potentially having a Chinese company own Wynn Resorts instead of an American that wants a happy ending....:poke:

    Google Galaxy Entertainment if you don't know who they are.

    For now, I believe that leaves Elaine as the largest shareholder in the company and I've said before that it wouldn't surprise me to see her evolve as "the Wynn" behind Wynn Resorts in the future.
     
    Last edited: Mar 23, 2018
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  5. uconncraig

    uconncraig Low-Roller

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    I agree 100%
     
  6. djen

    djen Low-Roller

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    My thought is for the most part things will not change much. The formula works, money is being made. Though over time without the leadership and commitment to service, both will suffer some as the bottom line begins to take priority.

    The curious angle is Elaine Wynn. Will she hold onto the stock or sell? Would be a real shot at her ex if she is the last Wynn standing in his empire.
     
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  7. RPMCanes

    RPMCanes VIP Whale

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    I just hope they maintain their level of service and luxury. If Roger Thomas stays with the company, I think it will.
     
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  8. Dean Martin

    Dean Martin VIP Whale

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    The thing is, Steve and Elaine have been married and divorced twice. They know each other like a book and they’ve proved more than once that they can put business before personal issues. Wouldn’t surprise me a bit if this was all orchestrated. The sudden dropping of both law suits and then Steve selling his shares, making her the top holder. Those things didn’t happen by accident.
     
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  9. Flowers

    Flowers VIP Whale

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    THIS, re: both points, including Roger Thomas. Keeping hope alive!!!! :love::love::love:
     
  10. leo21

    leo21 VIP Whale

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    No, this looks like the board of directors is doing everything to shed themselves of Wynn. The casino in Mass is in jeopardy and they think getting rid of his presence altogether will save the project. The NV gaming commission will take action and maybe this will lessen their reaction as well. Settling the Okada issue made their stock sales agreement moot. And she is still suing the board of directors.
     
  11. leo21

    leo21 VIP Whale

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  12. Flowers

    Flowers VIP Whale

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    Thanks for posting this article. More heads are going to roll for sure.
     
  13. Dean Martin

    Dean Martin VIP Whale

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    I don't have access to the WSJ so I never got to actually read the first story and I saw this one on an article that showed up in the Finance section of Yahoo under WYNN stock. All I can say is....WOW. I've been a long time SW fan and cheerleader but this article pretty much tells a story of a very long history of making women do things they don't want to do and making them feel like they have no choice because he controls their job. I always wondered why (as nice as it is) he would want to live at the Wynn Resort, well now I have a better idea. SW was living in his own controlled atmosphere where he controlled everyone and everyone was afraid of his power. IMO, there is no recovering from this and he'll be lucky to escape charges. The only thing that might spare him is all the time that has passed.

    This is a case of absolute power absolutely corrupts. What a terrible thing to do to people that work for you and probably at one time had a lot of respect for you.

    To be honest, I'm a little embarrassed that I was always such a fan and thought it was probably isolated cases. This is just wrong on so many levels. Even the people that appeared to have covered up for him were probably in the same position as those women. You either get on board or get off the ship and oh yea....probably get black balled in the town to boot.

    I've said this before but a lot of us have romanticized the days when Vegas was run by the Mob and not the corporations but can you imagine the stuff like this that went on in those days? Probably pale in comparison because sometimes the consequence was you just "disappeared".

    I hope the company itself emerges as a better place to work and the resorts carry on. The ideas were truly sensational....too bad the creator wasn't.
     
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  14. threebluestars

    threebluestars Tourist

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    Sounds like the Wynn Boston property is dropping the Wynn name for Encore. Feeling like Wynn Las Vegas may be next ...
     
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  15. dmr

    dmr Registered Abuser

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    I just don't understand why many Las Vegas fans seem to hold people such as Bugsy, Lefty, and Tony the Ant in such high regard! In reality, these were ruthless hoods who would think nothing of squeezing a cheater's head in a vise or gunning down an associate over a cost overrun. I'm very sure that the same types of coercion and abuse that we see today went on in the Good Old Days when the Mob Ran Vegas (tm).
     
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  16. Dean Martin

    Dean Martin VIP Whale

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    The problem with these shareholder law suits is they do nothing but create wealth for the ambulance chasing lawyers...the shareholders always get pennies on the dollar. I was involved in a case many years ago and was supposedly getting a little more compensation because I was willing to testify. When I saw how much we (the shareholders) got and how much DB lawyers got, I'll never take part in one again.
     
  17. TomTWI

    TomTWI Custom Title

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    I got a check yesterday from a class action. I was shocked how much it was $29.65!!

    Guess where I'll be investing that money in a couple days!

    TomTWI
     
  18. Dean Martin

    Dean Martin VIP Whale

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    McDonalds with the grandkids?:poke:
     
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  19. Grid

    Grid Well-Known Member

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    Since they already have an Encore in LV, would they go with Encore and Encorer?

    Since she is now the largest single stock holder, maybe just add "Elaine" in front of the "Wynn" signs and call it a day.
     
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  20. Dean Martin

    Dean Martin VIP Whale

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    I was thinking about this too. Why not just call the whole resort Encore and have 2 Towers like Bellagio does.
     
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