On last week’s Wynn Resorts earnings call Steve Wynn went into a long discussion of how Wynn Las Vegas is adjusting their casino floor to maximize revenue. Here’s an excerpt of the call from Vegas Hotel News.
I also rearranged the floor in the casino to put our specialty games that are very popular with the public – that have a higher margin – and I put them in the hundred percent location. And I moved my games with less of a margin to secondary locations. Those changes have worked out favorably to us in the past three weeks, and that kind of re-examination… our slot floor has been re-done. We win more money with less games now. These are some of the reasons why we make more money than anybody else in Las Vegas.
You can read the full segment on gambling at Wynn from the Wynn Resorts earnings call from Vegas Hotel News.
Every business has the right to maximize their earnings potential. At the same time every customer has the right to take their money elsewhere.
I haven’t gambled at Wynn in almost a year and I don’t see myself returning any time soon. The emphasis on 6:5 blackjack, 2x craps (info on Vegas Chatter), poor video poker pay tablesand the focus on prominently featuring games with a high house edge really isn’t of interest to me.
I’ve always liked gambling at Wynn and especially Encore. While I’m looking forward to the renovations at Encore (details on Travel Vegas) and I love dining at SW Steakhouse I’m not sure I want to support Steve Wynn any time soon.
That rich dude decided to put his art on display in the esplanade (mall) between his beautiful Las Vegas casino towers and I’m impressed. I actually dig this statue and might make a trip over to Wynn just to see it.
There is no time frame on how long Popeye will be on display at Wynn so if you appreciate art (or Popeye) you might not want to wait to check it out.
In light of the pending implosion of The Harmon, Vegas Inc.decided to list the Top 10 Vegas Strip Hotel implosions. I love implosions and figured this was a good excuse to visit the youtube archives.
For the next couple of weeks I’ll grab video of these 10 Las Vegas Strip Hotel implosions. We’re at the end of the list and at the most engaging implosion – Dunes. The implosion looks like a big party and was topped off with a $1 million fireworks show. If you’re going to get blown up, this is how to do it! This is a great end to the Top 10 Vegas Strip Hotel Implosions.
Opened: May 23, 1955
Closed: Jan. 26, 1993
Imploded: Oct. 27, 1993
With the slogan “The Miracle in the Desert,” the Dunes offered a desert oasis theme and featured a 35-foot-tall fiberglass sultan on its roof. The walls inside the Dunes were slanted, mirroring desert tents.
Through the years, the Dunes continued to add “Arabian Nights” themed elements including an onion-shaped dome. The hotel eventually added performers such as like Aztec Birdman, who performed ritual dances, and flying Indians to perform by the pool.
In 1961, the Dunes added the Diamond of the Dunes, a tower that was the largest in the state, bring the total number of rooms available to 400. In 1976, another 17-story tower was added, which brought the number of rooms to 1,300.
The Dunes hosted entertainers such as Frank Sinatra and offered the first topless revues on the strip, known as Minsky’s Follies.
In 1987, Japanese millionaire Masao Nangaku purchased the resort for $155 million. Nangaku could not make the Dunes successful and in 1993, sold it to Steve Wynn’s Mirage Resorts Inc. for $75 million. It was ceremoniously imploded on Oct. 27, 1993. The Bellagio occupies the site.
Gary Loveman of Caesars Entertainment was on Nightly Business Report on PBS recently to talk business. Nothing he said was too surprising, but he did have a couple of interesting nuggets including;
“…we need more visitors and more visitors spending more money.”
“…we have the same amount of visitors, but they’re spending much less.”
The discussion revolved around President Obama‘s plans for employment and how to fix the problem. In addition to the quotes above he also said that Caesars isn’t looking to hire more and was critical of some of what the President’s plans were without coming off as cranky as Steve Wynn.
The Linq seems to be aimed at the middle class and besides the rent from the 60+ stores, I’m not sure this will bring in more affluent customers. In fact, he doesn’t seem to think that it will draw more people, but it will give more people a reason to spend their money on Caesars land. I’m not sure I see a goldmine if The Linq ever gets off the ground.
I’m not sure what the right answer is for the economy and Caesars Entertainment to do better is, but I don’t think I’ll be looking for a job there any time soon. Skip to 5 minutes into the show for the Gary Loveman segment, which lasts about 5 minutes or click here to go to the shows site.
Keith Olbermann was entertaining to me when he was on ESPNSportscenter. I didn’t watch Countdown on MSNBC because I tend to stay away from politics on TV. I don’t care about his politics, but he was fun with sports. I watch brainless TV and sports and I’m happy with that.
Anyway, Olbermann got the boot from MSNBC and is now on Current TV and he’s still doing the “Worst Person In The World” sketch. Last night Steve Wynn won the “Worst Person In The World” for comments he made about Barack Obama earlier this week. Evidently this made him a worse person than Sarah Palin and Congressman Alan West.
Take a look.
When I started writing this post I asked who was more obnoxious Steve Wynn or Keith Olbermann and Olbermann won in a landslide. The comment that I echo is from Denver Gambler ” Olberman for sure, he doesn’t have a snazzy casino”.
Now this brings up a new question: Would you rather be the “Worst” or “Most Obnoxious”?
Steve Wynn seems to care only about one thing – his business. There’s nothing wrong with that and there’s nothing wrong with the recent quarterly financial results at Wynn. Every quarter Steve Wynn takes a few minutes of his conference call to discuss what politics are helping or hurting his business. For the past few quarters he’s railed on President Barack Obama. This quarter was no different.
The man who played a major role in revitalizing Las Vegas is bashing President Barack Obama as “the greatest wet blanket to business, progress and job creation in my lifetime.”
Speaking to investors on a Monday conference call, casino developer Steve Wynn – calling himself a “Democratic businessman” – went on an extended rant against Obama and his policies.
His customers and the companies he works with “are frightened of this administration,” he said, “and it makes you slow down and not invest your money. Everybody complains about how much money is on the side in America.”
“Until we change the tempo and the conversation from Washington, it’s not going to change,” added Wynn, according to a transcript of the call’s question-and-answer session.
Steve Wynn owns the company and is allowed to use his quarterly earnings reports as a soapbox, so I don’t see anything wrong here as much as I feel his constant complaints to be boring, repetitive and obnoxious. Extreme talk like this (good or bad) just makes me tune out Steve Wynn. Frankly, the only reason I’m passing this info on is because I know others find it interesting.
If you’re interested to hear the Wynn conference call you can get it here.
Sensational headline? Maybe. Judging what Steve Wynn says in this video it seems as he doesn’t like nor agree with the Barack Obama and his staff’s current political policy. This isn’t the first time Wynn has gone off on a politician, but it is a new interview which, seemingly, was meant to discuss the excellent first quarter earnings Wynn had. Thanks to @brian_fey for the heads up.
Steve Wynn says in an interview with MSNBC that he’s considering moving Wynn headquarters to Macau.
Obviously, he’s trying to butter up the market but that likely won’t ever happen. Especially as gaming revenue growth in Macau has probably already peaked in popularity. Gotta love corporate speak.
On another note, his attitude towards creating beautiful and quality hotels is fantastic. I love the line “I don’t think bigger is better. I think better is better.” I’d rather focus on that attitude than the corporate gibberish.