Steve Wynn announced today at ceremonies for the opening of the Encore Macau casino that he plans a third casino in the gambling mecca and may relocate his company's headquarters there. Wynn Resorts has two operations currently in Macau, the Wynn Macau and the recently finished Encore.Wynn is often given credit as the man who revitalized Las Vegas, and his shift in focus from the Nevada gaming capital to Macau may be the final signal that Las Vegas' days as the world's center for gambling are over. Wynn led Vegas through the last twenty years by popularizing themed hotels and luxurious destination resorts, but even his Vegas investments have developed an Asian lean as Wynn has courted Asian tourists to the Wynn Las Vegas.
Wynn Resorts is dependent on its single Macau casino for 60 percent of the company's revenue. With the opening of the Encore in Macau, expectations are that number will rise even higher.
Wynn told reporters covering the Encore celebration that the new casino is meant to appeal as a boutique hotel, drawing high rollers that desire a selective, upscale environment. The planned project would be much bigger, competing with the world's largest casino, owned by Las Vegas Sands.
Steve Wynn did not give details on the potential move of his base from Las Vegas to Macau, but the very consideration of it indicates that Las Vegas may have to be satisfied as number two on the list of gambling cities around the globe.
Published on April 21, 2010 by K.C.Carmichael
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