Two Way Hard Three | Las Vegas Casino & Design Blog

March 31, 2006

Encore Rolling Forward; Golf Course To Be Developed in 2009?

Posted by Hunter

Reading Wynn Las Vegas' most recent SEC filing, a couple of items stood out.

Most of the stuff was very run of the mill but it did note that as of today, the company's lenders have approved the budget, plans and specs for Encore, which was the last issue, even if just a technical one. Groundbreaking is expected April 28th, the one year anniversary of the opening of Wynn Las Vegas.

Also, the golf course development is briefly discussed. Nothing revolutionary, the same old info regarding multiple lakefront hotels on that land. The one interesting detail was the disclosure that they don't expect any construction to begin there until 2009.

For those that like to read this stuff, here goes:

http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-SECText&TEXT=aHR0cDovL2NjYm4uMTBrd2l6YXJkLmNvbS94bWwvZmlsaW5nLnhtbD9yZXBvPXRlbmsmaXBhZ2U9NDA3MDMwMCZkb2M9MCZhdHRhY2g9b24=

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Categories: Business of Gaming, Casino Design, Las Vegas Strip, Wynn Resorts


Comments

Read archived comments (5 so far)
April 1, 2006 1:32 AM Posted by Mike E

On page four...

"We offer ... a guest loyalty program that integrates all gaming, hotel, food, beverage and retail revenue generated by a particular guest and compares it against incurred expenses to determine the profitability of that guest. Our rewards system offers discounted and complimentary meals, lodging and entertainment for our guests."

Are they saying they have a hotel loyalty program beyond casino gaming? If that's the case, I know of more than a few people who are due for some freebies :-).

April 2, 2006 9:18 AM Posted by detroit1051

>>Are they saying they have a hotel loyalty program beyond casino gaming?

Mike, I recall Steve saying something to that effect during the grand opening hype a year ago. He was promoting Wynn Las Vegas as a total resort, not just a casino, and that he welcomed loyal customers whether they gambled or not. I'm sure the value of players far outweighs hotel and restaurant cash customers, but you should ask about it.

April 2, 2006 2:07 PM Posted by Mike E

Detroit, I'll look into it.

Am I the only one against this whole "April 28th" thing. I understand it's Elaine's birthday, six year to the day the land was purchased, and the one year anniversary of Wynn LV, but we also saw how the place suffered from opening too soon because of the rush to meet that deadline. Encore's groundbreaking was scheduled for sometime in June or July, but moved up to April 28th. I just hope the rush to meet that deadline doesn't intrude into the design and development of the place.

April 3, 2006 7:44 AM Posted by Mike P.

Their loyalty program still needs a little work if they do have one. We're at 19 nights and counting in suites, we've eaten at 5 of their "fine dining" establishments - most of them multiple times, and so far this year put about $150K coin-in into video poker machines. So far we've gotten one mailing advertising winter slow season rates. No emails at all other than reservation confirmations.

Our gambling action has gotten us a few hundred bucks off our bills at checkout plus some free play that we haven't used yet. That's about what I'd expect. VP players don't get a lot of respect from strip casinos, especially players smart enough to avoid short pay machines. If they're looking at our total spending though I'd guess we're profitable enough to be mildly interesting.

Mike P.

April 4, 2006 4:40 PM Posted by josh

When the golf course development is built, do you think it will overshadow Wynn LV as Wynn's most spectacular?
Do you predict that Steve will build all the hotels himself or have major chains such as Hyatt, the Ritz?