Two Way Hard Three | Las Vegas Casino & Design Blog

In a Wall Street Journal article posted on Friday the 26th of January, 2018, Steve Wynn was accused of sexual misconduct based on interviews with 150 people.

I haven't posted here in years but I've always left the archives up because I thought they were interesting. Well, I can't let all of the previous praise lavished on The Steve stand here without making sure any space aliens that land here in 2127 have the full story.

Shame on you Steve. You are disgusting.

Happy Memorial Day to all y'all out there. I've got a little bit of hot info for those of you taking the day off to relax.

Steve Wynn, Chairman and CEO of Wynn Resorts and recent Cotai land grantee went on the record with Macau Business magazine to talk in detail about the project and also a little bit about Las Vegas. Some tidbits:

- The property will cost about $3.5 billion to build.
- Construction starts in June.
- The land is setup for a single hotel - future expansion will be limited to smaller additions.
- The project includes a 300 meter (almost 1000 feet) long lake. It will be bigger than Bellagio's lake and feature more advanced water fountains that cost about $90 million to build.
- The hotel is in an 'X' shape with maximum 45 meter distances to guest rooms.
- Like Encore Macau, it's all petite suites and larger.
- It will include villas with outdoor pools like we've seen in Las Vegas.
- 2,000 rooms.
- Around 40 retail shops.
- No 'Alex' - he's sold on the idea that people like 'fun' dining and don't want to sit for ages and have Michelin Star food.
- The property will open at once. "We don't do phases"

When it comes to Las Vegas:

- He talks about Climax as if it's still happening in Vegas, though he does not say where. This is a pretty recent interview that seems to have been given after we had heard that the Climax club planned for the Alex space was scuttled due to soundproofing problems.
- Apparently a new show is being developed for Las Vegas that could also work at the Cotai property. New show? Interesting. Displacing Le Reve? Something permanent for the Encore Theater? Miss Spectacular re-born?

Anyway, lots of info here and while some of it was already public, nice to have a single source.

Go go Cotai.

Here's what it's going to look like.

That is all.

So - remember that terrible Web site that the folks at Wynn launched, that everyone hated? Yeah, well, it's gone now.

Check out the new WynnLasVegas.com.

More traditional navigation. Booking engine on the home screen. Nice photos... Progress.

Maybe the last version was just a prank.

[thanks to a special tipster for letting us know the new site was going up.]

Before the recent flurry of legal activity involving Kazuo Okada and Steve Wynn, the Japanese billionaire had a reputation as a bit of a mystery man. But back in 1988, he was at the forefront of Universal Company's U.S. ad blitz. After the jump, see an ad from the February 1988 issue of Casino Gaming magazine that puts Mr. Okada front and center.

Episode #74 is up!

Listen here: http://www.vegasgangpodcast.com/2012/02/vegas-gang-74-february-23rd-2012/

This time on the show:

- Wynn vs. Okada
- Echelon
- MGM Results and CityCenter's Flaws
- Dr. Dave's Banging Week

** Sure Bets **

Chuck - Delancy Street Foundation Moving Team
Dr. Dave - KISS $500 VIP Ticket to Golf
Hunter - Ollo Clip

So, I'm sure you're all aware that on Sunday morning, the Wynn vs. Okada fight went from a couple of dudes duking it out in the quad to a full-on thermonuclear war.

Lots to talk about here. We're doing a special Vegas Gang show this week to discuss.

As probably everyone that reads this site knows, Wynn Las Vegas launched their re-designed Web site yesterday. The result is another sad chapter of decline for the company.

Chuckmonster at VegasTripping.com sums it up very well:

What you see before you on WynnLasVegas.com is not only a representation of Steve Wynn's declining eyesight, but the sheer lack of vision (and courage) by the team he has hired to execute orders.

Read the whole piece, it's a great take on the seemingly Jitterbug-inspired abomination they've created.

Not only is the new site ugly and brand destroying but it's also less functional. They removed restaurant menus, all the information on the casino including credit applications, the poker room stuff (there is a separate site for poker but good luck finding a link from the main site) and more. Maps? A site map? Gone. Pretty much the only thing it has going for it is some great photography. The in-room tours are basically just re-encoded versions of the videos that run on the Wynn TV channel in the guest rooms.

Again, back to Chuck:

Steve Wynn trusts Roger Thomas to turn every drywalled cube into a lustful space filled with fantasy and wonder. Where is Steve Wynn's "Rog Thom" of the internet?

Excellent point. Wynn as an organization has never fully mastered the 'net. That was starting to happen a few years ago as the e-strategies team filled out and their advice was heeded... and then they all left as the Spiegel-era set in. This is the result.

It's pretty amazing to see a well-respected company fall so hard on it's face with something as public as a Web site, especially an organization that's ostensibly all about design. I'm sure the people that worked on this project are nice folks but this is just embarrassing. It never should have left the lab and honestly, someone that's doing this level of work shouldn't be at an organization like Wynn.

The fact that Steve made a big deal on their earnings call about how proud they were shows that he's completely Internet-tone-deaf. Somehow a guy that typically has excellent taste not only approved this but thinks it's great. Steve - you may be an expert on hotels but I am confident I am more qualified when it comes to the Web: this is not good.

I showed this off to colleagues that build Web sites. They burst out laughing... and don't I wish I could share the choice comments that some in the industry sent to me.

Wynn should ask for their $29.99 back, revert to the old site immediately and, if they really want to break ground on the Internet, start over and do something that's worthy of all of the brand equity they've created through excellent hotel design.

Blow our minds with some cutting-edge responsive design that seamlessly works across all screen sizes and platforms. Integrate more of their backend systems to give the guest more power to control their stay from the Web. There's a ton of things they could do to be a leader in their industry online.

Or just leave it like it was...

Disclaimer: I really have no idea what I'm talking about. For all I know, Okada is a lunatic and Wynn Resorts are protecting themselves from a madman with some sort of hidden agenda. Still, for the purposes of this post, let's assume he's a reasonable, successful businessman that's a bit weirded out that a company he owns 20% of is being secretive about their finances.

Well, I guess he's not gonna be chairman anytime soon.

Today we learned that Kazuo Okada, the largest individual shareholder in Wynn Resorts and a board member, is suing the company (SEC document). Why? He questioned a few of the company's large financial transactions and wanted to examine the books. The company said no. He believes that his shares, and probably more importantly his place on the board, gives him the fiduciary bonafides he needs to get that access.

The way the suit reads, Okada was against a $135 million donation to the University of Macau. He objected. The board didn't listen and went ahead anyway and from what I can tell, that set him off.

He wants the details on that transaction, wants to know where a $120 million he invested in the company in 2002 went (supposedly earmarked for Macau development ; the company at first claimed they didn't know he invested it - not confidence inspiring) and additional details on the amended shareholder agreement that went through after Steve and Elaine Wynn divorced in 2010 (the agreement split the ownership but effectively left the voting control with Steve).

What would one find if they examined the books of the pre-public company? Well, we have no idea... but I don't think it would be a surprise to see some lavish spending on executive travel to Macau, office suites and the like. Maybe something more juicy? Maybe, uh, 'gifts' to government officials in China? Without any details, we can't judge but something about that time period has Okada at least curious... Maybe there's some potential for embarrassment if some of this comes out? Who knows.

As far as the Macau University donation goes, given the term of the payments and them coinciding with the current expiration of Wynn's concession in 2022, I can't help but wonder if this 'civic good' is at least partially motivated by that renewal process. From what we're told in these documents, a donation of that size was unprecedented... and as far as I know, none of Wynn's kids want to go to school there (the Steve Wynn Center for Gaming Research? Paging Dr. Dave).

Why would the company say no? Either there's something in there they don't want to share or they simply don't believe the request is legitimate... but given that it's now a public spectacle, there has to be more to it. Perhaps the relationship between Okada and Wynn has completely broken down?

For Okada to go to court against a company where his investment is worth over a billion dollars, he had to be really pissed. How could this impact future gaming expansion in Japan, where Okada's partnership was seen as giving Wynn Resorts a powerful leg up? One thing for sure: this will be something to watch.

Update: Wynn Resorts responded today with a strongly worded press release suggesting that Okada's request was without merit and pointed to a potential falling out between Okada and the board over his participation in a casino project in the Philippines.

On January 27th, Steve Wynn will turn 70.

It's a big milestone for the man who many credit with re-making The Strip. Competitors like Sheldon Adelson have shown that you can successfully run a gaming company well past that age (Adelson will be 80 next year) and The Steve will likely be at the head of Wynn Resorts for quite some time.

Still, it's worth exploring: what is the succession plan at one of hospitality's most admired companies? One of the advantages that Wynn Resorts has is a deep bench of talented people. That said, there's only one Steve.

We lost Steve Jobs in 2011 and there are parallels here. Both men built companies very much in their own image and were well known for being 'Tastemakers in Chief' - a powerful trait that allowed both Apple and Wynn Resorts to delight millions of customers as their leaders have had a good sense of what people are willing to spend money on.

Today, Steve Wynn serves as both CEO and Chairman of the Board at Wynn Resorts. Beyond that, he's the defacto head of the design apparatus, working closely with both Roger Thomas and DeRuyter Butler to imagine new projects and renovations.

My guess is that when Steve does eventually step down, we'll see not only a split of the CEO and Chairman roles but beyond that, others in the Wynn organization stepping up to fill the enormous hole that's left by him moving on. No one person can replace him.

When it comes to the Board of Directors, the two obvious choices for the chair are ex-wife Elaine Wynn or partner Kazuo Okada. Given Okada's desire to stay out of the spotlight until now, the smart money here is on Elaine. She knows the company well and would be an excellent steward, assuming she would want to serve. As a major shareholder, her interests are in the right place and let's be honest, her name is on the building too - she'd do the right thing for the company. If Elaine is unwilling or unable to serve, I'd look to Linda Chen as a possible chairwoman, assuming she didn't get the CEO nod (see below).

The CEO job is harder to call but I think there are at least three likely candidates. First off, you can forget about them going outside to find someone - this is a company that elevates to the top job from within. My picks for the corner office: Marc Schorr, Linda Chen or as a longer shot, Matt Maddox.

Marc Schorr: Perhaps the obvious choice - the current COO has been a Wynn confidant for decades. Interestingly, when at Mirage Resorts, it was current MGM exec Bobby Baldwin, not Schorr, that Wynn trusted with Bellagio, the company's most important asset (Schorr was president of The Mirage at the time of the merger). That said, Schorr proved his loyalty by coming along with Steve to Wynn and has been rewarded with a lot of responsibility. People familiar with the executive suite will tell you that there are few major decisions that don't touch Schorr's office. If Steve Wynn has a number two, it's definitely Marc, making him an obvious choice. Would he want the job? My impression of Schorr from afar has been as more of a background guy - the kind of person that every big company needs in the number two spot - someone who can crack heads and deal with the knucklehead stuff that shouldn't be on the CEO's desk... but who knows, maybe this is the gig he's been training for.

Linda Chen: Another long-time Wynn employee, Linda has been bringing in massive amounts of international business since The Mirage era. A member of the board as well as the president of Wynn International Marketing, Chen is also COO of the Macau subsidiary. Steve Wynn has indicated that Wynn Resorts is becoming more of a Chinese company and our own analysis has shown that from a financial perspective, that's undisputed. Macau is where all of the growth is and will be for some time. It would make good sense to have a Chinese-American running the company in the 21st century.

Matt Maddox: The 35-year-old CFO is an undisputed financial wizard. One of the company's strongest assets of late has been their balance sheet and financial structure, allowing them to weather the 2008-era storm that almost caused MGM and Las Vegas Sands to default. Maddox was the executor of that winning strategy and is thought to be well liked by Wynn and other managers. Putting him in the top job would be a bold move and is probably a long-shot... but I would not at all be surprised to see him running the company someday. Former Mirage CFO Dan Lee, another financial genius who worked with Wynn, eventually left to run Pinnacle. That may not have ended well but things with Lee there could have easily gone differently - Pinnacle made a lot of progress with Dan at the helm. Will Maddox end up running a Wynn competitor down the road?

Who do you see as the next generation of Wynn Resorts leadership?

Wynn's Tower Suites are about to make their public debut.

WTS may have opened with the rest of the property in 2005 but once the current renovations are complete, they'll come out from under their rareified shell. For better or worse.

Rewind six months. As we began to learn about the slated property changes at Wynn Las Vegas, it was hard to predict exactly how they would manifest.

Re-imagined High Limit Slots. An updated lobby. A new nightlife concept. Ok then - probably more of the same... or so we thought.

Fast-forward to today: photos of the new Tower Suites lobby. Last week, a peek at the new High Limit Slot area. When a company like Wynn - wizards of a successful, repeatable process - do something new, it's worth taking notice.

From what we now know, the changes at Wynn Tower Suites are not superficial - we're talking about a fundamental change in the boutique hotel's value proposition.

Originally envisioned as a unique hideaway, separated from the masses, the new WTS design encourages integration with the rest of the resort.

A space that was previously private has been publically 'ropified', a direct lesson from the nightclub profits earned nearby at Tryst and XS.

While Tower Suites allure used to be a dignified and detached luxury, with this update it's setup to become luxury-on-display. The new sightlines and inevitable plate glass will show off what the 'peasants' in the Resort rooms are missing. This is a new kind of velvet rope and the goal is to never have a customer wonder why they should pay extra for Tower Suites.

How will guests react? It's going to be interesting to see.

Of course, for the highest end customers, things won't change much. They already get villas, private entrances and personal butlers. But for the Tower Suites guests who inhabit most of the nightly seats at Bartolotta, Wing Lei and SW, it will be interesting to see how they react. The privacy was a selling point.

Some have previously argued that the addition of Marilyn Winn-Spiegel meant that a Harrah's attitude was taking hold at Wynn Resorts. I'd argue it's more likely we're seeing a Drai/Waits/Morton/Hissom takeover: the lessons of nightlife, spreading throughout other operations.

Ooontz-ooontz-ooontz indeed.

Based on a tip from the VegasTripping boards, a link to a Siegfried and Roy tribute video featuring Steve Wynn includes a background shot of a hotel... that doesn't look entirely familiar.

Is this Wynn Cotai?

The geography fits - the ocean is clearly visible in the background.

The design? Well, it's not quite the hug I was looking for but I can see some of the design elements that have been described.

What are we looking at?

Episode #67 is up!

Listen here: http://www.vegasgangpodcast.com/2011/09/vegas-gang-67-september-29th-2011/

This time on the show:

- An Interview with Roger Thomas, Executive Vice President of Design, Wynn Design & Development.

DON'T MISS: Vegas Internet Mafia Family Picnic

** Sure Bets **

- South Florida Casino Expansion
- Tassels, Fringe, Trim and Imperial Orange
- Super B Burrito @ Eastern & Pebble
- BrainToniq

So that whole press release from Wynn Macau that strongly implied (if not straight up said) that their Cotai project was moving forward? Yeah, I guess someone forgot to tell the government.

Today in the Macau Daily Times, Secretary for Economy and Finance, Francis Tam Pak Yuen unceremoniously bursts that balloon. His quote?

"Companies may release their news, and the news should correspond to reality. Anyhow these news release won't affect the process"

Despite the fact that local officials seem to be back-pedaling on Wynn's go-go attitude, the piece also goes on to say that it's likely the project will be approved (it was filed before the 2008 cut-off) - it's just a matter of when.

Must be fun doing business in China, huh? If this happened in the US, my guess is that The Steve would be bellowing from the mountaintops about the 'unstable business climate'.

Personally, I can't wait for Cotai construction to start - if it's as magnificent as the principals have been hinting, it will certainly be something to see.

The Las Vegas Review-Journal is reporting that Wynn Resort's Cotai project in Macau is moving forward. The project has been described by Steve Wynn as the 'best thing I've ever done'.

The second Macau hotel for Wynn Resorts has been long on the drawing board. Designs have supposedly been completed for many months - several quarterly calls have been punctuated by the company expressing their ability to start whenever they had their land concession and project approved.

It appears that has finally occurred.

According to Wynn's Macau subsidiary's financial disclosures, this will mean a $50MM payment will be made for the land in the next 15 days. The RJ sites a $193.43MM payment but from their story it's not clear how they arrived at that figure - perhaps some combination of the relinquishment in the linked disclosure and additional fees? [UPDATE: see the release linked below]

http://www.lvrj.com/business/wynn-subsidiary-gets-nod-to-develop-cotai-property-129633858.html

This is a major step forward for Wynn Resorts who have been waiting to proceed on this site for some time.

UPDATE: The Wynn Macau release is here: http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MTA2NjUwfENoaWxkSUQ9LTF8VHlwZT0z&t=1

It appears that Jerry Beale, hired to replace the then-retiring interior designer Roger Thomas, has left Wynn D&D and returned to his previous gig at Wilson Associates in Los Angeles.

Thomas famously decided to un-retire after the economy went sideways, leaving him running the interior design side of Wynn's creative shop - the gig that Beale thought he was being hired for.

Roger Thomas, in a specially narrated video from Steve Friess, insists that there's no bad blood (check the podcast feed) - and for all I know that's correct - but clearly, this didn't play out the way it was originally intended. Apparently, his contract ended a few months back and he decided to go back to LA. Roger is quoted in that interview as saying they remain close friends.

At Wynn, Beale is credited with leading the development of the Spa at Encore Macau as well as contributing heavily to the Encore Beach Club in Las Vegas. Wilson Associates also has done work in gaming, including the Mansion at MGM Grand and villas at Caesars Palace.

If you haven't already, listen to the latest edition of The Strip Podcast - Thomas' interview is full of interesting new info about Cotai and more.

According to the Macau Daily Times, MGM Paradise have completed the designs for their Cotai property.

http://www.macaudailytimes.com.mo/macau/27537-MGM-completes-design-plan-for-Cotai.html

This property, along with the potential future development from Wynn Resorts await government approval.

As noted by David McKee, it's not clear that American developers would be so patient if their grand plans were being so slowly mulled by Clark County personnel.

As long as Macau prints money, expect no criticism from the 'so blessed' American participants. Remember: China good / Obama bad.

Episode #62 is up!

Listen here: http://www.vegasgangpodcast.com/2011/06/vegas-gang-62-june-23rd-2011/

Jeff kinda sounds like he was calling from the moon, so sorry about that.

This time on the show:

* Bellagio Re-Design [photos]
* Sahara Sale [photos]
* George Maloof and his Plams
* Atlantic City: Toast?
* Wynn + Adelson Are Buddies
* Predictions

** Sure Bets **

* 'Midnight in Paris'
* Jeff Simpson on Twitter
* Paternity Leave (but stay away from aggressive ducks)
* 'Everything is a Remix'

In today's flurry of email headlines (which continue whether I'm in the office or not) I read a blurb saying that Wynn Resorts "has become" a Chinese company. Certainly this is no surprise to Wynn. I remember him saying that as far back as 2005, though then it was more along the lines of, "One day Wynn Resorts will be a Chinese company.

Of course, this is getting press now since it's being coupled with his criticisms of the Obama administration, but looking at the numbers, it's clear that Wynn Resorts has been a predominantly Chinese company for quite some time. Here's a chart:

As you can see, there's nothing particularly momentous about the first quarter results when it comes to the revenue split: in fact, Macau's share is down slightly from calendar 2010. The bigger news, though, is that Wynn Cotai is about to start in earnest. He's not far enough along that a peek at the just-opened Galaxy hasn't sent him back to the drawing board for some elements of the Cotai project (and wouldn't you love to have been part of that conversation?), but he's clearly thinking build, rather than plan, for the near future. As soon as the government gives him its OK, he's going to start construction.

The potential for the future is what's changed his mindset. Let's fast forward to 2016, when Wynn Cotai has a few quarters under its belt. Wynn predicts that the Cotai project will double his Macau revenues. Using calendar 2010 for a baseline, and assuming that Las Vegas and Wynn/Encore Macau revenues remain stagnant (they won't, but lets assume they do for the purposes of this exercise), Cotai's doubling of Macau revenues does the following:

So, if all other things remain the same and Cotai performs as Wynn expects, by 2016 more less than one-fifth of total Wynn Resorts revenue will come from Las Vegas.

That being said, it makes a lot of sense to hold his annual meeting in Macau. It's where most of his revenue comes from, which means it's where his most important customers are. And it makes even more sense to speak of Wynn Resorts as a predominantly Chinese company, because that's where most of the action is.

When Harrah's got out of the Promus umbrella, it didn't consider moving its headquarters back to Reno, which was where the company was founded and, until the 1980s, where it was based. Instead, it moved to Las Vegas, which was clearly the center of the gaming world and a market that Harrah's wanted to get more involved in. (Today, as Caesars, it is nothing if not involved in Las Vegas). Wynn's increasing Sinoization is a sensible response to the direction that the business is headed.

Also, Wynn's a developer at heart. He's clearly relishing the challenges of building Cotai, and he's not done learning about the Macau market. Here's an extended quote:

"I believe the Cotai [project] is the best work we have done. It's a departure in many aspects. It has many new things and new approaches to the way the property is presented. I think the public is going to be very excited. It's very comfortable and user-friendly. Now that we have nine years of experience in Macau, as you saw with Encore we are learning how to really address the emotional and physical needs of our guests.

"That kind of insight comes with time and experience. Thankfully we have the experience."

It's easy to see how China's at the top of Wynn's mind these days. He's getting to build there, something he's not going to do in the United States for the foreseeable future. If I was Wynn, you couldn't get me to talk about anything but China these days.

A couple of great new choice Steve Wynn quotes in this RJ piece:

"They started CityCenter on all debt alone. It was luck they bumped into those guys from Dubai," he said. "They gave them $5.4 billion. It's gone. How could you lose $5.4 billion here, you've got to be an imbecile or a moron."

and also, on Cosmo:

"The place is worth $500 million," he said. "It will throw off $40 million to $50 million at nine times earnings. That's 10 percent of what it cost."

Oh, BTW - congrats Steve!

Read the whole piece here
http://www.lvrj.com/business/wynn-offers-perspectives-on-internet-poker-macau-president-121047868.html

Working on my lecture for tomorrow about Las Vegas gaming in the 1980s and 1990s, I wanted to go back to some of the original sources. So I've been browsing through the archives quite a bit.

I found a press release issued on November 14, 1989 titled "MIRAGE RESORT SETS NEW DIRECTION FOR LAS VEGAS." For those keeping score at home, that's 8 days before the Mirage's grand opening.

Here's a few excerpts:

--------------------------------------------------------------
Already, many are saying The Mirage will create a new standard for resort hotels that will redefine Las Vegas as the resort destination of the future.

"We said when we first announced the project that it would be a property which would help set a new direction for Las Vegas, one which would appeal to the entire family audience," said Stephen A. Wynn, chairman of Golden Nugget, Inc., developer of the plush, new resort.

"We've created an alternative to the traditional style of the Las Vegas casino-hotel," said Wynn. "Everyone will recognize The Mirage as a special place: a resort hotel which includes a casino, not a casino which includes a hotel."

The Mirage will attract on audience which has largely passed up Las Vegas as a choice for vacation travel. Younger, affluent families have, in recent years, sought out Mexico, Hawaii, and Caribbean destinations when choosing vacation spots. Now, with the Mirage, Wynn expects to bring some of these consumers and their families to Las Vegas instead.
--------------------------------------------------------------

So was Wynn right or wrong?

Clearly, The Mirage changed Strip casinos. So from that angle he definitely was right. The casinos built in the 1990s, to one extent or another, either tried to emulate or tried to differentiate themselves from The Mirage. It's definitely the most influential casino since Caesars Palace. I'd say that it's even more influential than Caesars, since the things built after Caesars (Kirk's International and MGM) didn't really incorporate its biggest breakthrough, the theming. The Mirage, on the other hand, immediately impacted casino design.

But Wynn wanted to more than change the way casinos looked--he wanted to change their audience. And I don't think he was successful at that. The Mirage didn't really redefine Las Vegas as a family-oriented destination. Sure, families come here, but they always did. And I'm not sure how many of them choose to come here instead of going to the Caribbean or Orlando.

So it's an interesting look into the past, particularly when you consider what Wynn's done since--after Treasure Island, he gave up the idea of appealing to families entirely. And there's that whole no-stroller policy at his casinos, which would definitely leave some families out.

When I finally get the chance to put a lot of my lectures and other writings into book form, I want to really explore this thread, since I don't think the Vegas of 2011 is at all what people anticipated in 1989, and the difference says a lot about what Vegas really is.

It's obvious that Steve sees WYNN as the spiritual successor to Mirage Resorts, not MGM Resorts International:

As a company that has safely conducted gaming in the US for more than 40 years, we believe that the same can be done for poker on the internet

From the Wynn Resorts press release today about their alliance with PokerStars.com.

Wynn Resorts was founded in 2002 (though some of it's subsidiaries existed as far back as 2000).

This time on the show:

Mr. DeRuyter Butler, Executive Vice President of Architecture @ Wynn Design & Development is our special guest.

We discuss Cotai, Fontainebleau, his role at Wynn D&D as well as CityCenter and challenges of working in China. Plus, we find out that Sheldon has been giving us all the middle finger since 1999.

This is a 'don't miss' interview.

If you love casino design, construction and all the thinking behind it, check it out.

Check out the show: http://www.vegasgangpodcast.com

Feel free to leave your comments below. If it's a question that you want asked on the show, please make that clear in your post. You can also send those to editor@ratevegas.com.

Here's my promised write-up on La Cave Food and Wine Hideaway at Wynn Las Vegas, a great new addition to the food and beverage lineup at the resort. I had a great time and I'm looking forward to going back on a future trip.

Continue after the jump for the full details.

Finally, after a few weeks of percolation (oh, and Cosmo madness + a major app update) here is my write-up of a stay in a new Parlor Suite at Wynn Las Vegas. I came in to share the details with y'all and to generate material for the next Vegas Mate content update.

Photos: http://vegasmediagroup.smugmug.com/WynnParlorSuite/WynnLasVegasParlorSuite/15342884_StqTd (Note: some of these are a little hazy due to a camera malfunction - sorry).

All the details are after the jump.

Happy holidays to all!

Jeff is back with a special column, and while prostitutes and lawsuits might not be traditional Christmas fodder, I recommend reading anyway. Come on, you know you're stuck with your relatives and probably bored out of your mind right about now, right?

Enjoy... and who doesn't want an Adelson voodoo doll? Last minute gift idea!

Cheers.

It's been quite a week in Vegas-land. Hard to imagine that less than a week ago, we were reading a WSJ story that validated pretty much everything I wrote back in September about CityCenter.

From there, we were off and into conference calls, some of which included a few interesting tidbits. MGM told us that both Bellagio and MGM Grand will be getting room refurbs next year, while Steve Wynn explained that their Cotai development work was wrapping up and they'd start moving dirt around any day. The best part of that call was The Steve's ludicrous assertion that they're not secretive about their hotel designs - he practically laughed the questioner off the call. We'll see detailed models and drawings of Wynn Cotai just as soon as some inept outside designer posts them online, not because the company was feeling generous.

Speaking of leaks, they continue at Aria, where we've learned that they're working on a massive new signage package to lure Cosmo visitors and that they're even considering building The Strip's largest marquee. I've got loads of new CC stuff to share with you as soon as I'm done digesting it all.

That brings us to today, with the only piece of news this week that really surprised me - Wynn Las Vegas superstar Andrew Pascal has decided to leave the company, to be replaced with the reliable Marilyn Winn Spiegel (someone we considered as a VPP guest before we settled on the excellent Tom McCartney). What is Andrew going to do next? He's a young man, I can't believe that he's ready to retire.

Pascal has worked for Wynn for a long time but before this current stint, he was in Silicon Valley as Chairman of WagerWorks, a company that provided online casino games, playable for points. Is he headed back to tech? Chuckmonster is betting on Icahn but I just can't imagine that sort of transition.

Ichan's not really in hospitality, he's in hospitality finance - moving money around from distressed property to distressed property, a far cry from actually serving guests. Nope, I think for Pascal I'd put my money on a few months time off and then into some new entrepreneurial venture of some kind - more likely Silicon Valley than Spring Valley though. Maybe Aunt Elaine has eyes on angel investing - we know she can afford it.

What's more interesting is Wynn hiring a veteran Harrah's exec for such a tough job. The last HET (or should I say CZR?) alum to have the gig, Don Marrandino, didn't even make it to opening day. Spiegel is well regarded but the properties she's overseen for Loveman have very different guest satisfaction aspirations. Hopefully we're not in for a rocky transition just as Las Vegas starts to ramp up again.

Interesting stuff... In other news, I've been thinking recently about re-calibrating this blog and it's content. The landscape has changed dramatically since I started doing this and in a world where my time is limited, I want to make sure I'm spending it to do something that matters, not just be the second, third or fourth site to post on the same topic. More on this as decisions are made.

One last thing - if you haven't already, maybe go ahead and nominate this blog and my app Vegas Mate for The Trippies - you have three days left before they close. Maybe, just maybe, I'll be so pleased with being nominated that I'll spill a bunch of new juicy secret details about everyone's favorite massively overpriced, failing joint venture project.

Cheers.

The Fontainebleau is about to open.

A re-invigorated Plaza project has broken ground and Boyd is halfway through putting up a gorgeous red-gold glass curtain wall on Echelon Place. Jim Murren is a semi-successful investment banker in Connecticut, the Marnell's own the recently joined Rio/Palms complex and Nevada's recently elected junior senator is attending the groundbreaking of a monorail extension that will bridge McCarran Airport, The Strip and Fremont Street.

Can we fast forward to 2017? I'm sure that's what some Las Vegas casino operators would wish for. It's hard to blame them.

Things look a bit sour for Las Vegas - August numbers notwithstanding, let's be honest - some of the city's best boom-time customers don't have any more money to spend on bottle service and $500 dinners at SW. Sure, the biggest players haven't lost enough to kill their gambling habit but that mid-tier backbone - successful young people, boomers and a smaller segment of folks truly blowing the rent on a weekend in Vegas - they're still pretty fucked up from this recession.

Well, at least it's not as bad as it is in Atlantic City where the top operator doesn't even want to own the other half of their property. In my mind, AC is toast.

As someone that has spent the last ten years as mostly excited about Las Vegas and now sells a product that is inexorably linked to the city, I have to say that things look very tough for the next few years.

A CB Richard Ellis study publicized today really laid out the bad news. The market won't be able to handle the massive increase in supply for some time. Thanks a lot CityCenter. At least we don't have any more rooms coming online anytime soon... Oh, crap... Thanks a lot Cosmo.

The Cosmopolitan will be the last property for awhile, and that's almost certainly a good thing. In a way, they may end up with an advantage - they can be the 'newest property on The Strip' for five years or more. That title worked great for The Aladdin. Oh well, whatever, nevermind.

Some of the issues mentioned in the report are structural - air traffic is more difficult than ever in the era of shoe-bombers and naked body scanners. Asian baccarat is slated to increase but that alone is not a market savior. The formerly solid underbelly of Las Vegas tourism - that combination of California drive-ins along with southern and midwestern vacationers... well, they're hurting... and that's not going to change anytime soon (damn that Obama-Reid-Pelosi-Boehner-Palin-McCain cabal!)

It's easy for Wynn to charge $200+/night for a weekend night when the town is half full but when Luxor, Excalibur, Monte Carlo and Treasure Island are all offering rooms in the sub-$50 range (sans the ridiculous resort fees), those rates are harder to justify... and how anyone could feel good about a $150/night room at Aria or Vdara mystifies me. Just say no.

But it's not the Wynns of the world I'm worried about. Aside from maybe Las Vegas Sands, they're probably best positioned to ride this turbulence out. As a lover of the history of Las Vegas, it makes me a little sad to see how little of their revenue now comes from the 'Gambling Capital of the World'. In quarterly earnings today, LVS reported that barely 15% of their revenue comes from their two Strip casinos. With Singapore on the rise, LVS is again a gaming company to watch, even if their numbers don't yet match Chairman Adelson's bluster.

Why am I writing this? I dunno. For whatever reason, a few stories today sucked me in and I felt compelled.

See you Saturday.

Jeff is back with part two of his take on the Downtown Las Vegas scene and what might help it turn around.

Keep reading after the jump and if you missed part one, it's right here.

In a totally unrelated thought - don't forget that we're giving away an iPad.

Harrah's Entertainment - Net Income: -$274 million (loss) Revenue: $2.2 billion More Info

MGM Resorts International - Net Income: -$883.5 million (loss) Revenue: $1.53 billion More Info

Boyd Gaming - Net Income: $3.4 million Revenue: $578.4 million More Info

Wynn Resorts - Net Income: $52.4 million Revenue: $1.0 billion More Info

Las Vegas Sands - Net Income: -$4.7 million (loss) Revenue: $1.59 billion More Info

This thread will be updated as other companies report.

This morning Wynn Resorts pre-announced 2nd quarter results for their operating subsidiary that runs the Wynn Las Vegas / Encore resort complex on the Las Vegas Strip. These results do not include Macau operations.

The complete news release is here: http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=1449953&highlight=

The results clearly show that Las Vegas is struggling. Wynncore is arguably the very top of the market and compared to a year ago, they are taking a bigger loss. That said, occupancy and ADR don't look as horrible as they could have been. Despite increased occupancy, REVPAR was down.

I'm sure the folks at Wynn are looking down the road at CityCenter without a distinct lack of kind words - adding thousands of rooms into the market has only served to depress rates further (we're still waiting for an increase in supply to raise room rates, as some analysts have suggested would be the case when more rooms come online later this year).

The news release also mentions increased health care costs. Can't wait to hear another episode of the Steve Wynn vs. Obama Show on their next conference call.

Way back in 2006, Wynn Las Vegas bucked a long standing casino trend and decided to split casino dealers tips with their supervisors.

Since then, it has been the subject of much ink and several trips through various parts of the legal system. Today, the Nevada Labor Commissioner has spoken: no state laws were violated.

http://www.lasvegassun.com/news/2010/jul/12/court-casinos-can-split-dealers-tips-supervisors/

How long until other properties start to do this? Harrah's has already asserted their right to do this at Caesars, despite the fact they also say they're not planning to do so.

This is a big milestone in this case and a major setback for those fighting it. Expect appeals though, this isn't over.

I'm always game for a new Roger Thomas interview and when this one popped into my RSS reader, it didn't disappoint. Happy to see a bit of new ground covered - Thomas profile and interview pieces are often much of the same over and over.

Local food expert Max Jacobson sits down with Thomas to discuss his origin, background and influences.

http://foodwinekitchen.com/?p=888

Part one of a two part series.

Think back to 2005 in Las Vegas.

This is when the main building blocks that are now Encore were being fleshed out. At that time, 10,000 hotel rooms were planned for the New Frontier and Stardust sites. This would make the planned Strip porte-cochere a very important part of arrivals at Encore.

Or so everyone thought...

Quick link to my complete set of 120 photos:
http://photo.ratevegas.com/Other/Encore-Beach-Club-Opening/12383285_fRXH4

Also, my buddy Steve was long on the tour too and his take is here.

The rest of my write-up follows after the jump...

First off, a note - very excited to announce that Jeff Simpson will be writing a bi-weekly column for Two Way Hard Three. I'm very excited to have him on board!

* Encore Beach Club Opens
* MGM Mirage vs. Perini
* Atlantic City Numbers Down
* Tropicana Reborn?

Feel free to leave your comments below. If it's a question that you want asked on the show, please make that clear in your post. You can also send those to editor@ratevegas.com.

Tomorrow marks the opening of the new Encore Beach Club and photos have started to leak out. The other day, we had some nice nighttime shots posted over at VT.

Today, we have a few shots from the recent 'play days' going on as they put the place through its paces. Thanks to Dave for submitting these shots.

I'll be on-site for a tour of the new facility tomorrow and will report back.

Update: Just finished my tour. The link to the photos is below, though I haven't had time to organize them yet.

What did I think? The place is gorgeous. Top notch, well built - just what you'd expect from Wynn. I need more time to process my thoughts but I have to say any concern I had is pretty much washed away. Yes, I still think Surrender's design is a little over the top but the pool complex more than makes up for it.

The four main bungalows have to be the nicest of their type on The Strip - complete with fully decked out bathrooms w/ showers. The balconies over the street are a trip. No Wi-Fi unfortunately, a somewhat strange omission.

At full capacity, the place can hold about 2800 people. That's big. That said, the indoor portion that is Surrender is fairly small, about Blush size.

At night, there's a light-show built into the walls - we didn't get to see it but they were very enthusiastic about it.

The gaming includes a craps table, which is a nice touch. Limits will vary of course.

The newly expanded Switch not only has a magnificent glass wall but now includes a full patio for dining.

Some of my photos: http://www.flickr.com/photos/lasvegas/

I did count more than a few Ed Hardy shirts in the line, which was pretty long.

Wynn Resorts - Net Income: $27.0 million Revenue: $908.9 million More Info

Boyd Gaming - Net Income: $8.4 million Revenue: $398.4 million More Info

MGM Mirage - Net Income: -$96.7 million (loss) Revenue: $1.4 billion More Info

Las Vegas Sands - Net Income: -$28.9 million (loss) Revenue: $1.33 billion More Info

This thread will be updated as other companies report.

Win an iPad! Details here: http://www.ratevegas.com/blog/2010/03/submit_your_veg.html There will be a live broadcast of some sort to award the prize on Thursday. Look for details here on the blog in the next few days.

NOTE: This recording got screwed up somehow and we lost a segment of the show. Apologies to my fellow panelists and to the listeners. We salvaged what we could. Enjoy.

* Wynn Resorts Discussion (partial)
* MGM Mirage Name Change
* Boyd / Station Drama Continues
* Taking Photos In Casinos / New Luxor Policy

Feel free to leave your comments below. If it's a question that you want asked on the show, please make that clear in your post. You can also send those to editor@ratevegas.com.

NOTE: We recorded an updated segment on Wynn in Macau, plus Marina Bay Sands: http://www.vegasgangpodcast.com/2010/05/vegas-gang-special-wynn-episiode/

The WSJ is reporting that Wynn Resorts will break ground on a new Cotai property in Macau next year and open in 2013.

The 52 acre property will include a single hotel with about 450 gaming tables.

http://online.wsj.com/article/SB10001424052748703763904575195821478896414.html

Wynn Resorts is opening Encore Macau this week.

Well, here are 88 photos of the Encore Beach Club construction site, taken last night and today, both from the ground and my 58th floor room.

Enjoy.

http://photo.ratevegas.com/Other/Encore-Beach-Club-Construction/11896799_Ms6PH

Mike is back with Strip Walk and this time, he's heading into Palazzo, Luxor, CityCenter, Treasure Island, Caesars Palace and more.

Food reviews for Solaro (Palazzo) and Grotto (Golden Nugget).

Complete photo gallery is here:
http://photo.ratevegas.com/Other/Strip-Walk-April-2010/11815947_kraey

With a very terse statement, Wynn Resorts announced that it was terminating the Philadelphia project that they jumped into just weeks ago.

Press Release:
http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=1411138&highlight=

LVRJ:
http://www.lvrj.com/business/wynn-pulls-philadelphia-casino-project-90270487.html

The project had been met with intense criticism from some locals. Also, Wynn himself got into a little bit of hot water by showing designs ahead of time to Las Vegas freelancer Steve Friess. Friess has posted a blog entry to clarify - this was not his fault.

What will Wynn Resorts do next? Any chance of an Atlantic City resurgence given this latest move? They are opening Encore Macau later this month but after that, the development pipeline is all Wynn Cotai, which is still in the planning phase.

The company hasn't not had a hotel under construction since Wynn Las Vegas started going up in 2003 (I'm pretty sure I'm right about this - WLV opened 2005 while WM was still under construction ; WM opened late 2006 while ELV was just getting started ; ELV opened 2008 while EM was still under construction).

Mike's adventures continue: Encore Las Vegas, Bellagio, Aria, The Crystals and a stop at Valentino Grill @ The Venetian.

Click through to read the complete text. Photo gallery is here:
http://photo.ratevegas.com/Other/Strip-Walk-March-2010/11542241_VD4fu

Last month, several renderings (since removed) of the exterior of the Switch Beach Club at Encore were revealed. They didn't offer much in the way of a surprise - escalators, sweeping stairs and arches, all in the Wynn D&D aesthetic, matching their recent work.

Today, the sleuths at VegasTripping.com turned up a few more renderings - this time sketches of potential interiors. My first impression: hmmmmmm.

Roger Thomas, my vote for one of the best interior designers on the planet (and the best casino designer ever), talked a bit about his intentions on a recent episode of The Strip Podcast. These renderings match that conversation pretty well, lending them additional validity.

These leaks have tempered my excitement about the project's design. Granted, a pool day club is not my personal idea of a good time but I was expecting more. Something special - to match Encore's spa, restaurants, casino and guest rooms, all of which are A+.

I was hoping that whatever came next would at least make me forget losing the beautiful tree-lined, flower ringed atrium that Encore opened with.

Is it possible these aren't final? Yes, it is. The source is solid though - this guy has worked with Wynn D&D and it's predecessor Atlandia Design for years. Perhaps the structure, as built, will be a stunner. I plan to be there opening day to see for myself (Mike E is letting me borrow his Speedo).

Will this project end up being a bit of a dud, at least in terms of the 'evoca-tecture' that Thomas is known for? I hope not... but now I'm a bit worried.

Thomas' work is about creating moments - I hope this is a good one.

Macau's new Chief Executive, Fernando Chui, gave his first policy address March 16. He had been expected to announce stringent plans to slow the overheated gaming market in the Chinese region and announce steps to diversify Macau's economy. Gaming revenues increased almost 70% in the first two months of this year compared to 2009. Gambling accounts for about three-quarters of government revenue for Macau However, his comments appear to have resulted in a sigh of relief by major casino operators who already have a presence in Macau such as Wynn and Las Vegas Sands.

Reuters reports that Chui intends to limit the building of new casinos. This could help current operators' profits by protecting the market from oversupply of new casinos. Wall Street will give its opinion when the NYSE opens this morning.

To read Reuters:
Macau government to regulate the building of casinos

Wall Street Journal initial story (subscription may be requred):
Macau Gambling Industry Awaits Chui's Speech

Update: RJ's Howard Stutz weighs in.
Macau Curtailing New Casino Construction

Update #2: The market liked WYNN and LVS today. Wynn +4.48% and LVS +7.33%.

This time on the show:

* MGM's Aria - 2 Months In
* MGM Mirage Exits Atlantic City / Wynn Enters Philadelphia Market
* Greenspun / Station Casinos Relationship Disintegrates
* Lake Las Vegas Shuts Down
* President Obama's Remarks and Visit
* Harrah's Interested in The Palms?

Check out the show: http://www.vegasgangpodcast.com/2010/02/vegas-gang-44-february-25th-2010/

Feel free to leave comments below. Trivia questions can be sent to editor@ratevegas.com - we might use yours on the show.

In a much rumored development, Wynn Resorts has announced that they are slated to become the managing partner for the casino project slated for the Philadelphia waterfront.

http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=1394346&highlight=

This is a slap for New Jersey and is potentially another significant nail in Atlantic City's coffin.

Here's a little more from the local media:
http://www.philly.com/philly/news/20100223_Steve_Wynn_takes_over_Foxwoods_project.html?cmpid=41144277

What's not clear is how much, if any, design influence Wynn Design and Development would have over the project. It's hard to imagine Wynn putting their name on something they didn't design or at least make-over. Time will tell.

UPDATE: Here's the Web site for the project as originally envisioned, including some renderings: http://www.foxwoodspa.com/overview/

Our own mike_ch is back with a 'mega' Strip Walk, including his first time at CityCenter.

As regular readers know, Mike is never short of opinions - you'll get his full take on the new MGM Mirage development as well as a boatload of photos.

This is a good one - you don't want to miss it. Enjoy.

Complete gallery: http://photo.ratevegas.com/Other/Stripwalk-January-2010/10930508_gxkui

Reader @mac78130 caught these, potential renderings of the Encore Beach Club project in Las Vegas.

http://www.revitcity.com/gallery.php?action=view&gallery_id=11435

http://www.revitcity.com/gallery.php?action=view&gallery_id=11439

We don't know if these are real or not but they do match the project as proposed, with a walk-way across the existing parking garage entrance. If they are indeed real, I assume the Wynn overlords will have these taken down soon so see 'em while you can.

I love big cities. I'd much rather ride a subway than sit on a beach. I love museums and cultural events, great restaurants and urban activity.

New York is one of my favorites. If I had to live outside the US, I'd probably settle in London. I've been lucky enough to see Cairo, Jerusalem, Rome, Paris, Chicago, Istanbul and much of the rest of the world. Great cities are complicated, charming, messy, crowded, contradictory... and wonderful.

MGM Mirage is trying to replicate the best bits of those experiences in a new project opening soon on the Las Vegas Strip - CityCenter.

This past week, your humble host was given the opportunity to tour part of this new hospitality complex - 67 acres at the heart of the Las Vegas Strip, located between Bellagio and Monte Carlo.

My experiences on that tour are after the jump - enjoy. CityCenter will be a hot topic of discussion for months if not years. I can't wait until you all can share your own thoughts.

Update: We're not allowed to publish the actual map but Chuckmonster traced a copy and posted it on VT. This is the casino level and includes much of the stuff I saw on this tour. His version looks identical to the 'real' one. Enjoy. http://www.vegastripping.com/news/news.php?news_id=3019

I'm trying something a little different this quarter - a single thread to cover all gaming companies reporting.

I will update this thread as other companies report.

Wynn Resorts - Net Income: $34.2 million Revenue: $773.1 million
* Wynn Las Vegas / Encore Las Vegas: ADR: $210 Occupancy: 83.9%
* Wynn Macau: ADR: $263 Occupancy: 89.2%

Boyd Gaming - Net Income: $6.3 million Revenue: $398.2 million
The Echelon project will remain mothballed for three to five years.

Harrah's Entertainment - Net Income: -$1.05 billion (loss) Revenue: $2.28 billion
Harrah's is privately held.

Las Vegas Sands - Net Income: -$123 million (loss) Revenue: $1.14 billion

MGM Mirage - Net Income: -$750.4 million (loss) Revenue: $1.533 billion LV Sun

Station Casinos - Net Income: -$455.4 million (loss) Revenue: $255.7 million. Station is privately held. http://www.lasvegassun.com/news/2009/nov/16/station-casinos-loss-widens-reorganization-costs/

Two interesting but unrelated stories this morning:

* Wynn Resorts will be paying a special dividend to shareholders and then start paying a regular dividend in 2010.

* CEO Dan Lee has left Pinnacle Entertainment, a Las Vegas based casino operator with properties in various US markets. Lee was Mirage Resorts CFO in a past life and partly responsible for assembling the parcel that is now CityCenter.

Posting both for the sake of discussion...

The Encore Beach Club, which we broke all the way back in August, is finally starting to take shape.

This photo was posted to VegasTripping.com today (used with permission - thanks blackjacker1979).

Yikes. It appears they've yanked out much of the plush-ness that was the Encore atrium. Here's what it looked like before Paul Bunyan came through:

You can see that even the stuff around the edges of the high limit room is gone. It's slightly out of frame but I assume this tree, an ancient Aloe, is gone too - though I assume moved and not killed as it was over 100 years old. The company has a good track record for preserving these things, some of which are worth tens of thousands of dollars.

I can't imagine that Paige Dixon, Wynn Resorts' chief horticulturalist, enjoys ripping out something that worked as well as this did - it was a small space but one of my favorites in the Wynncore complex.

It seems odd to start indoors on this project - most of the work will be outside. This area is open to the casino, the upscale Switch (though reportedly underperforming) restaurant and the High Limit Slot room. Perhaps this landscaping will be replaced in-kind before exterior work even begins?

Another shot:

By now, I doubt that any regular reader isn't familiar with the VegasTripping.com / Wynn Resorts flap over wynncore.com.

Well, Charles S. Monster has posted their planned response and I think it's just about perfect (except for Steven vs. Stephen - sorry, couldn't resist the nitpick).

As Chuck's partner in the referenced EncoreOpening.com Web site, I can confirm his origination of said term, which no doubt has entered our lexicon - I use it myself frequently.

I'm typically not one for boycotts or protests but there is no doubt that Wynn Resorts made themselves look a bit silly this time around. Maybe they didn't realize who the domain belonged to or its intended purpose. Let's hope that they buy into CSM's plan to reconcile - I'd rather see Twitpics of Macau than the inside of a courtroom.

Of course we'll all be watching to see what happens... and I'm sure I'll ask him about it on the next VegasGang.

Speaking of casino opening Web sites, we're reprising our Encore performance for ARIA... though we have a few tricks up our sleeve to amp it up a bit. Stay tuned.

In Boyd Gaming's Call, they said that Echelon would remain dormant for three to five years, but they wouldn't take down the construction already started: "We anticipate using or incorporating the structure that's already in place into the new project."
I don't know the cost of clearing the land compared to maintaining the construction hulk, but this is obviously detrimental to The Strip. Further, when the market recovers, it doesn't seem likely that Boyd would follow its original vision for the development.
Boyd should be a good citizen and remove the skeletons. We may see how much influence Steve Wynn has on the subject: "When told that Boyd wasn't going to do anything with Echelon until the next presidential election, Wynn became somewhat incredulous. He wants to see Echelon's unfinished steel structure disappear as much as he wants to see the Obama administration vacate the White House."

Echelon Could Use Some "Tarp" Assistance

Is there light at the end of the tunnel? Gaming stocks ended the 3rd Quarter with very nice share price increases. Now, what will happen when CityCenter opens?

Strip stocks stage September surge
LV Sands, MGM Mirage, Wynn Resorts rise

As we've previously reported, Encore Las Vegas is looking at replacing the Las Vegas Strip porte-cochere with a new pool complex, tentatively named the 'Switch Beach Club'.

This rendering was presented tonight to the Clark County Planning Commission:

The complex should be open for next year's Summer season.

Some recent photos of this area: Exterior 1, Exterior 2, Exterior 3, Construction Exterior.

Thanks to @mtc for the higher-res image.

Wynn Resorts has an appointment to see Clark County about a big potential change to Encore.

It seems that they feel the Las Vegas Strip porte-cochere is a bit of a waste of space - they want to replace it with a pool and nightclub complex, right up next to Las Vegas Blvd.

Here's the filing with the county: PDF Filing w/ Clark County

Sounds like they would create a new entrance to this addition from Las Vegas Blvd. as well as create a pedestrian bridge for people walking in front of the parking garage entrance.

What will happen to the Encore atrium, Switch and high limit areas? Will they have to be modified to accommodate this?

We're working on getting more info from Wynn PR and also other channels.

Thanks to Detroit for giving me the heads up on this filing.

Update: We hear that the project is scheduled for Q2 2010.

Over the past weeks, Wynn Resorts have been posting some new videos to their official YouTube channel.

Well, now it seems they are distributing them as a video podcast as well:
http://itunes.apple.com/WebObjects/MZStore.woa/wa/viewPodcast?id=324891950 (opens in iTunes).

Perhaps not a podcast in the traditional sense but interesting to see them experimenting with this stuff.

Las Vegas based Wynn Resorts reported their second quarter results this morning. Net revenues were below many analysts expectations but EBITDA was stronger than expected.

The press release is here:
http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=1314279&highlight=

Occupancy in Las Vegas is off almost 10 points from the year ago quarter and ADR is down to just over $200 as many recent visitors can attest to. REVPAR in Las Vegas was off over 35% to $188, though over 2,000 additional rooms are included in the figures for this quarter.

The stock has been trading up $5/share as of this writing.

Update: Fixed the poorly worded headline.

Thanks to Mike E over at VegasTripping.com for catching this one - a multi-part video interview set with design genius Roger Thomas, Executive VP of Design at Wynn Design and Development as he was honored this past February in Las Vegas.

Thomas was responsible for many major Wynn designs at properties including Wynn Las Vegas, Encore Las Vegas, Wynn Macau, Bellagio, Treasure Island, Beau Rivage, The Mirage, Golden Nugget and more.

Roger Thomas - Chapter 1
Roger Thomas - Chapter 2
Roger Thomas - Chapter 3
Roger Thomas - Chapter 4
Roger Thomas - Chapter 5
Roger Thomas - Chapter 6

There's a story circulating that indicates Wynn Resorts may offer some shares of its Macanese operations on the Hong Kong stock market. The move could raise up to $2 billion.

The RJ has more: http://www.lvrj.com/blogs/stutz/Wynn_planning_IPO_in_Hong_Kong.html

A Union Gaming analysis indicates that Wynn Resorts' balance sheet is strong and that the cash is not required to meet existing obligations. If this is true, does that mean WYNN is playing it safe or about to embark on a new project?

Of course, Las Vegas Sands has floated a similar idea several times and never pulled the trigger.

MacauTripping got a great tip to some renderings done for Wynn Design and Development by Mike Hong and Associates. Along with renderings for Encore in Macau (SW Steakhouse?), there's also concept work for unbuilt resorts in Singapore and Monaco.

http://www.macautripping.com/tripping/post.php?p=367&src=rss

Enjoy them while you can - they may be pulled down at some point.

Here's a play by play of my recent return from an Encore Salon Suite. Enjoy!

Yes, Strip Walk is back - July 2009 edition. This time, Mike added a little food critique as well.

The photos are here: http://photo.ratevegas.com/gallery/8741533_RQdWc

Enjoy!

Fontainebleau is in trouble but maybe they can hook a high-profile sugar-daddy to bail them out.

Execs from Wynn Resorts and Harrah's have toured the property recently.

http://www.lvrj.com/business/48673312.html

Personally, I can't imagine Wynn buying this place - the exterior is just so damn ugly and it's way too far along to change significantly. At bargain basement prices though, you just never know.

Mike is back with a Strip Walk for June 2009 including Encore, Palazzo, Treasure Island, City Center and more.

As always, the photo gallery is here: http://photo.ratevegas.com/gallery/8511233_PnJR7

Click through to read more.

Happy to be back after a little bit of a break. Lots to talk about, as always.

We discuss:

* MGM Mirage Pulls a Rabbit Out of its Hat
* Fontainebleau May Not Be Totally Screwed (we'll see)
* UNLV Center for Gaming Research Trends
* MGM Mirage Selling Properties

Feel free to leave your comments below. If it's a question that you want asked on the show, please make that clear in your post. You can also send those to editor@ratevegas.com.

Las Vegas based free-lancer Steve Friess has written an excellent piece on Wynn Design and Development Executive Vice President Roger Thomas, who we learned last week will be staying on with Wynn D&D.

If there's one person responsible for the colors, textures and look inside Wynn's creations, it's Thomas.

http://www.advocate.com/issue_story_ektid82278.asp

At the annual Wynn Resorts Shareholder's Meeting today, Steve Wynn announced that interior design guru Roger Thomas has decided in fact not to retire.

Originally the plan was for Thomas to end his long career with Wynn and for new hire Jerry Beale to take over that part of the department. Well, it seems Thomas wasn't as suited to retirement as he thought and he's decided to stay.

Beale and Thomas will be working together at Wynn D&D.

Wynn Resorts posted their first quarter numbers today:

http://www.lasvegassun.com/news/2009/may/05/wynn-resorts-posts-first-quarter-loss/

Looks like Macau, sometimes the lifeboat for earnings, wasn't able to pull it off this time.

Sad news this morning - long time Las Vegas headliner Danny Gans, who recently opened a new show at Encore Las Vegas, has apparently died in his sleep. He was 52 years old.

Gans previous show at The Mirage had a long successful run, as did his previous off-Strip engagement at The Rio.

While perhaps not known outside of Las Vegas, Danny Gans' show was one of the town's most popular.

I know Gans was married and had children. Very sad.

Review-Journal: http://www.lvrj.com/news/breaking_news/44137092.html

Las Vegas Sun: http://www.lasvegassun.com/news/2009/may/01/reports-las-vegas-headliner-danny-gans-dies/

Update: Richard Abowitz has the Wynn statement: http://vegasblog.latimes.com/vegas/2009/05/breaking-vegas-headliner-dead-at-52.html

Update: Steve Friess spoke with Gans manager Chip Lightman: http://thestrippodcast.blogspot.com/2009/05/danny-gans-dead-at-52.html

Many of you have already seen the two part interview with Steve Wynn that Jon Ralston did. If not, watch here:

Part One (LV Sun)

Part Two (LV Sun)

Now, along with giving insight into his political beliefs, one of the more interesting bits is the talk about Wynn shopping for assets on The Strip. We also discussed this on yesterday's Vegas Gang. Would Wynn buy Bellagio? I think the consensus is that he meant what he said - if the price is right, Wynn Resorts may be game. This should not surprise anyone.

Wynn says Las Vegas is better off with multiple operators duking it out. I totally agree and hope that one of the positive outcomes of this downturn is that we have better, more vibrant bare-knuckled competition on The Strip. That would certainly make my job more interesting.

Can't get enough of The Steve? He'll be on 60 Minutes this Sunday with a piece by my favorite interviewer, Charlie Rose.

Steve Friess has a very interesting photo post over at Vegas Happens Here:

http://thestrippodcast.blogspot.com/2009/04/foto-fun-inside-wynn-artists-studio.html

I'd highly encourage checking it out for any Wynn and/or design freaks.

Here's a short review from my most recent trip including tours of both the Duplex Apartments and Sky Casino at Encore. Enjoy and feel free to skip to sections that interest you.

According to CBS Channel 8 in Las Vegas, Steve and Elaine Wynn are divorcing.

The couple are heavily involved in their company, Wynn Resorts. Both are on the board of directors and their decision making is visible throughout their projects. Elaine is often credited with many of the concepts that have evolved into major resort features, from 'Mt. Wynn' all the way down to the uniforms on the restaurant and cocktail servers.

Steve has often indicated that much of the design, be it guest rooms or public spaces, is heavily influenced by a female point of view. There's a much repeated story about picking glass based on how the color would make female customers look, an example of how important they consider these things. I'd argue that this has been a very big part of the successes they've seen in their resorts.

It's not clear if Mrs. Wynn will remain active in the company, though in the past she has indicated her intention to do just that. I've met her only in passing but from what I have read about her, she just seems like an incredible woman and I personally hope she remains involved.

We're back with another episode! It can be downloaded here.

This time around we discuss:

* Boyd Offers to Buy Station Assets
* Wynn Resorts Q4 2008
* iPhone Card Counting Software Makes the Rounds
* 2008 Gaming Abstract Figures
* M Resort Opens Sunday

Feel free to leave your comments below.

Wynn Resorts has released their financials for Q4 2008:

http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=1259580&highlight=

Not great, as expected. Still, not terrible. For the quarter, adjusted net income was $7.6 million, down from $82 million a year ago. Most of this decline is due to Las Vegas as Wynn Macau saw an uptick. They also took a tax charge, bringing the GAAP earnings for Q4 to a loss of $159.9 million.

While only online for a little more than a week in 2008, we get our first peek at how the company will be reporting Encore. It seems that they will not be breaking the WLV/Encore numbers apart. For the Las Vegas complex ADR was $281 and REVPAR was $224. Occupancy was down to 79.7% for the quarter - incredibly low.

Wynn Macau seems to be humming along nicely with a 35.6% revenue bump over 2007.

All the details are in the press release linked above.

John Curtas is one of my favorite people writing about Las Vegas. His take on the Vegas food scene is always informative.

Curtas today posted a run down of some of his Encore experiences which are worth a read: http://www.eatinglv.com/2009/02/the-trouble-with-encore/

Now, I am no food critic. I have a fairly unsophisticated palette though I do enjoy food quite a bit. Having eaten at all of the restaurants in the post, while I cannot rebut any of the specifics, I will say that I would put Botero in the list of restaurants at Encore I would look forward to going back to. Both of my meals there were quite good, by my admittedly 'simple' standards.

Thanks to Drambuie Man, y'all get to see some updated photos of what's going on in Macau, specifically Cotai.

Chuck is going to be posting these over at MacauTripping.com, starting with the Wynn Cotai site.

http://www.macautripping.com/tripping/post.php?p=325

More to come over the next few days...

Updated: Chuck posted a few more of the photo sets:
City of Dreams
Encore at Wynn Macau

After spending a few more nights at Encore in the middle of January, I'm sharing some more of my thoughts after the jump.

Along with this, I am still working on editing some additional audio that was taken during various media tours - a substantial job given the varying quality of the source material.

Continue on for a little bit more about Encore.

Two unrelated but interesting stories:

Wynn Resorts has long prided itself on not laying off employees (though that does not seem to apply to the Wynn Design and Development sister company who recently shed several jobs). Today the company announced some measures aimed at keeping people employed, even if that means less pay, less hours and reduced benefits:

http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=1251586&highlight=

a little more from the LV Sun: http://www.lasvegassun.com/news/2009/feb/03/wynn-announces-salary-reductions-reduced-work-week/

In other news, the IRS followed disgraced Fry's executive Omar Siddiqui to The Venetian this week. They are investigating allegations of tax fraud. Siddiqui was a Las Vegas high roller at several properties for years.

http://www.mercurynews.com/topstories/ci_11611329?source=email

As some already know, I spent some time last week at Encore Las Vegas for what Wynn Resorts called 'Media Week'. Over the course of 5 days of events, various forms of media were invited to come stay at the hotel and participate in all sorts of events from back-of-house tours to eating in the restaurants.

After the jump for more, including a link to the audio extra...

Vegas Gang #25 is online.

This week on the show:

* Harrah's Suspends Caesars Palace Tower
* LVS v. ELAD v. WYNN
* Rumors Swirling Around The Mirage Sale
* Encore Media Week

Leave any comments below.

Vegas Gang #24 is online.

This week on the show:

* The Trippies are announced this weekend.
* Encore Las Vegas Opens - EncoreOpening.com
* MGM Mirage Sells Treasure Island to Phil Ruffin
* The Harmon / City Center / Light Group Parting Ways?

Leave any comments below.

Mike is back with the final Strip Walk of 2008.

Yes, there's some more Encore stuff in here but most of the column is dedicated to the rest of The Strip - do not fear, Encore haters!

Enjoy. Main text and photo links after the jump.

Thousands of pieces - furniture, hand-woven carpets, wall coverings, chandeliers and everything else that makes up a Las Vegas resort - were all custom-picked and either built or acquired for Encore at Wynn Las Vegas, the latest creation from a team that's been working with Steve Wynn for almost three decades.

Keep reading after the jump for more.

Here's my full review of Encore including four restaurants, the spa, and other notes from my December trip. Enjoy!

Many of my colleagues have also been writing about Encore and the opening festivities.

Here are some links not to miss:

http://www.vegastripping.com/features/feature.php?feature_id=154&page=1

http://www.dieiscast.com/2008/12/22/and-now-for-an-encore/

http://www.lasvegasadvisor.com/blogs/dmckee/index.cfm/2008/12/22/Deep-Red-Encore

http://thestrippodcast.blogspot.com/2008/12/encore-from-last-night.html

I'm sure there's more good stuff - feel free to add to the comments.

If you didn't catch them last night, I posted more photos on Flickr - these will also be moving to a gallery on RateVegas.com shortly.

http://www.flickr.com/photos/lasvegas/sets/72157611429036671/

This will be somewhat brief - I will write a full review of this first stay probably later in the week - but I wanted to share a few first impressions, brought to you from Encore's 61st floor.

I was lucky enough to be given a guided tour this morning by Roger Thomas, VP of Design for Wynn Design and Development. He is responsible for most of the interiors of the resort, along with previous creations like Wynn Las Vegas, Bellagio and Treasure Island. He refers to himself as an 'author' when talking about the design process. Given how much thought goes into his 'prose', I think that's appropriate.

The tour was great - I took a lot of notes that I will transcribe later.

In a word I would describe Encore as breathtaking. It's much smaller - very intimate. It is a fantastic complement to Wynn Las Vegas. The casino, as many anticipated, is very similar to Wynn Macau with smaller chambered areas. Personally, I think this design is a huge win, though it might not work with a larger space. It's more appropriate for a smaller casino floor as they have here.

There are walk up bars on all sides of the property - Thomas told me this was in direct response to customers wanting more bars on the WLV side. One of the bars on the east end of the casino is a huge glass wall overlooking the pool, flooding the gaming areas with natural light.

For restaurants, we saw Sinatra (retro, 60s Palm Springs kinda vibe, but not in an old sorta way). Later in the afternoon, I watched them install the 1953 Best Supporting Actor Award in its display. It's gorgeous.

Had a quick lunch at Society Cafe Encore and it was really fantastic. Simple dishes but my chicken sandwich was perfectly done.

The Esplanade includes several high end boutiques, including a new home store featuring Roger Thomas' furniture. The Wynn and Company Jewelers on this side are displaying the 'Wynn Diamond', a 231 caret stone that is breathtaking to behold.

While not being much of a nightclub guy personally, we walked through XS and I was impressed. I think it's got a chance at being the top spot in town - the interplay between the pool and the club is amazing and sure to be a huge hit, likely to be copied elsewhere.

The Tower Suites lobby is tucked away from the casino floor, as it is at Wynn Las Vegas, while the main Resort check-in is open to the main walkway on the North side. Tower Suites is less of a preferred option at Encore, though the rooms we did see on that side were huge and amazing. The 2 and 3 bedroom, two level sky villas sounded impressive, though we did not get to tour one (yet).

They're being pretty tough about photos so far. I'm hoping that will ease up at 8pm when the place officially opens.

There's a ton of interesting design detail in this place - as much or more than Wynn Las Vegas.

More to come. Please follow us at EncoreOpening.com and feel free to ask questions to us there via Twitter or if you can't do that, leave a comment.

Also, room photos: http://www.flickr.com/photos/lasvegas/sets/72157611429036671/

Thanks to readers for pointing this out.

The Las Vegas Review-Journal has posted a few PR shots of Encore's interior. They include a couple of shots of the atrium and the spa. Others have rightly pointed out there's a lot of design cross over between Encore and the 'Villa Atrium' at Wynn Las Vegas.

http://www.reviewjournal.com/media/slideshow/encore_opening/

Steve Friess has posted the audio from his Encore tour with Steve Wynn. Along with the audio, which I heard last night - it's great, he's posted a map of Encore.

Find them both at VegasHappensHere.com

Friends... Encore's opening is upon us. In case you missed the announcement, we'll be covering all manner of opening details at EncoreOpening.com as we partner with VegasTripping.com to bring you great coverage.

You can follow our Twitter and Flickr streams there directly. If you want to get involved, you can tweet to @ratevegas or @vegastripping to ask questions, leave comments, etc...

Also, several other readers who mentioned they'd be in town talked about perhaps getting together for a drink at some point... Several ideas were thrown around but if it works for others, I'd suggest 6:30pm on the 22nd at Parasol Up (Wynn Las Vegas). This would allow a little time for conversation before the public unveiling of Encore at 8pm. Everyone is welcome.

The Las Vegas Sun's Jeff Simpson, who is a regular contributor on the Vegas Gang podcast, interviewed Steve Wynn today at Encore.

Jeff was kind enough to share some of his thoughts with us here. Continue after the jump to get some good inside info.

Read more for the goods...

Be sure to stay tuned to EncoreOpening.com this weekend and into the 22nd for the best, most comprehensive coverage.

Yesterday, as I was waiting in an interminable airport line, I got a call that came up as 'Wynn Las Vegas' on caller ID. That could have meant one of two things - someone was calling to yell at me about something I wrote or there was some problem with one of my hotel reservations - as many of my readers know, I'm booked at Encore for opening night and will be at WLV before that.

Well, it was the latter...

The call was from an Assistant Hotel Manager who told me that the room I had booked at Encore, a Tower Suites room, was not available and I would have to be downgraded. The explanation was that a 'computer glitch' had made the rooms available for sale when they should not have been. The manager said they 'just figured it out' and were making calls to people. Well, I booked Encore the first moment it became available (someone told me I was the second person to book online, after our friend Brian Fey). That was October 31st.

So, for a month and a half, these rooms (as well as the larger suites) were incorrectly available to book online and apparently no one noticed until December 15th. Uh-huh.

My currently unsubstantiated guess is that they got a better-than-expected RSVP from invited guests and didn't have the rooms to put them in, so they started to bump regular bookings down from the Tower to Resort side of the hotel. I'm working on getting a confirmation on my theory.

Now, I understand the casino is a VIP business and this can happen. Such is life. My first issue would be if I was lied to about the computer glitch in order to get me to 'go quietly' and accept the lesser room. I suggested upgrading to a larger, more expensive room but those were also not available. I wanted to have access to a few types of different rooms for photos and commentary for you fine people, hence my protests when the call came in.

My disappointment will subside. Life will go on.

What's interesting though is that as of now, it seems like people that booked through Wynn's Web site got short shrift compared to other methods. For instance, another reader here had booked through the American Express Travel Agency and thus far has not received a similar phone call about adjusting the reservation. Will he keep his more deluxe rooms?

If this turns out to be true, customers need to be careful who they choose to book with. The advice I've handed out to hundreds of thousands of site visitors - that booking with the hotel directly is often the best route - may no longer hold true in all cases.

Did other readers get the same call? If so, how did it go? What did they tell you? Did they offer you any compensation? I know that at least Brian was able to negotiate a dining credit as part of this downgrade so it's not a total loss.

Vegas Gang #23 is online: http://www.vegasgangpodcast.com

This time around we cover:

* Mirage Volcano Reborn (Photos: here
* Encore Suites at Wynn Las Vegas Opens December 22nd - http://www.encoreopening.com
* Nevada Gaming Numbers from October 2008
* Las Vegas Marathon

Feel free to leave any comments below.

We've been alluding to our upcoming coverage for the opening of Wynn's Encore for some time and now we're spilling the details.

I'm proud to announce that we're teaming up with my esteemed colleague, Mr. Chuck S. Monster of VegasTripping.com to bring you coverage that will be the next best thing to being there.

We will both be 'twittering' (or is it 'tweeting'?) via Twitter, posting copious amounts of photos on Flickr and recording our observations for what I'm certain will be multiple blog postings. You can post your questions to our Twitter streams and we will do our best to answer them right from the casino floor.

To make it easier on your inner-Vegas-addict to keep up with everything, we're compiling it all in one place:

http://www.encoreopening.com

That's your one stop shop for all things Encore. The page updates itself so when the gates open, you can sit back and let the sweet nectar flow. See Chuck's note on browser compatibility here. His recommendations are seconded from this corner as well.

There's been some talk about doing a special 'Vegas Gang' episode and while the logistics of how possible that will be are not yet clear, rest assured that we will be getting everyone's opinion on Encore out to you as soon as humanly possible.

Mike_ch is back with his latest Strip Walk. This one is more in 'trip report' style as he was slummin' it down on The Strip for a few nights at The Grand.

It's a long one so grab a cup of coffee and sit back.

http://photo.ratevegas.com/keyword/stripwalk

Robin Leach has come forward with a couple of supposed Wynn Las Vegas / Encore updates.

First is that Wynn wants to do a BeeGees musical at Encore, which may or may not be called 'Stayin' Alive'.

http://vegasdeluxe.com/blogs/luxe-life/2008/dec/01/exclusive-news-steve-wynn-and-bee-gees-plot-emstay/

Second is that supposedly Wynn will break ground on a 4,000 seat 'Wynn Arts Center'.

http://www.lasvegasweekly.com/blogs/luxe-life/2008/dec/02/steve-wynn-plans-4000-seat-arts-center-new-encore/

I assume this would have to be out on the golf course side of things as there's little space elsewhere.

I should note that Leach has not always been the most reliable in the past. As some commenters suggest, it might be prudent to see what unfolds here.

A slightly less basic than before Encore Las Vegas Web site is live:

http://www.encorelasvegas.com

Before the resort opens, not a lot of photos... Really, not a lot of anything. Still, more than the teaser we saw before.

I have to admit, I'm getting very excited for the 22nd and can't wait to unveil our coverage plans. I think you'll be pleased.

PS - Hey, Wynn Resorts! What's the official name of this property? I've heard 'Encore Suites at Wynn Las Vegas' but now you are promoting this as 'Encore Las Vegas', 'Encore at Wynn Las Vegas' and even just 'Encore'. What's the story?

UPDATE: Site is back online.

UPDATE: The TV commercial is on the site.

Steve Friess' regular column in the Weekly focuses on Elaine Wynn this week who I am once again reminded is a class act.

Everything I've seen and know about Mrs. Wynn has been extremely positive and it's great to get a little more insight into her life.

http://www.lasvegasweekly.com/news/2008/nov/20/elaine-wynn-embracing-change/

Mike Ch is back with another Strip Walk. Click through to enjoy.

As usual, there are some photos included but this time around you'll see the debut of our new photo gallery. Gone (hopefully) are the days of duplicated photos, strange bugs and error messages. It's still being tweaked so let us know if you find problems but generally I think it's a nice improvement.

The new gallery is here: RateVegas.com Photo Gallery

Lastly, if you read Mike's prose you will see he's soliciting photo and recon requests from you guys for his next trip. Please respond in the comments here.

Just got off the Q3 2008 call for Wynn Resorts. Final quarterly numbers are here:

Wynn Resorts Q3 Results

On the call, the company discussed it's cash position (strong), it's future outlook and plans.

Encore is scheduled to open December 22nd, though it's still not 100% clear the first date that the public will be able to book a room. We should get that information in the coming weeks.

When asked about development on Cotai, Steve Wynn stated that they were waiting to see evidence that the current supply in Macau had been absorbed properly and at that time they'd proceed on that front. With The Venetian and Four Seasons on Cotai, the market does seem to be struggling somewhat to support the new properties, with the visa restrictions contributing to that.

It sounds like Wynn Resorts is in no hurry there - they plan to build what they describe as the world's most amazing resort and one would assume anything that fits that description will stand the test of time.

On the topic of purchasing perhaps distressed gaming assets, that pretty much was shot down - Wynn likes to build, not buy.

Overall, quite a bit of confidence from the principals.

Updated: As of this morning, Encore is accepting reservations from opening night (December 22nd). Yours truly will be there that first night, reporting all the details... We'll have photos, blog updates and live twittering.

Vegas Gang #20 is online: http://www.vegasgangpodcast.com

This time around we cover:

* Trippies 2008
* Gaming Stocks Slide
* Bellagio Turns 10 To Little Fanfare
* How MGM Mirage and Harrah's Market

Feel free to leave any comments below.

After finally getting temporary certificates of occupancy for part of the structures at Encore, planning for the opening is starting to firm up.

We're hearing that Wynn Resorts staff can now start to use the hotel tower and new convention rooms with more to come as other areas are completed.

The other tidbit that's starting to leak out is that instead of a grand opening for Encore like the sort we're used to, the Company may opt instead to have a gala birthday celebration for Steve Wynn (his birthday is January 27th) to celebrate the opening of the hotel.

Yesterday Wynn Resorts put out a press release that once again mentioned that the hotel was taking reservations from January 12th onward. It's still not clear if we'll see any customers occupy the hotel before then.

The hotel has been taking reservations for weeks already but it's funny to see a bunch of news organizations parrot the press release and announce that the spigot has been opened.

Mike Ch is back with another Strip Walk. This one covers Encore, Treasure Island, City Center, The Mirage, Palazzo and more.

Photos are here:
http://www.ratevegas.com/photo/gallery/october2008

Thanks Mike! Enjoy!

Vegas Gang #19 is online: http://www.vegasgangpodcast.com

This time around we cover:

* Plaza vs. Plaza
* Wynn Resorts Preliminary 3rd Quarter + Encore
* Harrah's + Chapter 11?
* City Center

Feel free to leave any comments below.

Wynn Resorts decided to release preliminary third quarter results today at the close of the market.

http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=1208899&highlight=

At a glance it seems that Wynn Las Vegas will either squeak by with a $2 million profit or post a small $2 million loss. This is down from $35.8 million in the year ago quarter. Part of this is pre-opening expenses but mostly it sounds like lower EBITDA.

WLV ADR is down by $10 from the year ago quarter.

Wynn Macau is expected to clock in between $57 and $63 million, way up from the $39.2 million in the year ago quarter.

They're not offering much guidance given the economy and the Macau visa restrictions.

It seems like once again the Macau property salvages the earnings. The company reported having $1.7 billion in cash.

Check out this YouTube video that combines Wynn's Encore renderings with construction photos:

http://www.youtube.com/watch?v=PGpO1Zlchis

Huge thanks to Mike E for tracking this down.

Also, this piece in the Sun on Encore:
http://www.lasvegassun.com/blogs/gaming/2008/oct/09/wynn-encore-will-take-hit-despite-position-strengt/

Wynn talks about hoping to open on December 22nd if he can get temporary occupancy before that. In the past they haven't seemed as worried about getting that occupancy certificate so why this time?

The piece also talks about opening a couple of hundred rooms per day so I guess we have confirmation of the first Wynn soft opening, at least when it comes to planning.

The LVRJ is reporting that the Wynn Las Vegas dealers that sued to remove the tip sharing program have lost their appeal:

http://www.lvrj.com/news/breaking_news/30691889.html

Two quick unrelated items:

* EatingLV.com has a tidbit about "Switch", one of the new restaurants at Encore. Supposedly it will feature an internal environment that does just that - switches mid-way through the evening.

* Looks like Cher is having some health issues that will force her to cancel shows this year, which will no doubt hurt Caesars Palace.

Interesting article in the LV Weekly talking about the economic situation and it's impact on Las Vegas nightlife - we may see a swing to a more customer hospitable Saturday night.

http://www.lvweekly.com/news/2008/oct/02/carousing-crisis-clubbing-buyers-or-sellers-market/

George (Drambuieman) is back with another great report on Macau. Some info on CotaiJet, Ponte 16 and more.

Click through to read and be sure to check out the photos:

http://www.ratevegas.com/photo/gallery/drambuieman

A big thank you and congratulations to Sean, the author of this excellent trip report featuring a stay at Wynn Las Vegas. You sir, are a class act, putting all of this together.

This is a very fun story that I can pretty much guarantee will make you smile. It even includes a special guest appearance by Steve and Elaine Wynn!

Keep reading after the jump for more...

Mike Ch is back yet again - this time with a boots on the ground report from Planet Hollywood.

Our man on the scene braved the Palace of Earl to bring back some first hand intel.

As always, photos are here:
http://www.ratevegas.com/photo/gallery/august2008

Also, he linked up some photos in his post as well. Enjoy after the jump.

As an aside, I'm well aware of how bad the photo gallery sucks. I've not had the time to do much about it but I actually think that might change in the near future. Stay tuned.

Looks like Expedia has leaked out some extra photos of the rooms at Encore, the companion resort to Wynn Las Vegas.

http://www.expedia.com/pub/agent.dll/qscr=dspv/htid=2223789 (click on 'Photos' on the left)

We get to see the entry way, bathroom and most interestingly, the sitting area. You can see in photographic detail how the 'suite' is divided - a wall with a cut-out for a TV that swivels between the two rooms.

Thanks to reader JK for the find.

Mike Ch is back with another Strip Walk.

This time he hits both ends of the Strip with Luxor, Echelon, Encore, City Center and more.

Photos are here: http://www.ratevegas.com/photo/gallery/august2008

The New York Times has a long story on Steve Wynn, Las Vegas and gaming in Sunday's paper. It doesn't break new ground for anyone familiar with Wynn or the industry, but it's interesting. The highlight for me was reading that Steve is irritated by the sound of rushing wind in the elevator shafts. The writer must not be familiar with the old DI. She makes it sound like Steve Wynn bought the homes around the property in order to build a golf course. Yes, he did, but the DI always had a golf course.
Read the story here:
The Chips Are Down in Vegas, but Steve Wynn Is Betting Big

Regular reader motoman has been kind enough to share with us a report of a recent trip. Here's Moto:

"What follows is a fairly lengthy report about a fairly mundane trip (certainly not up to Mike E standards, but then, who could top that? ;-) It's roughly chronological but each paragraph has its own subject, so feel free to follow along, skip ahead, or skip completely as you prefer, after the jump."

Despite a softening Las Vegas market, Wynn Resorts pulled through with some strong company-wide numbers.

According to the Company: "Net revenues for the second quarter of 2008 were $825.2 million, compared to $687.5 million in the second quarter of 2007. The revenue increase was driven primarily by a 50.3% increase in revenues at Wynn Macau."

http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=1179096&highlight=

I'll have to listen to the conference call later - if there's anything good in there, I'll update the post.

Update: Listening to the call now - as Jeff indicates below, classic Wynn on display in the call. Lots of fun to listen to as he takes jabs at various parties - and he has the numbers to back him.

Here's a KLAS interview with Steve Wynn covering the Encore hiring, his take on City Center, Encore itself and more...

http://www.lasvegasnow.com/global/video/popup/pop_playerLaunch.asp?vt1=v&clipFormat=flv&clipId1=2719390&at1=News&h1=WEB%20EXTRA:%20Steve%20Wynn%20on%20Hotels,%20Jobs

Thanks to Chuck at VT for pointing this out.

This week's Zoning meetings:

LVS is asking for a time extension on its approval to build a new Convention Center. The Agenda item says LVS is in the process of obtaining permits, but could the economy be a reason?
Las Vegas Sands Convention Center

Wynn has requested a deviation for Encore's signage:
Encore's Signage

The show is up:
http://www.vegasgangpodcast.com

This time we feature:

* Wynn Hires Tim and Tim / Wynn Early Financials
* Nevada and Illinois Post Bad Numbers
* Tropicana E.Coli Outbreak
* Don Barden / Pittsburgh
* MGM Mirage / Wynn Resorts Market Cap

Comments welcome below.

Don't forget the Podcast-a-palooza:
http://www.vegasgangpodcast.com/2008/07/vegas-gang-podcast-live-august-16th-vegas-podcast-a-palooza/

Just saw this fly across the wire - Wynn Resorts has announced preliminary 2nd Quarter results:

http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=1173860&highlight=

Operating income at Wynn Las Vegas is expected to be $18-22 million, down from $63.4 million last year. Wow, big drop. Looks like they are blaming it on lower hold percentages, lower ADR, and lower occupancy.

On the other end, Wynn Macau did much better than last year it seems with operating income almost doubling to $100 million or so.

The company also announced they will be buying back more shares.

A surprising bit of news this morning.

"LAS VEGAS, July 2 /PRNewswire-FirstCall/ -- Tim Poster and Tom Breitling will be joining Wynn Resorts (Nasdaq: WYNN - News) subsidiary Wynn Las Vegas as Sr. Vice Presidents of Strategy and Development."

http://biz.yahoo.com/prnews/080702/law516.html?.v=14

Vegas Gang #11 is online here: http://www.vegasgangpodcast.com

This time we feature:

* Encore at Wynn Las Vegas Opening
* Cosmopolitan Sued Over Its Name
* MGM Mirage Using Social Networking
* Harrah's Pays Debt With Debt
* Adelson Profiled in New Yorker

Feel free to add comments below...

My good friend and fellow 'Gang Member', ("yeah, I'm in a gang") Chuck has posted a bunch of new Encore construction photos:

http://www.vegastripping.com/news/news.php?news_id=2144

Enjoy!

Thanks again to George "Dram Man" Geddes for providing a trip report based around his recent trip to Macau.

The photos, previously published, are here:
http://www.ratevegas.com/photo/gallery/macaujune2008

Thanks George! Continue after the jump...

Wynn Resorts started booking rooms at Encore today, for dates from February 6th, 2009 onward. They *may* accept guests before that date but for now, you cannot confirm anything earlier.

A little bit more info on the property:

* Encore will also feature a segmented hotel tower between suites and standard 'resort' rooms. As at Wynn Las Vegas, Encore's 'Tower Suites' will have their own valet, check-in and elevators.

* Encore will feature 5 new fine dining restaurants.

* As we already know, the casino will be bathed in natural light with pool and garden views.

* Encore will feature a new nightclub.

* All suites include wireless Internet access, 42" plasma TVs, and large bathroom TVs.

* The standard Encore room will feature L shaped couches in the sitting area. The standard room size is 700 square feet.

* They are also offering Parlor and Salon suites.

As we have previously heard, while Encore is described as an all-suite hotel, the standard room offering will be a segmented single room, featuring an innovative partition system.

I thought it was interesting to hear them describe Encore as a "new signature resort from the Wynn Collection". This is clearly in their script as two different reservationists gave me that line.

Thanks to occasional contributor George "Dram Man" Geddes, we have a load of new Macau photos to share.

As usual, all the recent photos can be seen here: http://www.ratevegas.com/photo/most_recent

Thanks to George for sharing - enjoy!

I had heard from several sources that while reservations for Encore at Wynn Las Vegas open up this Wednesday, they would not be taking bookings for arrivals before February 6th, 2009 (Super Bowl weekend).

Well, this seemed a bit strange... I checked into it myself and it is true that you cannot reserve rooms before early February. I guess it's possible the first two months are for invite only players but I find this hard to believe.

I'm still told Encore's casino should open in December - what does this mean? A soft opening for Steve Wynn, the king of the hardest of hard openings who is on record disparaging the soft opening at The Venetian and Palazzo? I'm personally pretty shocked if this is the case.

I've heard some rumors as to why - leading me to believe they may have had no choice - but nothing I've been able to confirm.

This is developing... Still plenty of time for things to change.

Update: Fellow Vegas Gang Podcast contributor Jeff Simpson contacted Wynn Resorts for comment and, unlike myself, was actually able to get a response. Wynn and Co. are saying they plan to open in December as originally planned and they're just being super-extra-cautious by not allowing normal reservations until February. Maybe that's all there is to it. Wynn Resorts - I'm happy to be a 'witness' at the official opening. :-)

The latest episode is live - check out our discussions here:

http://www.vegasgangpodcast.com

Comments welcome below...

This is good news that Tableau's Mark LoRusso will definitely move to Encore, and it looks like Tableau's space will remain a restaurant instead of becoming another club.

"Steve Wynn has lured another star chef to Wynn Las Vegas. Larry Forgione, a pioneering chef from New York, will move An American Place into the Tableau space this winter, when Mark LoRusso opens a restaurant at Encore, the new luxury suite hotel at Wynn Las Vegas. "Larry Forgione was one of the first chefs to focus exclusively on American ingredients and cuisine," Wynn said. "His vision and commitment to sustainability paved the way for many of today's chefs." ..."
Norm Column in the RJ: Norm

Yes, we're back (and better than ever?).

Anyway, the episode is posted here: http://www.vegasgangpodcast.com

Comment away!

Thanks to globalcasinoboom.com for this interesting story that talks about Wynn Resorts potentially managing or consulting on a casino from Arusze in the Philippines.

http://globalcasinoboom.com/casinos/philippines-wynn-may-manage-aruzes-25-billion-manila-bay-casino/

Yes, the property formerly known as 'Wynn Diamond Suites' has been renamed 'Encore at Wynn Macau'.

Thanks to VegasTripping for the tip and also a photo of construction:

Encore at Wynn Macau
Encore at Wynn Macau Construction Photo

Yes, this is a few days old but we need a story to cover it and I was out.

LVS - Las Vegas Sands had an unexpected 1st quarter loss which has caused the stock to tumble. Slow ramp up for Palazzo in Vegas and a new weakness in Macau seems to be the culprit. Some numbers here.

WYNN - Wynn Resorts did better than expected on revenue but it looks like it missed on EPS. I am hoping to have some more time later to get deeper into these figures and listen to the call playback. http://www.thestreet.com/s/wynn-posts-mixed-quarter/newsanalysis/leisure/10414810.html?puc=googlen&cm_ven=GOOGLEN&cm_cat=FREE&cm_ite=NA

Mike_ch is back with the latest Strip Walk. This time we have a look at Encore at Wynn Las Vegas, Caesars Palace, New York New York and Luxor.

Notes after the jump, photos here:
http://www.ratevegas.com/photo/gallery/stripwalk

On the most recent episode of The Strip Podcast, Steve Wynn talks about his ultimate plans for the golf course - two new hotels for a total of 10,000 rooms (including WLV and Encore) and a 1.5 million square foot convention facility.

Clearly, this would put Wynn Resorts in direct competition with the various other convention centers in town, most specifically Las Vegas Sands and their Sands Expo. No specific timeline was given for the development.

KLAS-TV has a three part, 30+ minute interview with Steve Wynn on its website. The audio is so poor that I haven't listened to it yet. I'll need headphones, but for Wynnophiles, it might be interesting.
KLAS-TV Interview With Steven Wynn

The rumors are true! Gans will move to Encore when it opens, leaving The Mirage.

What's funny is that Wynn denied this point blank to Steve Friess in the last interview.

http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=1131831&highlight=

It may have been a whole year in the works, but it felt like only yesterday that I had booked my flight as I was sitting impatiently at the airport. This was to be my last hoorah with Vegas until Encore's opening in December. Who knows if I'll hold true to that promise, but I planned this trip to the fullest knowing all too well that these rare opportunities don't come around very often.

(More after the jump...)

Steve Friess chats up Steve Wynn for this weeks The Strip Podcast and there is no shortage of great quotes, particularly near the end when he gets into Adelson's claim that at one point he had offered Wynn a job.

I assume the show will be posted sometime Thursday. It's certainly worth a listen, along with a few bits on Encore and the Binkley book, "Winner Takes All".

We talk the concept of 'free' and casinos, lots of fresh details on Encore at Wynn Las Vegas, Majestic's Vegas numbers, and more. This is a don't miss for Wynn fans.

The participants include:

Jeff Simpson - http://www.lasvegassun.com and http://www.inbusinesslasvegas.com

David McKee - http://www.lasvegasadvisor.com/blogs/dmckee/

Dave Schwartz - http://www.dieiscast.com

Chuck Monster - http://www.vegastripping.com

Direct Download: http://media.ratevegas.com/37-VegasGang03062008.mp3

Dave Schwartz has an interesting article where the talks about a piece from Wired that is discussing the proliferation of free services in business, especially on the Internet. Dave spins that into a gaming business narrative and breaks it down for us.

http://www.dieiscast.com/2008/02/26/could-casinos-become-free

Wynn Resorts have settled on December 2008 as the unveiling for Encore Suites, the sister resort going up next to Wynn Las Vegas.

Few new details besides the opening timeframe are in the press release, though it does allude to many of the features we've already covered here in the past.

http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=1112568&highlight=

Wynn Resorts just reported their results.

http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=1107473&highlight=

That's the press release. I'll update this with some thoughts as soon as I have a chance.

The first episode of what could become a new, semi-regular podcast has been posted.

It doesn't yet have a name but the working title is 'Vegas Roundtable'. It's a gaming industry related podcast in a discussion format. Today's participants include:

Jeff Simpson - http://www.lasvegassun.com and http://www.inbusinesslasvegas.com

David McKee - http://www.lasvegasadvisor.com/blogs/dmckee/

Dave Schwartz - http://www.dieiscast.com

Chuck Monster - http://www.vegastripping.com

Thanks to all participants. The podcast is in my normal feed for 'The Worst Las Vegas Podcast' but it will probably move to a dedicated feed. Also, if anyone can think of a good name, drop them in the comments.

If you don't subscribe to the feed and want the direct URL, here it is:
http://media.ratevegas.com/35-roundtable_1-02_07_08.mp3

Some new photos posted this afternoon:

http://www.ratevegas.com/photo/gallery/encore
http://www.ratevegas.com/photo/gallery/montecarlofire

The Encore shots give a really good look at the final layouts for the big parts of the project. You can see all the skylights in the low-rise for the new spa, plus I assume that lattice roof area will be filled with glass as well. Overall, looking good - can't wait to see more.

Thanks to Brian and Mark for sharing their photos.

Regarding the podcast, I have GarageBand open now - hopefully I'll get this finished shortly.

Ok, still working on my Palazzo story but in the interim, here's some recent photos of Encore at Wynn Las Vegas.

Some nice shots showing low-rise progress. Curtains and what looked like furniture was in many of the lower floors of the high-rise.

In particular, this shot shows where the glass wall looking over the pool area will be:
http://www.ratevegas.com/photo/show/5809?gallery_id=78

And the rest of the shots:
http://www.ratevegas.com/photo/gallery/encore

Well, the gaming win in the great state of Nevada declined a good bit last time 'round:

http://www.vegastripping.com/news/news.php?news_id=1857&src=rss

Not good for our favorite multi-national casino conglomerates. It's hard not to link this to the degrading confidence in the US economy overall. Gaming is often somewhat insulated - people love to wager no matter how screwed they are - but of course there would be some kind of a hit if things go down big time in the US of A.

Well, this could be the second shot across the bow in the industry as we see a second major Las Vegas casino's dealers vote to have union representation.

http://www.lvrj.com/business/12797112.html

Following Wynn Las Vegas dealers before them, is this a reflection on management in these two organizations? Will we see dealers at an MGM Mirage property go this route?

This was in the news yesterday and I just assumed most people saw it so I didn't post it but maybe I was wrong... Anyway, Wynn Macau is set to open it's casino expansion on Monday, December 24th. This includes more tables, slots, and their new dramatic entry feature (I hope we hear more about this soon). Following in January are more retails shops including Hugo Boss and Ferrari.

http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=1088786&highlight=

Well, today is the big day for MGM Mirage with their first entry into Macau with the MGM Grand Macau. The property is a 50/50 joint venture with Pansy Ho, daughter of longtime operator Stanley Ho.

Personally, I think this property looks very interesting and it is certainly on my list of places to stay when I visit Macau sometime next year. I see the Wynn Macau/MGM Macau combo (they are right next door to each other) as the true epicenter of Macau luxury, despite Las Vegas Sands' grand Cotai experiment, at least for now.

http://money.cnn.com/news/newsfeeds/articles/prnewswire/LATU077A18122007-1.htm

Mike_ch is back with another Stripwalk. This time he visits Encore, City Center, TI, Palazzo, Luxor and more. Check it out after the jump plus don't forget to check out the new photos:

Photos: http://www.ratevegas.com/photo/gallery/stripwalk

Here we are with a special Thanksgiving-eve 'Strip Walk' segment. This time around, mike_ch checks out the Frontier, Encore, City Center, Luxor, The Mirage and more. Text after the jump...

Photos: http://www.ratevegas.com/photo/gallery/stripwalk

I've posted my Las Vegas Strip construction photos: Most Recent Las Vegas Photos

All sorts of great stuff including Encore's high and low rise buildings, WLV's villa atrium, Palazzo, the white tiger pit at The Mirage, City Center, P-Ho, Bellagio, and more.

The link above should show them all but you can also visit the November 2007 tag. Also, based on some feedback I plan to add new searching and sorting capabilities to the photo database soon.

This will start Brian Fey's day off with a smile. Wynn Las Vegas has won recognition from The Michelin Guide.
NORM: Michelin makes Steve Wynn's year
Michelin's Highest Honor of Five Red Pavilions Awarded to Wynn Las Vegas

Chuck at MacauTripping.com has posted a photo walkthrough of Wynn Macau with shots from his recent trip. A must see for Wynn fans.

http://www.macautripping.com/features/feature.php?feature_id=5&page=1

Wynn Resorts just reported as the market closed - the conference call is about to start and I'll update this with any interesting info.

Quarterly revenue was $653.4 million, up from $318.1 million last year - all because of Macau. Adjusted property EBITDA was $186 million.

Adjusted net income: $73.4 million, compared to a $1.3 million loss last year. GAAP net income was $44 million and that figure from last year was skewed by the sale of the Macau sub-concession.

Lots of interesting details in the press release: http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=1069836&highlight=

ADR at Wynn Las Vegas: $282, up from $271 a year ago. Occupancy was 96.6%.

ADR at Wynn Macau: $245 and occupancy was 91.9%.

Here's a new open topic thread for y'all. A couple of notes on this sunny Sunday:

Regarding the piece on VT&T regarding the Encore casino and a 'poker island', based on the plans I have seen and the people I have talked to, this is off the mark. Now, the plans I originally saw for the low rise stuff have substantially changed since then, as we have already discussed... My understanding is that there is no poker room planned for Encore, plus the walkway changes he talks about obliterate the retail that's planned along the WLV-Encore corridor and generally just sound like they waste space. I am very skeptical.

Second, thanks to reader MikeP for sending in a photo inside Palazzo's retail area, plus the new aquarium at The Mirage: http://www.ratevegas.com/photo/most_recent

Looks like the RJ has a front page piece on Macau gaming, specifically US based operators there. It's an interesting piece and it comes with a fairly cheesy map and some photos. Worth checking out - even some photos of the analysts that get quoted in every gaming article in the paper.

http://www.lvrj.com/news/10701326.html

Sorry I'm only getting to post this now... Looks like Macau quarterlies are once again blowing through estimates:

http://biz.yahoo.com/ap/071018/macau_gaming_revenue.html?.v=1

A 46% increase? Nice. This quarter had a little bit of Venetian Macau action but we'll really get a feel for that next time around, plus of course in the LVS and WYNN quarterlies.

Thanks to Mike for another installment of 'Strip Walk', or semi-regular feature that focuses on Las Vegas Strip construction progress.

Lots of great new info here and of course, we've got photos: http://www.ratevegas.com/photo/gallery/stripwalk

Can Le Reve be salvaged? I haven't seen it, but Wynn has been tinkering with it for two years now: Is it a first class show?
Le Reve Continues To Evolve

Liz Benston had an interesting column on Macau in the 9/30 LV Sun:
Catching up to Las Vegas

Well, you know the drill at this point. Another episode featuring MGM Grand, Wynn Las Vegas, City Center and more.

Photos are here: RateVegas Photos

This time we get a bonus video: Diablo's Cantina

"USA Today" profiles Terry Lanni:
"Throughout its history, Las Vegas has seen its share of legendary tycoons, from Howard Hughes to Steve Wynn. The low-profile Lanni flies under the public's radar, but he's one of the most-respected and influential forces in the $90 billion gaming industry.
"I've dealt with a few CEOs, and I'd have to rate Terry up there at the top," says Kirk Kerkorian, the 90-year-old owner of Tracinda, which held 56% of MGM Mirage's stock as of June. "I've always liked this company. We've got a hell of a team there."

Executive Suite: You can bet on MGM Mirage's Lanni

Well, that was a great conversation... We had an in-depth talk with Chuck from VegasTripping.com who just recently has gotten back from Macau.

We went over everything from specific hotel talk on topics like Wynn Macau, Venetian Macau, Galaxy Starworld, MGM Grand Macau, Casino Lisboa and more. We also talked about the business - folks like Wynn Resorts, Las Vegas Sands, SJM, Melco and others.

Cotai, gaming industry topics, casino design and more. It was a great discussion and I'm hoping we can do another segment soon.

Fresh back from Macau, where he chronicled his trip, Charles from VegasTripping.com will be a guest for a special Q&A version of the podcast.

We'll be doing this on TalkShoe but here's how this will work - you guys submit some questions here on the site, I'll ask them in the first 30 minutes or so. The second half of the show will be open for general discussion. We'll see how that goes.

So... TONIGHT at 6pm PT

Update: Ok, the Talkshoe link is here: http://www.talkshoe.com/talkshoe/web/talkCast.jsp?masterId=44621.

If you're planning on joining us, I strongly recommend you go to the TalkShow.com Web site ahead of time to sign up for an account and download the software. Strictly speaking, the software isn't required (only a telephone is really required) but having it gives you extra features.

If you really can't download the software, you can call in using this number: 724-444-7444 with the TalkCast ID of 44621. Without the software you might not be able to ask any questions as we won't be able to identify you in the system.

A couple of quick hits today:

Steve Wynn is the guest on this week's, The Strip Podcast. He talks about Macau, nightclubs, and more. According to Wynn, Tryst is the top netting nightclub in town and Tao is fiddling with their numbers a bit. The interview is interesting and features a fun example of Wynn's office at work. Steve's thesis on why spending is up is sort of interesting.

Second up, thanks to Detroit, this link to an article from Robin Leach - will the nightclub boom continue.

Liz Benston interviews Bobby Baldwin in the LV Sun. He answers some of the questions we asked during our recent call-in podcast.

"He typically shuns publicity but was keen to address rumors that he might be leaving MGM Mirage - perhaps to join his old boss - after a management reshuffle. Baldwin would have been a natural choice for operations chief at MGM Mirage, a job that went to finance chief and CityCenter's chief idea man Jim Murren. Baldwin says he is impressed by Wynn's growth in Las Vegas and Macau but he's satisfied and challenged at MGM Mirage, at least for now.
The poker whiz from Oklahoma will retain control of CityCenter and the two adjacent resorts, Bellagio and Monte Carlo, while becoming chief visionary in planning projects along the Strip and beyond."

Q+A: Bobby Baldwin

Our second time using Talkshoe.com and it was a lot of fun. Regular readers like Detroit1051, Mike E, Brian Fey, mike_ch and BarbaryKevin were all in on the action.

We covered a broad range of issues, from Cotai, Harrah's, Wynn Resorts, Las Vegas Sands, Palazzo, Encore, IGT and a lot more.

During the show we talked about Chuck's Macau diary. That link is here: http://www.macautripping.com

Here's the latest Strip Walk, this time hitting Wynn Las Vegas, Trump Las Vegas, New Frontier, Palazzo, Treasure Island, New York New York, Excalibur, Luxor and more...

As always, the photos are here: http://www.ratevegas.com/photo/gallery/stripwalk

Commentary after the jump... Take it away Mike!

As the Wynn Las Vegas tipping fiasco was hitting fast and furious, one Web site - CasinoDealers.net was the voice of many that felt they didn't have one. The Web site is a popular gathering spot for those in the industry and it was the home of many a hot-and-heavy discussion on the topic. Some of those discussions even spilled over here as we have some of the same contributors.

Anyway, the site is profiled in today's LVRJ:

http://www.lvrj.com/business/9686822.html

We're back with another Strip Walk! This was written almost a week ago and this time around you'll get Mike's comments but a few of my own sprinkled in - I was in Vegas for one night last week and took some of my own photos as well.

As always, the photos are here: http://www.ratevegas.com/photo/gallery/stripwalk

Commentary after the jump...

Steve Friess is an award winning Las Vegas-based journalist that regularly writes for the New York Times, USA Today and other national publications... You probably know him as the co-host of one of my favorite podcasts, The Strip. Steve's a great guy and Vegas is lucky to have him.

His new Las Vegas guidebook, 'Gay Vegas' covers Sin City with an emphasis on gay and lesbian travelers, though the tips in here are applicable to anyone visiting Southern Nevada.

Keep reading after the jump for my take on the book and if you want to pick up a copy, this Amazon link is a way to say thanks to us as well:

"Gay Vegas: A Guide To The Other Side of Sin City" (Steve Friess)

Thanks to VegasTripping.com for pointing us to this interesting interview with Steve Wynn.

He talks about their upcoming Cotai property - he wants to make it the best in the world it seems... Also, some talk on Encore (the casino will look like Macau's, which is pretty much what we all expected) and Las Vegas Sands.

Great interview: http://macaubusiness.com/index.php?id=881

Update: I thought I had a photo of the Wynn Macau casino in my gallery but I looked and couldn't find one. I know I've seen it though - I remember really liking it with the columns and drapes - much more low-key than WLV. Anyone have a link?

A fresh new discussion zone for y'all.

WYNN will release its Q2 earnings shortly, so we'll start a new topic now. In the meantime, Wynn has issed a press release announcing the opening of Blush on Labor Day weekend:
"Blush offers a unique option to the Las Vegas scene as the club seamlessly transforms from elegant lounge to high-energy nightclub."
Formerly the location of Lure, the venue will undergo a complete remodel under the direction of Wynn's Executive Vice President of Design Roger Thomas. The 4,500 square-foot club will feature a lit onyx dance floor and cr�me lantern ceiling sculpture. This central art focal piece will create various hues and images that enhance the vibe and atmosphere as the display literally comes alive nightly."

Las Vegas Nightlife Redefined with Blush

Updated: The earnings are in and they are pretty impressive. Check here.

Shortly after my solo trip last March, my friend Jeff and I started talking about what we could do to celebrate his graduation. We decided to go to Vegas (no surprise there) around his birthday to kill two birds with one stone...

(Continue reading after the jump)

As part of an invitational weekend offer I received from Wynn, 25 trivia questions were included just for fun. The questions appear after the jump. Correct answers will be given in a few days. Everyone here should know them all except for maybe the pineapple and Starbucks questions. First Prize is the satisfaction of being a Las Vegas expert.

Welcome to the first in a new series. Thanks to our friends at CotaiCasinoNews.com, we will have some regular news and updates from Las Vegas Sands' replica of the Las Vegas Strip in China.

Continue after the jump for the posting with all the latest Cotai Strip news.

Technorati Tags: casino design, gaming industry, lasvegassands, macau

Steve Wynn talked with Jeff Simpson of the LV Sun again. Wynn said the Q2 numbers are in for WLV, and that the blackjack hold percentage doubled. He credits the improvement with his change in tip policy:
"Wynn said the final numbers for the Wynn Las Vegas second quarter are in, and the blackjack hold percentage doubled from 10 percent in the second quarter of 2006 to 20 percent this year .
He credited his crew of team leaders, motivated after receiving partial shares of the tip pool, with the improvement, saying that they had obviously been able to stop some blackjack mischief - referring to the lower hold percentage that he thinks was likely caused by cheating, collusion or supervisors who didn't stop card counting.
"The change is too big to be driven by luck," Wynn said. "Statewide the hold is about 15 percent. I think I've pulled the sheet off of some problems, and when you look at the statewide number , there must be problems at a bunch of other places."

Steve should quit talking. His comments today will further alienate dealers and other casino operators.
Wynn Talks With Jeff Simpson

Last week's topic had 64 replies, so let's start a new one.

Kerkorian's initial interest in acquiring Bellagio and CityCenter certainly helped MGM during the month of June. The RJ summarizes share price changes in June for operators and slot manufacturers. MGM leads the pack.
Kerkorian's bid boosts MGM Mirage

Roger Thomas, Executive Vice President of Design for Wynn Design and Development, is among Architectural Digest's 100--a list of some of the world's most influential designers.

AD delves deep into his fascinating life and personal residence:

Also, an exclusive feature on Wynn's six Apartment (Atrium) Villas:

Be sure to view the slideshows for both articles (and what should be the fourth slide in the latter article here).

It's refreshing to read articles such as these that focus first and foremost on interior design and the specific companies Wynn D&D commissions for their custom furnishings.

The Mansion has definitely been dethroned for this level of accommodation. We can only wait and see what Palazzo, CityCenter, and Encore have in store.

Thanks to mike_ch who is back with another Las Vegas Strip development/construction update.

The photos are here: http://www.ratevegas.com/photo/gallery/mikech

Keep reading after the jump!

Technorati Tags: bellagio, casino design, condos, gaming industry, las vegas, lasvegas, lasvegassands, luxor, mandalay bay, mgm mirage, palazzo, photography, planet hollywood, project citycenter, trip report, vegas, vegas photos, venetian, wynn, wynnlasvegas

I was in town in May for a few days and I got another peak at the plans for Encore, the addition to Wynn Las Vegas currently being constructed just North of the existing tower.

I've written about this in the past but I wanted to see how things had progressed since the last set of plans. Well, not much has changed since the last round, honestly. Since at this point we've already been privy to the high-rise setup - multi-story suites, a new 'tower suites', the service configuration, the most interesting thing is probably the specifics of the casino and garden area. Unfortunately, this is an area still in flux and provided in least detail.

A couple of notes:

* The 'standard' Encore rooms have a similar configuration to those at Wynn Las Vegas, though they are larger.
* The sub-basement level includes another employee dining area, room service kitchen and other back of house facilities. Fortunately they won't have to run room service from the main WLV room service kitchens which would have had potential for cold food and bad service.
* There is additional valet parking under the new garden/casino space.
* There is a lot of cooking capacity, suggesting maybe ~6 new full size dining outlets and a handful of other smaller facilities (i.e. 6 restaurants and maybe 3-4 places like Sugar and Ice or the coffee shop).

I've also got some new documents to review, such as utilities layouts for the new building and if they shed any new light, I'll update this post.

I posted some photos previously but here they are again: http://www.ratevegas.com/photo/gallery/encore. My main camera was busted so I had to use the point and shoot. Hopefully next time I can send some photos from my new iPhone (yes, I'll be in line 6/29 - I love Apple more than I love WLV!)

Update: I have been contacted since this ran by multiple sources that indicate the 'garden' plan, as previously reported, is basically out, with the majority of that space being used for gaming and some dining. There is still some floral areas but more along the lines of what we have at WLV now, nothing grand in scope. This is of course, always developing but I've now got this from two sources, people that have proven credible in the past... We'll see!

Also, on the self-parking, we're hearing that a large portion of the new garage will be new self-park.

Technorati Tags: casino design, gaming industry, las vegas, lasvegas, wynn, wynnlasvegas

In a final vote of 444 to 149, Wynn Las Vegas dealers have voted to unionize. This is the first step in a process that will take some time to be finalized, if it does ever even move past this step.

Either way, it's a big story. We'll see what happens next.

Technorati Tags: gaming industry, las vegas, lasvegas, wynn, wynnlasvegas

In a meeting last week between Steve Wynn and his Wynn Las Vegas dealers, the Wynn Resorts chairman and CEO apologized for what he called a 'big mistake' - his changes to the casino tip policy that were enacted last September at the Las Vegas Strip resort and the resulting brouhaha.

Wynn spoke about being tired and worn out by the opening of Wynn Macau as he was making the original decision. He laments the loss of the feeling of family at the company and acknowledges that many there feel betrayed. Calling it the 'wrong solution to the right problem', Wynn then urged the dealers to vote 'No' on the election this weekend that would have their casino dealers join the union.

As we get word of the Wynn vote, we'll keep you updated. Even if the dealers vote yes in a majority, the company still would need to negotiate a contract, which the union has failed to do in the past at other resorts where elections have gone their way.

Update: We have posted the audio of the story, provided by reader Leonard Stern:
http://media.ratevegas.com/wynn_union_apology.mp3

Also, Steve Friess posted a story on this topic: http://thestrippodcast.blogspot.com/

Technorati Tags: gaming industry, las vegas, vegas, wynn, wynnlasvegas

Okay, all sorts of updates for today.

First off, some new construction photos from Brian Fey - Encore, Palazzo, etc.. - these are really coming together!
http://www.ratevegas.com/photo/gallery/brianfey - Thanks Brian!!

One photo that got special mention is this Encore shot:
http://www.ratevegas.com/photo/show/4703?gallery_id=115

People have been asking what this is.... Well, the plans I saw put the garden area right in that space - this looks to me like an advanced watering system. My guess is that these gardens are special - some kind of 'hook' or feature built into this attraction to make this more interesting than plants in the (fake) ground.

[Ed: Looks like this was even more basic than what we thought. Since we posted this I've been asking around and it sounds like this is based off the data network for the slot machines in the casino portion. Apparently the added casino space has encroached on the garden area and that explains the location... So - more casino, less garden = no story.]

[Ed (again): Looks like VT&T confirms this.]

MGM Grand wants to build another convention center adjacent to their existing facility.
http://dsnet.co.clark.nv.us/dsnetapps/agendaweb/Data/P0212157.htm

Trump Las Vegas wants to change their floor numbering. This one is funny since it shows how these numbers are totally manipulated for marketing purposes.
http://dsnet.co.clark.nv.us/dsnetapps/agendaweb/Data/P0212199.htm

Fun with parking at the Cosmo site.
http://dsnet.co.clark.nv.us/dsnetapps/agendaweb/Data/P0212232.htm

Las Vegas Sands wants to add a pedestrian bridge to the back side of the Sands Expo Center.
http://dsnet.co.clark.nv.us/dsnetapps/agendaweb/Data/P0212674.htm

Technorati Tags: casino design, gaming industry, las vegas, lasvegas, lasvegassands, palazzo, trump, wynn, wynnlasvegas

Well, if this continues, Spamalot at Wynn Las Vegas is probably in trouble.

Of course, many speculated the show might run into the same sort of trouble that 'Avenue Q.' had in the same space.

This is not good news for the show or Wynn Las Vegas, which has struggled with their entertainment offerings from day one.

Technorati Tags: gaming industry, las vegas, lasvegas, wynn, wynnlasvegas

Well, they finally got out of the red... Wynn Resorts announced Q1 2007 net income of $58.4 million, compared to a loss of $11.4 million for 2006. Adjusted net income was $72.6 million, on strong results from Wynn Macau and Wynn Las Vegas.

Revenue for the quarter was $635.3 million, up from $277.2 million from a year ago.

http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=996673&highlight=

The conference call starts in 20 minutes and I will be updating based on anything from that call.

The press release covers all of the interesting details - I will break them down shortly.

Technorati Tags: gaming industry, las vegas, lasvegas, macau, wynn, wynn macau, wynnlasvegas

A big thank you to Drambuie Man for sending in a new report and photos from Macau.

I asked for some more photos of Wynn Macau and the Venetian and we got some good coverage. I can't wait to get out there and see this stuff myself.

http://www.ratevegas.com/photo/gallery/macau

The report is after the jump...

Technorati Tags: casino design, gaming industry, lasvegassands, macau, mgm mirage, sands, wynn, wynn macau

Thanks to Brian and everyone else that submitted this to me.

Just a quick post to direct people to some new photos posted at SkyScraper City that cover all the recent construction activity in Macau. Great to see these projects moving along, especially the hotel at the Sands - Sheldy quietly hedging his Cotai bet.

Also, Drambuie Man is back in Macau and will be sharing more photos when he returns - thanks again!

An interesting tidbit in today's RJ indicates that Wynn Macau has closed it's Tryst nightclub. A sister to the popular venue in Las Vegas, Tryst Macau was smaller and had been deemed as an experiment of sorts.

Well - I guess the experiment failed as the space is being converted into private gaming.

Technorati Tags: gaming industry, macau, wynn macau

The New York Times has an interesting article that covers the upcoming growth spurt in Las Vegas. A lot of general info for a mass audience but I did think the quote from Wynn indicating that this was the 'most over the top' expansion so far was interesting.

Is this a bigger game changer than milestones like the International, MGM Grand #1, The Mirage, and then Bellagio?

Technorati Tags: bellagio, casino design, fontainebleau, gaming industry, las vegas, lasvegas, project citycenter, vegas, venetian, wynn, wynnlasvegas

From the agenda of Clark County planners, we have some insight into future projects. Here goes:

City Center - Not much, just a slight increase in the height of the towers from 543 feet to 580 feet. The FAA signed off and MGM is stating that they need the space for stuff like elevators and if residents want to put stuff on the roof (I assume satellite dishes, etc...). Also, the retail component is being increased from 650,000 square feet to 666,870 square feet. One interesting note is that Bellagio's holding company, Bellagio LLC, is the applicant - surely they have new holding companies for City Center - I would assume at least one per development for legal and financial reasons.

Wynn Las Vegas - Again, nothing major. They want to build a walkway from their Sands Ave. parking to the back of house area of the hotel, just for employees. The walkway does intersect with the monorail and the request states they will install a 'protective roof plate' to prevent falling debris hitting anyone. Ha.

Fontainebleau - Some details on the project, which is in review. The tower will be 735 feet high with 2,880 hotel rooms and 1,020 condos with kitchens. The tower sites on a low-rise podium with heights that vary from 81 feet (LVB side) to 175 feet on the convention center side on the back. Other than that, the details are few. They do have a batch plant on site at this time.

Technorati Tags: casino design, entertainment, fontainebleau, gaming industry, las vegas, lasvegas, mgm mirage, project citycenter, wynn, wynnlasvegas

We're back after a few weeks off and this time I'm joined in the studio by two friends, Carter and Kevin.

Discussion includes Harrah's buyout, Macau updates, CityCenter and more, plus some oh so witty banter and a call from Mike E.

Enjoy!

Here's the link to all the most recent photos: http://www.ratevegas.com/photo/most_recent

A reminder - feel free to call in and leave us a message about anything Las Vegas or Web site related. The call in number is: 702-508-4232.

iTunes: http://phobos.apple.com/WebObjects/MZStore.woa/wa/viewPodcast?id=197984456
Direct RSS: http://www.ratevegas.com/feed/podcast

Technorati Tags: casino design, fontainebleau, gaming industry, las vegas, lasvegas, vegas, wynn

Thanks to Drambuie_Man, we have a major set of new Macau photos that highlight the construction of the MGM Grand Macau, Venetian Macau and others. He was also kind enough to write up his report, which you will find after the jump.

The photos are located here:
http://www.ratevegas.com/photo/gallery/macau

Huge thanks go out to Drambuie_Man for taking and sharing these photos with us. He attached some notes to the photos which I have distilled and included here after the jump. I highly suggest that you give these a read along with the photos to get a better sense of context.

Here goes...

Technorati Tags: casino design, gaming industry, lasvegassands, macau, mgm grand, mgm mirage, venetian

Work got out a little early and I was on my way taking my sweet time to the airport. I had gotten a full eight hours of rest the night before and hardly any butterflies were flapping in my stomach.

Why was I not suffering the usual symptoms of pre-Vegas? Maybe because I knew it would be nearly impossible to top my last trip where I spent time in one of Wynn�s Fairway Villas with friends of nearly 20 years. What I did come to realize during this quick getaway, however, is that a solo trip where you meet others in town at your own leisure is something special in and of itself and a different kind of fun.

(More after the jump...)

I recently spent a weekend in Las Vegas. My stated purpose was a friend's wedding but I managed to get in a few other activities for the benefit of you fine people.

Here you will read about Encore at Wynn Las Vegas, Palazzo, The Mirage, Spamalot, Luxor and more.

Also, I uploaded a couple hundred new photos: http://www.ratevegas.com/photo/most_recent

Some more info after the jump...

Another construction update from mike_ch. This one covers Paris, Bill's Gamblin' Hall and Saloon, The Venetian, Encore, Palazzo, Stardust (RIP), Frontier, Bellagio, Planet Aladdin, and Luxor.

Thanks again to him for providing this stuff.

Photos are located here: http://www.ratevegas.com/photo/most_recent

Also, we've got new VIDEOS! You can watch them here (goes from most recent to older): http://www.ratevegas.com/photo/videos

I'll be in Vegas this weekend to see Spamalot, take some photos, tour the CityCenter sales pavilion and attend wedding (not in that order).

Drambuie_Man is heading to Macau and has offered to take questions in advance for those of us that haven't been or can't get to the other side of the world on a regular basis. I'm lucky to have several folks in the area that have been very generous with their time and this is another example of that.

His comments are after the jump and feel free to litter the comments with requests. Also, if you are in Macau or nearby and want to hang out, email me at editor@ratevegas.com and I'll make mutual contact.

Technorati Tags: casino design, gaming industry, las vegas, lasvegassands, macau, mgm mirage, sandsmacau, wynn macau

According to David McKee, there's some word of possible major problems at Wynn Las Vegas, from 20 boxmen being sacked to both chips and tips missing.

It's not clear if these allegations are true or accurate.

http://www.valleyblogs.com/mckee/2007-03-02/id_2130

I don't know if these things are true but it's starting to sound like things are going off the rails over there. If anyone has any inside on this, I'd love to hear about it.

Technorati Tags: gaming industry, las vegas, lasvegas, vegas, wynn, wynnlasvegas

This time around I spent most of the episode talking about Wynn Resorts, Ltd., 4th Quarter earnings report. There's also some stuff on MGM Mirage and others.

Update: For some reason that I can't explain, this episode sounds somewhat tinny. Sorry about that.

A reminder - feel free to call in and leave us a message about anything Las Vegas or Web site related. The call in number is: 702-508-4232.

iTunes: http://phobos.apple.com/WebObjects/MZStore.woa/wa/viewPodcast?id=197984456
Direct RSS: http://www.ratevegas.com/feed/podcast

Technorati Tags: boyd, gaming industry, las vegas, lasvegas, lasvegassands, macau, mgm mirage, podcast, sands, sandsmacau, vegas, venetian, wynn, wynn macau, wynnlasvegas

Wynn Resorts announced their numbers today for Q4 2006 (and FY2006).

Despite opening Wynn Macau, the supposed cash generator for the company, they had a loss for the quarter of $55 million.

What does this mean for the company if they can't make a profit with Macau open? How serious is this and what will the company do to stop the bleeding? It is important to note that a large portion of the loss was related to debenture holders.

Despite operating at a loss, some of the numbers look good, including holds and net revenues.

The extensive press release is here:
http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=967991&highlight=

Also interesting is the occupancy rate for Wynn Macau, which was just north of 80%. I watch the occupancy rates as a very interesting indicator of how the Macau market is rising to the challenge of conversion to a 'resort destination' city away from a day trip market.

Technorati Tags: gaming industry, las vegas, lasvegas, macau, wynn, wynn macau, wynnlasvegas

Thanks again to Mike_ch who is kind enough to share his updates and thoughts on what's going on down on the Las Vegas Strip.

This one covers the Stardust, Bellagio, Wynn Las Vegas and Encore, The Venetian, Palazzo, Luxor, Mandalay Bay, Monte Carlo, New York New York, Planet Aladdin, and more.

Photos are located here: http://www.ratevegas.com/photo/gallery/mikech

Keep reading after the jump for the report.

Technorati Tags: aladdin, bellagio, boyd, caesars, casino design, gaming industry, harrahs, las vegas, lasvegas, lasvegassands, luxor, mandalay bay, mgm mirage, mirage, palazzo, photography, planet hollywood, project citycenter, stardust, vegas, vegas photos, venetian, wynn, wynnlasvegas

Thanks to some friendly and reliable sources, I got a look at the play/comp requirements for Wynn Macau.

First off, I didn't realize that Wynn Macau is not extending credit - big players have to deposit front money and from what I saw, I got the impression this was for ALL players as the top levels were talking about deposits in excess of $500k USD. Does anyone know if Sands Macau gives credit?

To get comped a Sky End Suite (these are at the end of the tower - no comparable product at WLV but Encore will have them), you need to deposit $500,000 and have an average bet of $10,000. This qualifies you for a helicopter from Hong Kong as well. This suite's casino rate would be $3,000 to $3,400 a night, depending on the day of the week. This compares to a standard room with requires $25k in front money and an average bet of $650 per hand... Plus they throw in some ferry seats - no chopper for you!

It's interesting to see how things are different from Las Vegas... In Vegas, the really big players can have comps (private jet travel, etc...) extended prior to the trip - the big guys are known and the casino is confident in its ability to recoup. Not in Macau - Wynn Macau's comps start when you walk on site and not before. I guess they're still getting to know the regulars.

Technorati Tags: gaming industry, macau, sands, sandsmacau, vegas, wynn, wynn macau

'Le Reve' is the Franco Dragone show that opened Wynn Las Vegas. It stumbled a bit out of the gate but seems to have found its footing as tickets are now selling at a normal pace.

Wynn Resorts purchased the remaining 'Le Reve' assets from Dragone last year with the intent of making some changes. Today they announced the theater itself is being remade a bit.

In a press release on their Web site, Wynn Resorts detail some of the changes, including warmer colors.

The show will be dark in March while these changes are implemented.

http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=965782&highlight=

Technorati Tags: casino design, entertainment, las vegas, wynn, wynnlasvegas

Wynn Las Vegas will add four new villas to the South side of the hotel, near the existing atrium villas on the pool side of the building.

Two of the villas have four bedrooms and the other two have three. All have media rooms, massage areas, spas and outdoor space with gardens and pools. They will be very similar to the existing atrium villas.

Adding these villas will require some of the landscaping in the South Tower area to be removed and reconfigured. Plans show another entrance from the street level as well.

Technorati Tags: casino design, las vegas, wynn, wynnlasvegas

I can't tell if this post is just him mis-reading the WynnDealers.com Web site or if he is reporting a new turn of events.

The Poker Prof is saying that the dealers at Wynn Las Vegas have voted to unionize.

http://www.lasvegasvegas.com/pokerblog/archives/004120.php

Technorati Tags: gaming industry, las vegas, wynn, wynnlasvegas

I just got word from my friends Steve and Miles over at The Strip Podcast that their upcoming Thursday night episode will feature some new words from Steve Wynn and based on what Steve told me in a follow-up email, we're going to hear a few things that we've never heard before.

Also, The Strip has announced their first (I think so, right?) live event. This coming Sunday, January 28th, they will be co-hosting a live discussion at the Ghostbar at the Palms. The discussion features the top celebrity journalists, Perez Hilton, Robin Leach, Norm Clarke and Carlos Dias from ExtraTV. More details are available at http://www.partyatthepalmswithperez.com. There's a $10 cover and the show gets going at 8pm so make sure to get there with plenty of time to get in and upstairs. If you've never been to the Ghostbar, this is a good time to check it out, when it's not full of drunken fools all competing to fall off the balcony. The proceeds from the event go to the NLGJA.

So, some hot activity on The Strip Podcast this week. The show is recorded on Thursdays at 7pm and you can participate in a live chat while they do the show. I'm planning on joining in this week - looking forward to it. The chat room is located at: LVRocks.com and there should also be links from the Strip Podcast site. See you on Thursday!

Update: A little preview of tonight's Steve Wynn/Spamalot stuff is here.

Updated Thursday: This episode is now available. Wynn talks a bit about the golf course, indicating the zoning was more to do with the way the mortgage is collateralized than anything else but the course will indeed be re-developed in a few years. He also said that he will never do a dense development like City Center, citing his lower cost of land as one reason he doesn't need to. I recommend you listen to the podcast.

Technorati Tags: las vegas, palms, podcast, vegas, wynn, wynnlasvegas

This is a WSJ article so it requires a subscription or you'll have to find some other way to read it but it's recommended - interesting stuff.

Casinos Divide to Conquer

Basically the concept is that operators could sell their real estate holdings and then sign long term management deals with the new owners of the real estate. This lets them monetize these assets and many of these companies like Harrah's or MGM MIRAGE are sitting on billions in real estate.

From the article by Peter Sanders:

"Blackjack players who are dealt a pair of aces often "split" the cards into separate hands, giving them two shots at hitting the jackpot. Now, some casino companies are considering a split of their own: effectively dividing their real-estate assets from the operating companies that run the casinos."

Technorati Tags: gaming industry, las vegas, lasvegas, lasvegassands, mgm mirage, vegas, wynn

We've discussed this in other threads but I thought it would be worthwhile to extract it out and focus the attention on 'The Vegas'.

The LV Biz Press has a blog entry on Wynn Resorts' activity in combining the parcels that make up the golf course into a set of properly zoned properties.

Is the golf course going to be re-developed sooner rather than later?

http://www.valleyblogs.com/mckee/2007-01-19/id_2011

Update: In a recent interview on the Strip Podcast, Steve Wynn explains that this move was partially done due to the golf course being released from the mortgage collateral for the hotel.

Technorati Tags: casino design, gaming industry, las vegas, vegas

The Smoking Gun, obtainers of mug shots the world over, has posted the legal documents that make up the Wynn vs. Lloyds of London lawsuit regarding paying lost value in the Picasso masterpiece, 'Le Reve'. Wynn asserts that he is owed the difference between a never-consumated sale price and the newly appraised value given that the painting has been restored.

This is a good spot for ongoing discussion on 'Le Reve' and the various damage issues.

http://www.thesmokinggun.com/archive/years/2007/0111072wynn10.html

Technorati Tags: gaming industry, las vegas, wynn, wynnlasvegas

This Wynn Las Vegas press release was issued today to remind people that the popular Broadway musical 'Spamalot' is opening in March in the theater that was formerly home to 'Avenue Q'.

The previews start early March with the actual opening on March 31st. This version of the production will feature John O'Hurly, known for his recurring role on 'Seinfeld' as J. Peterman.

While they were once heralded as bringing in a new wave of entertainment to Las Vegas, shows such as 'Avenue Q', 'Hairspray', and 'We Will Rock You' all faltered. At the same time, 'Mamma Mia' has had a very successful run that is scheduled to end in 2008 and the version of 'Phantom' at The Venetian has seen some success. 'The Producers', another Broadway hit, opens in February at Paris Las Vegas.

I haven't seen 'Spamalot' but I've heard the show is 'wacky' and might be a good fit for Vegas audiences. These shows always suffer from having to be cut down to a running length no longer than 90 minutes, as well as the language barrier with foreign visitors that doesn't exist at non-verbal shows, like those from Cirque du Soleil.

I personally hope that this show works. I really liked 'Avenue Q' and was sad to see it go. I usually really enjoy myself when we spend a night on Broadway in NYC, though I rarely catch touring shows when they come to LA.

Wynn Las Vegas Press Release on 'Spamalot' Coming to Las Vegas

Technorati Tags: cirque du soleil, entertainment, gaming industry, las vegas, vegas, wynn, wynnlasvegas

What did you think was the most interesting/biggest story of 2006 that related to Las Vegas and/or casino gambling?

Was it Harrah's being taken private? Wynn Resorts opening in Macau? The Stardust going dark? The insanity around the Tropicana bidding war? I'm interested to hear your take.

The RJ has a story on that topic today with a few examples but we don't have to limit the discussion to those options.

http://www.reviewjournal.com/lvrj_home/2006/Dec-31-Sun-2006/business/11367452.html

And, for a little bit of history, these are the posts from December 2005. Funny to think of all that has happened this year.

http://www.ratevegas.com/blog/2005/12/

Technorati Tags: boyd, gaming industry, las vegas, lasvegassands, macau, mgm mirage, stardust, vegas, venetian, wynn, wynn macau

Thanks to my friend Chris in Hong Kong, we have a few new shots of development progress for several Macau projects.

Specifically:

Wynn Macau / MGM Grand Macau
Venetian Macau
Grand Lisboa

Thanks Chris! Looks like some of these projects are really coming together and by this time next year, all of the above should be operating (and hopefully I will have reported my personal experience in at least a few of them!)

Happy New Year to all. Another great year of growth on this blog and I hope that 2007 will be even bigger.

Technorati Tags: casino design, gaming industry, lasvegassands, macau, mgm grand, mgm mirage, photography, venetian, wynn, wynn macau

I just came back from another trip in a Wynn Fairway Villa. It was an amazing experience--far better than the first time I stayed in the villas. I've even thrown in some photos and videos of the trips events.

(More after the jump.)

I'm finally back with another podcast! This time around I'm talking about my recent trip to Bellagio (which includes meeting up with several readers/listeners and author Dave Schwartz) as well as the big news of the day - Harrah's going private! On top of that I catch up with a few news stories from the last two weeks. Enjoy!!

Here is the link to the photos mentioned in the podcast: http://www.ratevegas.com/photo/most_recent

A reminder - feel free to call in and leave us a message about anything Las Vegas or Web site related. The call in number is: 702-508-4232.

iTunes: http://phobos.apple.com/WebObjects/MZStore.woa/wa/viewPodcast?id=197984456
Direct RSS: http://www.ratevegas.com/feed/podcast

Technorati Tags: bellagio, boyd, caesars, casino design, gaming industry, harrahs, las vegas, mgm mirage, photography, podcast, project citycenter, ratevegas.com, station, the beatles, vegas photos, wynn, wynnlasvegas

This is actually about a day old but due to some computer issues, I wasn't able to do much posting yesterday.

From the LV Biz Press, in the continuing saga of the Wynn Las Vegas tipping situation, a court dismissed the legal challenge, though the dealers still have several other potential remedies.

http://www.lvbusinesspress.com/articles/2006/12/06/news/news_update/doc457715303fd90612921331.txt

Technorati Tags: gaming industry, las vegas, vegas, wynn, wynnlasvegas

Thanks to reader George, we have an interesting report and photos from a recent trip to Macau. The report is after the jump.

A couple of comments on the report:

* The Sands Macau actually does have a small hotel at the moment and they are planning to expand it to over a hundred rooms in the next few years.

* While the jury is very much still out on Wynn Macau, looking only at the cash volume through that place in the first days we have reported, a lot of money is moving around in that place. Assuming that keeps up and the basic math works, they have potential to make money... Potential.

* Wynn's Tryst - I was under the impression that it was open based on photos from the club and a few reports. Given this report, I'm now not clear as to its status.

* Craps - Too bad no games in Macau. People seem to generally consider it a dying game. Personally, it is by far my favorite. I have seem quotes from Wynn that imply that he believes the same is one of the last generation. Hopefully it is not dying off.

Overall I found the specific comparisons useful for folks like me who are used to Las Vegas/US casinos and who plan to visit Macau sometime in the near future.

I am working on posting the photos that were sent with this story. They will be up soon...

Technorati Tags: lasvegassands, macau, photography, sandsmacau, sands, venetian, wynn, wynn macau

It's a slow news today on this Sunday but one interesting tidbit about Lure, the ultra-lounge at Wynn Las Vegas.

Lure has never been a great performer, despite the room being very pretty with a cool outdoor area. Sounds like it will get a facelift and a new name, along with a new marketing campaign early next year:

http://www.lasvegassun.com/sunbin/stories/consumer/2006/dec/03/566640586.html

Thanks to John for submitting this.

Technorati Tags: casino design, las vegas, lasvegas, vegas, wynn, wynnlasvegas

I checked out of a Bellagio Suite in the main tower this morning and have just unpacked in a Wynn Parlor Suite. I tried to start a report early this morning, but Bellagio's internet service was down all night and still wasn't up at 9 AM. I'll offer a few opinions now and then add comments later. After all, I want to enjoy Wynn.

This will not be a trip report, but random thoughts start after the jump.

Thanks to reader mike_ch who sent in the trip report from Wynn Las Vegas that you will find after the jump.

The photos that go with this report are now online:
http://www.ratevegas.com/photo/gallery/mikech

Technorati Tags: gaming industry, las vegas, wynn, wynnlasvegas

Roll The Bones is a new book by Dr. David Schwartz, the director of the Center for Gambling Studies at UNLV. His blog, DieIsCast.com is a great source for gambling information and news along with the ever-popular casino carpet gallery.

Dave has written several gambling related books in the past, including Suburban Xanadu, a study of the casino resort's evolution (this book features an in-depth look at Martin Stern, Jr., who's work we have mentioned several times in the past here on this site) and Cutting The Wire, a look at the Wire Act and Internet gambling.

You can buy this book here (and it supports this site in a small way): Roll the Bones: The History of Gambling

Keep reading after the jump...

Technorati Tags: atlantic city, boyd, caesars, casino design, gaming industry, harrahs, hilton, las vegas, lasvegassands, macau, mgm mirage, project citycenter, ratevegas.com, vegas, wynn

This podcast includes some audio clips from my recent trip to Las Vegas. I talk about construction on Encore, CityCenter, Palazzo, Aladdin and more. Also, some special guests including Tim and Michelle from Five Hundy By Midnight and loyal contributor Mike E. We listen to a few messages from listeners (thanks for the theme song!) and even find some time to talk Vegas news.

Here is the link to the photos mentioned in the podcast: http://www.ratevegas.com/photo/most_recent

A reminder - feel free to call in and leave us a message about anything Las Vegas or Web site related. The call in number is: 702-508-4232.

iTunes: http://phobos.apple.com/WebObjects/MZStore.woa/wa/viewPodcast?id=197984456
Odeo: http://odeo.com/claim/feed/e9ba87a56391268b
Direct RSS: http://www.ratevegas.com/feed/podcast

Technorati Tags: bellagio, casino design, gaming industry, las vegas, lasvegas, lasvegassands, mgm mirage, mirage, palazzo, photography, planet hollywood, podcast, project citycenter, ratevegas.com, vegas, vegas photos, venetian, wynn, wynnlasvegas

I spent some time in Las Vegas this weekend (actually, a little more time than I had planned) and I wanted to report on my trip.

First off, I have posted construction photos of Encore, City Center, Bellagio renovations, Aladdin/Planet Hollywood, The Mirage (Japonais and Revolution), The Palazzo, and the pit that will become the Cosmopolitan.

I got to meet with a few readers/listeners, fellow podcasters and friends. I had a short chat with Elaine Wynn who is a real class act.

The photos are posted at this link, plus they are also in their respective categories:
http://www.ratevegas.com/photo/most_recent

More after the jump...

Technorati Tags: bellagio, caesars, casino design, gaming industry, las vegas, lasvegas, mgm mirage, mirage, palazzo, palms, photography, planet hollywood, project citycenter, treasure island, trip report, vegas, vegas photos, venetian, wynn, wynnlasvegas

Another update from Mike on the construction situation. No photos this time but still some good info on Mandalay, Luxor, Excalibur, MGM Grand, Wynn and Stardust.

Keep reading after the jump for the details.

Technorati Tags: casino design, gaming industry, las vegas, lasvegassands, mandalay bay, mgm grand, mgm mirage, palazzo, treasure island, wynn, wynnlasvegas

Huh? This one is strange. Two announcements today... First off, from the press release it sounds to me that Binion didn't care for the day-to-day in Macau... Maybe he didn't like living there or something? Certainly sounds like spin to me and hopefully the dividend isn't a smokescreen to that effect.

You can read both releases here:

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

Technorati Tags: gaming industry, macau, wynn, wynn macau

This time around we spend most of the podcast talking about Las Vegas nightclubs, specifically which ones are popular right now, what it takes to get in, all about 'bottle service' and other useful info for those folks that are interested in the clubs but maybe haven't yet taken the plunge.

I was lucky enough to get Mike E. on the show to fill in the holes in my knowledge - while I have visited a few of these places, they really aren't 100% my thing. Mike did great and I wanted to thank him again for helping out.

Ok, I hope you guys enjoy the podcast, this one is another long one at just about one hour.

A reminder - feel free to call in and leave us a message about anything Las Vegas or Web site related. The call in number is: 702-508-4232.

iTunes: http://phobos.apple.com/WebObjects/MZStore.woa/wa/viewPodcast?id=197984456
Odeo: http://odeo.com/claim/feed/e9ba87a56391268b
Direct RSS: http://www.ratevegas.com/feed/podcast

Technorati Tags: bellagio, casino design, condos, gaming industry, las vegas, lasvegas, lasvegassands, macau, mgm mirage, podcast, ratevegas.com, venetian, wynn, wynn macau, wynnlasvegas

This was mentioned in the comments but this is a big deal so I'm doing a full story.

There are no other Mobil 5-Star hotels in Las Vegas and only two restaurants (Alex and Robuchon).

Since this is sure to be controversial with our readers, let the arguing begin! It should be noted that there were several 4-star ratings, including Bellagio, the remainder of Wynn Las Vegas, the Four Seasons, The Venetian, and the Ritz Carlton at Lake Las Vegas.

The R-J Chimes In:
http://www.reviewjournal.com/lvrj_home/2006/Nov-10-Fri-2006/business/10738607.html

The Sun's Take:

http://www.lasvegassun.com/sunbin/stories/nevada/2006/nov/09/110910389.html

Technorati Tags: bellagio, casino design, gaming industry, las vegas, lasvegassands, mgm mirage, venetian, wynn, wynnlasvegas

Wynn Resorts Ltd. reported their third quarter 2006 results today. This was an important quarter for the company as it included the first, albeit small, amount of operations from their second property, Wynn Macau. Also, a large one-time gain from the sale of a Macau sub-concession to PBL put a nice bit of cash into their pockets.

Net revenues for the quarter were $318.1 million. This is up 26.5% from the same quarter in the prior year. Net income for the quarter was $715.7 million but most of that is the one-time event related to the sub-concession.

The net loss has been reduced from $2.2 million last quarter to $1.3 million this quarter. EBITDA was $79.6 million, up 8.7%. I don't have the analysts jive in front of me but I think this is pretty close to what they were predicting.

Wynn Macau, operating for 25 days this quarter, generated net revenues of $45 million and EBITDA of $2.3 million, 81% of which came from table game play. ADR at Wynn Macau was 75.9% and non casino revenues were $4.9 million.

The conference call at 3pm will be on the Web site and we'll be talking in the chat room, which is located here.

For a breakdown of Wynn's results:
http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=928196&highlight=

Technorati Tags: gaming industry, las vegas, lasvegas, lasvegassands, vegas, wynn, wynn macau, wynnlasvegas

Excerpt from 11/7 Wall Street Journal:
"Meanwhile, a flurry of other merger and buyout activity also drove trading in the options market. The call options of luxury casino operator Wynn Resorts Ltd. traded heavily before its earnings results and in the wake of a $3.7 billion management-led buyout offer."

Conference Call announcement describes the call as "Limited." What does that mean?
http://biz.yahoo.com/cc/4/75124.html

Thanks to mike_ch for another set of construction updates from the field!

This time around we get info on Encore, Aladdin/Planet Hollywood, Palazzo, Bellagio, MGM Grand, The Mirage, Treasure Island and the last day of the Stardust!

Thanks again to Mike for providing this stuff.

The photos are up in their respective categories but to see all recent photos:

http://www.ratevegas.com/photo/most_recent

Regarding his question below about The Mirage, they have partnered with the Los Angeles Lakers to be their official Las Vegas hotel. Oh, and by the way Mike, that picture of Bellagio's front desk office - I've always thought that was a great space. Nice shot.

Okay, Mike's update is after the jump.

Technorati Tags: aladdin, bellagio, boyd, casino design, echelon, gaming industry, las vegas, mgm grand, mgm mirage, mirage, palazzo, photography, planet hollywood, stardust, treasure island, vegas, vegas photos, venetian, wynn, wynnlasvegas

AAA announced its Five-Diamond awards for Nevada. I'm sure there will be differing reactions here to the addition of the 5th hotel to the list!

2007 FIVE-DIAMOND LODGINGS IN NEVADA
1. The Ritz-Carlton at Lake Las Vegas, Henderson (fourth year)
2. Bellagio, Las Vegas (sixth year)
3. Four Seasons Hotel, Las Vegas (eighth year)
4. Skylofts at the MGM Grand (first year)
5. Wynn Las Vegas, Las Vegas (first year)
2007 FIVE-DIAMOND RESTAURANTS IN NEVADA
1. Alex, Wynn Las Vegas (second year)
2. Jo�l Robuchon at The Mansion, MGM Grand (first year)
3. Le Cirque, Bellagio (fourth year)
4. Picasso, Bellagio (sixth year)
AAA Five-Diamond Awards for 2007

Hey, we're back with the latest episode of the Worst Las Vegas Podcast - #7.

702-508-4232

We talk about the following topics:

* Atlantic City / Trump + Wynn - We talk about what kind of impact a Trump+Wynn partnership might have on Atlantic City and what might possible.

* Construction Update - Thanks to 'mike_ch' for filling us in. This report covers spots like Bellagio's casino upgrades, Palazzo, Wynn's Encore and more. We talk about the article on the blog that is available here:
http://www.ratevegas.com/blog/2006/10/las_vegas_const.html

* What's Changed Since 2004 & Poker in Las Vegas - We talk about what it's like if you haven't visited in a couple of years plus what it is like if you have never sat down at a poker table in Las Vegas, just coming from an online poker environment.

This was a lot of fun to put together and if you're considering playing poker in Vegas, I think this is a must-listen for you. Thanks again to Phil for participating.

iTunes: http://phobos.apple.com/WebObjects/MZStore.woa/wa/viewPodcast?id=197984456
Odeo: http://odeo.com/claim/feed/e9ba87a56391268b
Direct RSS: http://www.ratevegas.com/feed/podcast

Technorati Tags: atlantic city, bellagio, borgata, casino design, cirque du soleil, entertainment, gaming industry, las vegas, palazzo, palms, podcast, poker, ratevegas.com

You guys have probably seen Mike's construction updates in the past. Well, we're turning them into a front page story as they are available... Thanks to Mike from all of us for providing this info and taking time out of his day to do this.

The body is after the jump but he's covering the following:

Wynn Las Vegas and Encore
Venetian
Bellagio
Excalibur

Photos are linked and are posted to the RateVegas.com galleries. The most recent RV photos can always be found here:

http://www.ratevegas.com/photo/most_recent

Technorati Tags: bellagio, caesars, casino design, gaming industry, las vegas, palazzo, venetian, wynnlasvegas

Is Steve Wynn coming back to Atlantic City and is he working with former arch-rival Donald Trump to make it happen?

This has been reported a few places today (including via our listener line - thanks Brian)!

The rumor is that Steve Wynn and Donald Trump are considering some kind of deal to bring Wynn back to AC on the site of Trump Plaza. That could mean a joint venture, Wynn Resorts purchasing the land outright, or nothing at all.

Nothing concrete on this topic but let's open it up for discussion. Thoughts?

Updated: This is gaining more ground: http://pressofatlanticcity.com/news/story/6878196p-6743121c.html

Technorati Tags: atlantic city, casino design, gaming industry, trump, wynn

Third Quarter earnings are coming out. The RJ gave a preview:
Big Six Earnings Preview

For conference call junkies, a schedule follows the jump.

I got my review copy of Dave Schwartz's new book, "Roll The Bones" today and I've started to read it. Dave is a friend of mine and I feel lucky to call him that. He's the number one gambling historian and author of several books. He works at UNLV as the Director of the Center for Gaming Research. His Web site is located here, which we are now proudly hosting for him: http://www.dieiscast.com

A full review will follow when I'm done but so far, it's great. Anyone that's seriously interested in gambling should buy this book right now.

The link below is from Amazon.com and not only do you get the book for a great price, but we get a small cut of the proceeds, so you are supporting the site and getting what so far seems like a great book.

Ok, here goes: Roll the Bones: The History of Gambling

Enjoy.

Technorati Tags: atlantic city, aztar, bellagio, borgata, boyd, broadway, caesars, casino design, cirque du soleil, fremont, gaming industry, golden nugget, hard rock, harrahs, hilton, hooters, las vegas, luxor, macau, mandalay bay, mgm grand, mgm mirage, mirage, monorail, palazzo, palms, planet hollywood, playboy, project citycenter, red rock, riviera, sahara, southcoast, stardust, station, table games, treasure island, tropicana, vegas, venetian, wynn, wynn macau, wynnlasvegas

This is a shorter podcast this time around.

I play a couple of listener calls and talk about Macau, specifically the relationship between the Cotai Strip and the Peninsula and how that will impact operations for Wynn Resorts and Las Vegas Sands.

Call our listener line, anytime: 702-508-4232

You can leave a message that we will read on the air. Grab the number and put it in your cell phone so you can even phone in from Vegas. Also, if you are a casino employee or otherwise have info, you can use this as an anonymous tip line to feed us the goods.

Ready to listen? If you subscribed in iTunes or another player, it's probably already downloading as it's been on the feed for awhile. If you don't use iTunes or aren't already subscribed, the links are below. If you want to listen right here on the site, click through after the jump where we have an embedded player, no download required.

iTunes: http://phobos.apple.com/WebObjects/MZStore.woa/wa/viewPodcast?id=197984456
Odeo: http://odeo.com/claim/feed/e9ba87a56391268b
Direct RSS: http://www.ratevegas.com/feed/podcast

Technorati Tags: macau, podcast, venetian, wynn, wynn macau

The latest edition of The Strip Podcast features bits of an interview with Steve Wynn mostly related to Macau and the opening of his first venture there last month. If you haven't listened, it's an interesting companion bit to the Sheldon Adelson piece from a few weeks back.

From the interview and others like it, we know that Steve Wynn believes that while development on the so-called 'Cotai Strip' will at some point down the road bear fruit, he thinks that time is 5-7 years off when the area is more built out. Wynn Resorts purchased land on the Cotai Strip and plans to develop up to three hotels there. Wynn's been clear that he thinks Cotai will be great, just not in the next couple of years.

Adelson's position is a bit different. He's currently constructing the first Cotai property, the Venetian Macau. When it opens in 2007, it will at first sit all by itself out there, though it is designed to be a fully integrated resort and will offer a wide array of facilities, much as the Venetian in Las Vegas does today.

I'm not asking if Cotai is a good idea or not - everyone agrees that Cotai is likely the long-term future of Macau. What I'm asking is if this is the right time or if Cotai will have a slow start until more of the planned hotels are on-line...

Will Adelson have to wait until 2010 or 2012 to reap the benefits and is Las Vegas Sands making a mistake to not massively expand the Sands hotel component along with these other projects?

Technorati Tags: casino design, gaming industry, macau, venetian, wynn, wynn macau

Ordinarily I wouldn't post this kind of inane story but it's so funny and strange. Thanks to VegasTripping.com for pointing it out.

Looks like Steve Wynn accidentally put his elbow through his Picasso, Le Reve.

Ouch!

http://www.newyorker.com/talk/content/articles/061023ta_talk_paumgarten

Update: Looks like he is getting the painting repaired: http://www.reviewjournal.com/lvrj_home/2006/Nov-11-Sat-2006/news/10766344.html

Technorati Tags: wynn, wynnlasvegas

First up, I tracked down this image that is a rendering of CityCenter - looks more recent than most:

City Center Rendering - Oct. 2006

On an unrelated topic, the LA Times ran a story on Macau that is interesting, though not a lot of new ground:
http://www.latimes.com/travel/la-tr-macao8oct08,0,319698,full.story?coll=la-home-travel

Technorati Tags: casino design, gaming industry, las vegas, macau, mgm mirage, project citycenter, wynn macau

Yes, that's two podcasts in a week... I have posted the fourth RateVegas podcast and this episode has an international bent.

I discuss the basics of Macau along with the info about Wynn Macau opening in early September. I also talk about Harrah's pulling out of competition for the second casino site in Singapore as well as our potential nomination for a "Trippie" award.

On top of all of that, we now have a listener line where you guys can call in to get a message read on the air. The number is: 702-508-4232. Go ahead and call us anytime, from the field in Las Vegas or otherwise.

To listen to the podcast, we have a few options:

iTunes: http://phobos.apple.com/WebObjects/MZStore.woa/wa/viewPodcast?id=197984456
Odeo: http://odeo.com/claim/feed/e9ba87a56391268b
Direct RSS: http://www.ratevegas.com/feed/podcast

Click on after the jump to listen to the podcast right here on the Web site.

Technorati Tags: casino design, gaming industry, las vegas, macau, podcast, ratevegas.com, slots, table games, vegas, venetian, wynn, wynn macau

This was on VT yesterday and I should have posted it then but hey, I was busy.

Anyway, this story out of New Jersey indicates that Wynn Resorts might make a play to build a hotel there. I see this as very possible - along with Mississippi and Nevada, New Jersey is the only gaming jurisdiction in America with any sensible tax and regulatory setup.

http://www.nj.com/news/ledger/index.ssf?/base/news-9/1159249454224510.xml&coll=1

Technorati Tags: atlantic city, wynn

Our friend Steve Friess from The Strip podcast also has a podcast related to pets, The Petcast.

When he was in China he spoke with Steve Wynn a bit about his dogs, who had come along.

Kinda funny on a slow news day. It's near the start of the podcast:

http://m.podshow.com/media/771/episodes/26911/thepetcast-26911-09-19-2006.mp3

Technorati Tags: podcast, wynn

Steve Friess of popular Las Vegas podcast, The Strip, had published his interview with Las Vegas Sands chairman Sheldon Adelson. Adelson discusses Macau in detail and comments on the Venetian Macau and even Wynn Macau.

The rivalry between Steve Wynn and Sheldon Adelson continues to blossom and has almost reached the level of high comedy. At a certain point you have to wonder if they don't, in a way, see the rivalry as good for business, as a way to get people interested in their properties.

Anyway, it's a very interesting podcast that also includes a Wynn snippet on the tip changes at Wynn Las Vegas.

Technorati Tags: macau, venetian, wynn macau

Two things this morning:

Today in the RJ, Norm! speculates that Harrah's may be changing its corporate name to Caesars and the long rumors Bally's/Horseshoe switch may be in the works:

http://www.reviewjournal.com/lvrj_home/2006/Sep-11-Mon-2006/news/9560733.html

Also, thanks to a reader for the following video of the opening of Wynn Macau:

http://www.ratevegas.com/extras/wynn_macau_video.wmv

Technorati Tags: gaming industry, harrahs, las vegas, macau, wynn macau

Thanks go out to Chris in Hong Kong for sending his photos of the Wynn Macau opening and shedding a little light on the layout of the place, as no property map is currently available.

First off, some additional interior photos:
http://photos.ratevegas.com/photo/gallery/wynnmacau

More today from the Las Vegas media:

LV Sun - http://www.lasvegassun.com/sunbin/stories/sun/2006/sep/06/566653781.html
Review Journal - http://www.reviewjournal.com/lvrj_home/2006/Sep-06-Wed-2006/business/9471086.html

Keep reading after the jump.

Technorati Tags: casino design, gaming industry, macau, wynn macau, vegas photos, wynn

With Wynn Macau opening today/tomorrow (time zones and all that), there's a flurry of activity discussing the event.

Thanks to Brian for submitting some of these.

http://www.forbes.com/feeds/ap/2006/09/05/ap2992401.html?partner=alerts

http://www.forbes.com/feeds/ap/2006/09/04/ap2991723.html?partner=alerts

http://www.gamingtoday.com/index.cfm?articleid=16589&AIN=696738

And of course, Sheldon Adelson can't resist calling Wynn's Macau resort a 'joke and a half':
http://www.marketwatch.com/News/Story/Story.aspx?guid=%7b596EC9E2-D651-4616-AA33-23D0D14D54F0%7d&siteid=mktw&dist=nbs

UPDATE: Brian wrote in with some GREAT photos: http://www.whatbrianthinksaboutlasvegas.com/forum/viewtopic.php?t=2177

Technorati Tags: macau, wynn

Thanks to reader John Hall for contributing another piece, this time the focus on Bellagio and Wynn Las Vegas. I can't say how much I appreciate contributions from you guys, the loyal readers. If you want to send something in, send it to: editor@ratevegas.com

Ok, what do we have here? Well, as regular readers know, we have spent an awful lot of time looking at Steve Wynn properties, and Wynn Las Vegas over all of them. Well, before there was WLV there was Bellagio and it is still a literal cash factory on the Strip. After touring the back of house facilities, I have a renewed appreciation for the property - it's really a work of art in its own way.

Technorati Tags: bellagio, casino design, gaming industry, las vegas, mgm mirage, vegas, wynn, wynnlasvegas

Thanks to reader John for pointing out that Steve Friess, of popular Las Vegas podcast, The Strip, has posted some photos of Wynn Macau, opening next week.

Also, an article on Steve's trip:

http://www.nvtoday.com/index.php?option=com_content&task=view&id=93&Itemid=33

Photos: http://www.stevefriess.com/gallery/onmacau/index.htm

Technorati Tags: casino design, gaming industry, macau, wynn

Steve Friess has written an article in the current Newsweek magazine about Steve Wynn and Macau.

To read the article:

A Vegas-Size Bet On China

Starting September 1st, dealers at Wynn Las Vegas will be sharing their tips with pit bosses. This is a dramatic shift for a Strip resort to make - typically pit bosses are salaried and make far less than dealers, a bit of an oddity in the business world where supervisors usually make more than subordinates.

Apparently the dealers are less than pleased and I'm not surprised. Still, I think that this has a good shot at become the new Strip standard. The disparity was growing and a lot of dealers turned down promotions for this reason. This evens it out a bit. I'm sure they'll lose some dealers over this but I doubt any customers will notice.

Thanks to KLAS for the story: http://www.klastv.com/global/story.asp?s=5316119

Technorati Tags: gaming industry, las vegas, vegas, wynn, wynnlasvegas

Thanks to reader Motoman, we have some new Vegas photos from I believe July 2006. Enjoy:

http://photos.ratevegas.com/photo/gallery/wynnlasvegas
http://photos.ratevegas.com/photo/gallery/encore
http://photos.ratevegas.com/photo/gallery/palazzo
http://photos.ratevegas.com/photo/gallery/trump

Technorati Tags: casino design, gaming industry, las vegas, photography, palazzo, trump, vegas, vegas photos, wynn, wynnlasvegas

This article, submitted by motoman (thanks!), details the concrete and foundation procedures for constructing Wynn Las Vegas (then called Le Reve) and THEHotel at Mandalay Bay. It makes for an interesting comparison of techniques for sure.

http://www.findarticles.com/p/articles/mi_m0NSX/is_1_48/ai_97298256

Technorati Tags: casino design, las vegas, mandalay bay, vegas, wynn, wynnlasvegas

Wynn Resorts posted their second quarter numbers today.

From the AP:

"The company posted a quarterly loss of $20.1 million, or 20 cents per share, compared with a loss of $41.8 million, or 43 cents per share, during the same period a year ago."

Reaction seems mixed but shares are rising in after hours trading.

Some commentary and details:

AP: Loss Narrows

The Street.com: Unexpected Loss

Technorati Tags: gaming industry, las vegas, wynn, wynnlasvegas

A friend alerted me to a Wynn article in DM News, a trade publication. It describes the mailing of 205,000 "video enhanced CD-ROMs" in June and 65,000 more in July. The results have been very impressive. Wynn has tracked 164,000 unique IP addresses uploading and viewing the CD-ROM.

Unfortunately, there was a major factual error in the piece which hurts the credibility of DM News. The article discusses Wynn's competitor, Trump International Tower & Hotel which "...opened across the street a few months after the Wynn debuted last year." Further, "...the resort is not only looking to gain ground against high-end resorts like the Trump...".

I wrote a Letter to the Editor of DM News, pointing out that Trump is not open, is a condo-hotel and is not a direct competitor to Wynn. You wonder what kind of fact-checking DM News does.

Multichannel DM Draws Aces for Wynn Hotel

Takashi, the chef Steve lured from Michigan to open Okada has left to open a restaurant in Chicago. Wynn's website has already erased all mention of Takashi. Who will be next?

Okada was/is an excellent restaurant. The new chef comes from San Francisco according to the Wynn site.

I've noticed how Bellagio's restaurants have become more corporate since MGM Mirage took over. I hope Steve keeps the individual identities of his restaurants.
Taksahi Leaves Okada

A press release this morning indicates that famous casino operator Jack Binion is going to run Wynn's International division. Interesting stuff:

http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=888495&highlight=

Also, an RJ article about Wynn Macau, opening in 40 days:

http://www.reviewjournal.com/lvrj_home/2006/Jul-27-Thu-2006/business/8637748.html

Technorati Tags: casino design, gaming industry, las vegas, macau, wynn

Ok, I have some shots from last weekend at Wynn Las Vegas.

A few shots of the construction progress at Encore as well as Wynn's new B Bar.

You can also see that Keno is closed... 'Shoe In' in the Esplanade was also closed and being remodeled.

http://photos.ratevegas.com/photo/gallery/june2006

Thanks to a reader I was able to tour Bellagio's back of house areas and I am working on an article based on that incredibly amazing experience. As of now, said reader will go anonymous - don't want to get anyone in trouble!

Technorati Tags: casino design, gaming industry, las vegas, vegas, vegas photos, wynn, wynnlasvegas

Jonathon Root is an actor who opened and subsequently closed "Avenue Q" at Wynn. He is back in New York performing on Broadway. He made some interesting observations about Wynn's theater in his blog. Here is an excerpt and link to it.

"...The Broadway audiences are spectacular! Don't get me wrong, the
Vegas audiences could be great, but it was very hit-or-miss. One
night we would have a couple hundred people in the house and the
next night there would be a thousand! There was no consistency, no
way to predict how the house would react. This is a comedy. It
thrives off of audience response. That was tough to work around in
Vegas. On Broadway, every show is raucous. The Golden Theatre just
rocks with laughter. Which is another thing: something about the
design of the theatre at the Wynn made it so that the performers on
stage couldn't hear the audience reactions well. People would talk
to me after the show and say, "Wow, did you hear that reaction when
you said blah blah blah?" and I would respond, "Actually, no. No, I
didn't hear it." Something about its cavernous design limited the
audience sound coming up to the stage. In complete contrast, the
Golden Theatre is like a shotgun funnel. All sounds from the
audience shoot right down the lane and connects with you on stage.
THAT, my friends, is a Broadway Theatre. A truly give-and-take
experience where I could hear every chuckle and outright explosive
laughter from the audience. Oh, and did I mention how nice it is to
have a FULL HOUSE?..."

Jonathon Root's blog

Another trip report featuring some high end accommodations, specifically MGM Grand's Skylofts, this time from reader David.

Thanks to David and Mike for passing this along!

"As I walked past the Aqua Theater, home of 'Le Rêve', I could smell flowers. As I passed into the hotel known as 'Encore', I was greeted by warming sheets of natural light, streaming into the vast gardens from the many skylights above. I had thought that Wynn Las Vegas was the pinnacle of comfortable, elegant resort design but once again, the bar has been raised."

We have a full feature on Encore details after the jump... (Warning: Spoilers - if you want to be surprised, stop reading now.)

Technorati Tags: casino design, gaming industry, las vegas, wynn, wynnlasvegas

So, I'm in Vegas checking out what is new and different and instead of just writing a simple note I decided to record audio as I walked through the properties... So, I guess this is the first Two Way Hard Three 'podcast'. I don't plan on podcasting on any kind of regular basis, this is a convenience thing. It's not short at over 30 minutes.

Anyway, if you don't like to hear people complaining about stuff, this isn't the podcast for you. I listened back and a lot of it is negative - I like talking about how people are screwing up... You have been warned.

NOTE: I recorded this late, late Friday night. I just listened to it again (and edited a bit). It's a little crazy sounding at times, very stream of consciousness. I also sound a little tipsy (never!). Hopefully I won't scare anyone off... Enjoy. I am off to a top secret meeting. Will report back when I have something to report.

Our podcasts are available via the RateVegas.com podcast RSS feed: http://www.ratevegas.com/feed/podcast

Technorati Tags: aladdin, bellagio, broadway, caesars, casino design, cirque du soleil, entertainment, gaming industry, harrahs, las vegas, mgm mirage, mirage, podcast, project citycenter, trip report, vegas, web sites, wynn, wynnlasvegas

This Thursday - Saturday will be on a research trip at Wynn Las Vegas (yes, life is tough), working on a detailed story on Encore's development, 'bare' at The Mirage and more. New for this time around - I'll be recording audio as well as writing details. We'll see how that goes. I might go to see 'LOVE', still not sure. Any requests for information, leave them in the comments.

Technorati Tags: bellagio, casino design, cirque du soleil, gaming industry, las vegas, mgm mirage, mirage, vegas, wynn, wynnlasvegas

I took a few photos today of Encore and Palazzo.

Photos of Encore and Palazzo

The rumors regarding Steve Wynn wanting to take over creative control of Le Reve are correct.

Today the company reported that they have purchased Dragone's interest in the Le Reve production for just over $15MM.

Supposedly Steve wants to add lasers, special effects and pyrotechnics to the show.

SEC Filing for Wynn Resorts

Technorati Tags: casino design, entertainment, gaming industry, las vegas, vegas, wynn, wynnlasvegas

I discovered this excellent and informative KNPR interview with Wynn Design and Development Executive Vice President Roger Thomas. This interior design guru is responsible for all interiors at Treasure Island, Bellagio and Wynn Las Vegas. Listening to this interview it is clear that nothing there happened by accident. Fascinating interview.

http://www.knpr.org/audio2006/mp3/060217_r-thomas.mp3

For those that don't listen regularly, KNPR's State of Nevada is a great insight into all things Las Vegas.

Update: I had no idea that Roger Thomas is the son of E. Parry Thomas, the famous Las Vegas banker.