Word: wynn
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Dates: during 2000-2009
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...Size of two tears casino mogul Steve Wynn made in Pablo Picasso's Le Rêve when he accidentally elbowed the canvas...
...million Price for which Wynn had agreed to sell Le Rêve to a Connecticut collector, which would have been the most ever paid for a painting. Wynn now plans to keep the piece after it is restored...
...Deutsche Bank gaming analyst Bill Lerner says Wynn's loss isn't surprising for a company still very much in development. According to Lerner, the competitors' two Vegas hotels earn just about the same operating profit, though since Wynn's property is smaller, it does average more per room and gaming table. However, Lerner says the best way to compare the two properties is to look at return on net investment. By this measure, the Venetian wins out, 30% vs. 12% to 14% for Wynn, but since Wynn's hotel is so much newer, he could catch up. Amazingly, Lerner...
Just as in Vegas, their fierce competition in Macau will spur other developers to build better and bolder projects that will attract larger crowds. Wynn says he's "rooting for my competitors to do a good job"--even Adelson. "If he can fill it, God bless him. That kind of stuff, notwithstanding the attitude of the chairman, is a great thing for this town...
...battle of Macau is just heating up. Adelson's main entries on the Cotai Strip are still to come. "People say I've changed the face of Vegas, and now I'll change the face of Macau," he says. Wynn has much more in the works as well. He's secured a 54-acre site next to Adelson in Cotai to build four hotels--three of them full casino resorts. "I think it is more important to focus on people's work than it is their talk, including mine--but especially his," says Wynn. "And when the smoke clears...