Word: wynn
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...outer islands, Adelson is creating an Asian Vegas Strip-- practically by himself. By early 2009, he plans to build 12 hotels for $10 billion, anchored by a 3,000-room version of his Vegas classic, the Venetian, with its famous canal and gondola rides. No wonder he derides Wynn's opening as "a nonevent. He's just going to be the equivalent of the tip of the iceberg...
...Wynn vs. Adelson, Round 2. The two have been banging heads in Las Vegas for years, and now their feud has been airlifted to China. The stakes couldn't be higher--then again, neither could the opportunity. With China's booming economy boosting the incomes of its 1.3 billion baccarat-crazed people by the day, gaming revenues in Macau will probably overtake the Vegas Strip's this year...
What gives this rivalry its extra punch is the obvious antagonism between the Vegas heavyweights. In a corporate world where p.r. spin masters train CEOs to spout boring managementspeak, Adelson and Wynn think nothing of tossing barbs at each other. Adelson complains that Wynn has "a big ego." Wynn calls Adelson "Mr. Magoo, with an edge...
...Wynn and Adelson have done more to remake Las Vegas than anyone else, and yet no two businessmen could be less alike. Wynn is Vegas royalty, the artist who rejuvenated the Strip by going upmarket in tone with the Bellagio, which showcased Van Goghs and Cezannes and Degas's dancers instead of topless showgirls. He lost the place to raider Kirk Kerkorian, who took over Wynn's company, Mirage Resorts, and booted Wynn, who scored a $6.4 billion payout but still had a score to settle. Last year Wynn returned with the new Wynn Las Vegas: more hushed, more exclusive...
...Wynn isn't intimidated by Adelson's massive building program, which he dubs the "Sheldon Avalanche." Adelson's "use of pejorative rhetoric and dismissive language is not so much a reflection of any deep understanding on his part as it is his personality. He can't help himself," Wynn says. His posh inn, Wynn believes, will draw customers who will run up larger tabs--and create fatter profits. "Bigger ain't better. Better is better," Wynn says. The Wynn Macau "would look not like an office building, but a resort. We will always get our market share, because...