Word: wynn
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...which opened at the end of 2001, decided to aim even younger. The Maloof brothers, who own the Sacramento Kings basketball team, sold their local casino and built the Palms off-Strip and gave it no particular theme, figuring Vegas visitors would find out which hotel fit their demographic. (Wynn will also be unthemed, as will the Palazzo. The MGM Grand and the Mandalay Bay have almost entirely shed their film and Asian themes.) "I wanted to build the ultimate party place," says George Maloof, 40, the brother who runs the hotel. "I wanted to make sure I cultivated young...
...debt) that would create an even bigger company. Sheldon Adelson, the 70-year-old owner of the Venetian, is contemplating an IPO to score some cash to make a bigger bet on a new Strip hotel, the Palazzo, and other properties in the U.S. and overseas. In April, Steve Wynn, 62, the man who brought renewed glamour to Vegas in the 1990s with the shimmering-sided Mirage and then the Continental swank of the Bellagio, will open the $2.6 billion Wynn Las Vegas. It's just a construction site, but Wynn's creation is scaring all his competitors, with...
...cash, stock and debt) that would create an even bigger company. Sheldon Adelson, 70, the owner of the Venetian, is contemplating an ipo to score cash to make a bigger bet on a new Strip hotel, the Palazzo, and other properties in the U.S. and overseas. In April, Steve Wynn, 62, who brought renewed glamour to Vegas in the '90s with the shimmering-sided Mirage and the Bellagio's Continental swank, will open the $2.6 billion Wynn Las Vegas. It's just a construction site, but Wynn's creation is scaring all his competitors, with its plans...
...owners of Palms Casino Resort, which opened at the end of 2001, decided to aim even younger. The Maloof brothers, who also own the Sacramento Kings basketball team, built the Palms off-Strip and gave it no theme, figuring Vegas visitors would find out which hotel fit their demographic. (Wynn will also be unthemed, as will the Palazzo.) "I wanted to make sure I cultivated young Hollywood," says George Maloof, 40, the brother who runs the hotel. "In the '70s, '80s and most of the '90s, Hollywood didn't really come to Las Vegas except for a big fight...
...clean up the territory's casino culture - and to profit from it - China ended Ho's choke hold on the industry in 2001, launching a bidding war for two additional casino licenses and slapping a 39% tax on all three. One of the new license holders is Steve Wynn, who is credited with reinventing the Strip in Vegas. "Right now, Macau is for the gambler - period," Wynn told TIME last month before breaking ground on a $705 million wonderland to be flanked by the old Lisboa and a planned joint venture between Ho and MGM Mirage. "The trick...