Steve Wynn Casino Owner

Have you ever wondered who was behind some of the major casinos in Las Vegas. I did. You may remember the post I did on my trip to Las Vegas when I stayed at the Bellagio, sometimes referred to the Jewel of Las Vegas! Well it turns out that particular Casino came about because of a bloke called Steve Wynn! I found this interesting article about some of the stuff involved in the building of a casino that you may find interesting.

Steve Wynn Casino Magnate

Every casino that is constructed starts out as a proposal. This is the same way that most other construction projects begin, but there are some key differences. The main goal of the proposal is to get authorization to build on that site, which has to be given by the government. Another goal of the proposal is to get financial backers who will be interested in the project. When they see how the casino is going to be constructed and what it has to offer, they may decide that they will put some of their money down to make it happen, counting on making that money back in the future.

When you look at a proposal from casino owner Steve Wynn, for example, you can see that there are many different things outlined in the paperwork. The proposal needs to show every aspect of the casino. This is important for both sides of the equation, from getting financial assistance to getting authorization. The government needs to see exactly what is going to be built, and the lenders need to see all of the different ways in which they can expect to draw an income. Both sides can then decide if it seems to make sense, if it seems lucrative, and the project can go forward.

For example, the casino is going to be about far more than gaming. It is about the Steve_Wynn_Portraitoverall experience. It has to create an atmosphere that people will enjoy. It has to put them into a place where they feel comfortable and happy. To this end, it could include things like a riverside walkway, palm trees that have been flown in as decorations, huge dining areas or bars, and places for people to sit and relax. In many ways, it is going to look like a resort. These areas are not bringing in money in the same way that the slot machines are, but they still contribute to the overall earnings because they make the casino into a place that people will want to go, a destination that they will choose for trips and vacations.

Of course, the casino might be even closer to a resort than you would first assume. Some small casinos are just game rooms, bars and nothing else, but the larger ones tend to be incorporated with hotels. People can book rooms and stay there while they play. They view the casino as an additional part of the stay, not as the main reason that they are going there. They just want accommodations, but they will be more likely to choose a resort with a casino for entertainment than one without. This all goes into the proposal.

This is important for two reasons. For one thing, it shows the size and scope of the project, so the investors will know what it costs to build a complex like that. It takes a lot more to build a full resort than just a lone casino. At the same time, though, it shows the investors that the casino has multiple ways to make money. Spreading income out over food, drinks, lodging and gambling is the best way to ensure that the complex is going to make money in one way or another. A place like this is sure to get the financial backing that it needs.

 

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Peter Pelliccia

I'm an Aussie blogger who loves to blog and share everything that I've learned on my blogging journey, including blogging tips and ways to blog for money. I am also trying to make my way on YouTube. You can follow my progress by subscribing to My Bonzer Channel.

This Post Has 6 Comments

  1. been to Steve Wynn casino in Macau and wanted to say that there is nothing like it. It was an awesome place. Great atmosphere and the room were brilliant too. 1st class!!


  2. Twitter:
    I stayed in the Wynn in Vegas a couple of years ago when I was there for a conference and you can easily tell the difference between old Vegas and new Vegas. New Vegas is all about big money & showing big money, as there were lots of stores with very expensive stuff that only big spenders could afford, such as smartphones starting at $6,000 and watches starting at $10,000; ouch! It’s definitely an interesting thing to see and yet, flashy as it was, I felt kind of like an outsider because I knew I’d never be the type of long term visitor he’d like. No deals anywhere; that’s why some of us like old Vegas better. But one can’t deny the guy’s genius.
    Mitch Mitchell recently posted…The First Story Of The Year Is About… Dessert!My Profile

    1. He Mitch, we stayed at the Bellagio and I have to admit that we didn’t buy anything there, not that I really looked at the prices. We did however buy stuff at Planet Hollywood as some of the stuff there was affordable.

      I’d love to go to Vegas again and if I do I’ll be be visiting Old Vegas for sure.
      Sire recently posted…DEA Friday Funnies #97 Killer VideoMy Profile


  3. Twitter:
    I live in Las Vegas and can tell you the influence of Steve Wynn is everywhere. There is even a street named after him. He was behind Treasure Island, Bellagio, I think Mirage and now Wynn and Encore.One of the previous posters said “an interesting thing to see and yet, flashy as it was, I felt kind of like an outsider…” and I do agree there is a lot of expensive stuff there yet I feel like a million bucks inside that place. Anyone can slum it at Circus Circus and anyone can dream and be inspired at Wynn or Encore.Definitely check these places out when in Las vegas

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