Influential Names in Gambling

Steve Wynn (Part 2)

Steve Wynn was not just thinking about casino development in Las Vegas, he had bigger fish to fry. After the Vegas Nugget deal he built one in Atlantic City. The Atlantic City Golden Nugget was also Wynn’s doing. That property was built back in 1980. Steve Wynn financial value made him worth $100,000,000 by 1984.

Two years later, he bought the big chunk of Strip property that was located next to Caesar's Palace. After that land purchase he left the Atlantic City Nugget behind by selling it. That sale was for a widely reported $440,000,000. This was an incredible amount of money then (even now it is). He spent a great deal of the profits from the Atlantic City casino on the Mirage back in 1989. That property became the very first mega resort (3,000 hotel rooms) built since the MGM Grand debuted (it was located where the current Bally’s is).

When the 1990s hit and Las Vegas started to take on a whole new level of charm, Wynn build the Treasure Island next to the Mirage property. After that undertaking one of the biggest and best developments Las Vegas will probably ever witness began to start. Steve Wynn started to create the Bellagio. Centrally located on The Strip, this giant casino and hotel facility became the crown jewel of Las Vegas casino resorts. One can easily say that when Wynn created the Bellagio, he created his best ever property and turned Las Vegas around completely. After this property was in operation, Vegas became known as a major vacation destination – not just a gambling Mecca, but a place to vacation period. Thanks to the competition this property created, Las Vegas is still on top of the world of gambling.

After the Bellagio was up and running, its upper class luxury and style only complemented Wynn’s other major properties - Treasure Island and Mirage. While Bellagio catered to a more adult and upper class visitor, the other two properties gave Vegas a family oriented alternative to the typical Vegas vibe. This is when non gambling entertainment and attractions became very popular in La Vegas again. Suddenly, Las Vegas had much more to offer visitors than just gambling. At these three new powerhouse properties on The Strip, we now had access to a volcano show, a huge fountain and water spectacular and a pirate ship extravaganza. Other properties where left scrambling for ways to the very same.

You can easily argue that Steve Wynn’s style and beyond borders imagination revolutionized The Strip and Las Vegas all together.

One Wynn left the Mirage and other properties behind to innovate more of Vegas on his own, we noticed a major merger wave taking place within casino properties in Vegas and Atlantic City.

After more than 3 decades of revolutionizing Vegas he went on the next level and crated The Wynn Las Vegas which opened in 2005. That property cost well over $2 billion to develop and is an amazing casino resort.

More on Wynn:

-          He has 2 daughters. One was held ransom in the 1990s and Wynn paid a massive $1,400,000 ransom to get her back safely as any father would if he had the money. The people responsible for the abduction are in jail for a very long time.

-          He has just completed a property in Macau which is located not too far from Hong Kong in Southeastern Asia.

We will continue to follow his achievements and look forward to seeing the next big thing to come from this influential gambling businessman.

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