Posted on 02/08/2018 9:44:33 AM PST by SeekAndFind
As the chief architect of modern Las Vegas, and a visionary who didn’t understand the meaning of subdued, Steve Wynn spent more than three decades luring visitors to the Strip with his opulent hotels, fantasy-filled casinos, fine dining experiences and luxe shopping.
But now, the question on everyone’s mind is: What is the $18 billion Wynn Resorts casino and hotel empire without Steve Wynn?
Hours after an unscheduled meeting of Wynn Resorts’ board of directors on Tuesday, Mr. Wynn, a 76-year-old billionaire, suddenly resigned as the chairman and chief executive of a casino conglomerate that stretches from Las Vegas to Boston to Macau.
With pressure mounting on his lucrative business operations, including a half-finished $2.4 billion casino resort near Boston, and with shareholder lawsuits and various investigations clouding his future, Mr. Wynn said he was stepping down because of “an avalanche of negative publicity.”
“Elvis has left the building,’’ the global investment firm Jefferies wrote in a note on Wednesday. “Mr. Wynn’s value to the company is unarguably profound as its chief visionary and diplomat. As such, we do not believe the company can grow at the same trajectory nor can it maintain its cutting edge position.”
Mr. Wynn’s hold on his company had been tenuous ever since The Wall Street Journal published an in-depth investigation last month revealing that he had been accused of harassing female employees for decades, including allegations that he exposed himself and pressured some women to have sex.
He denied the allegations, calling them “preposterous.” And in his statement Tuesday evening, Mr. Wynn did not admit to any wrongdoing.
A Wynn Resorts spokesman said Mr. Wynn was not available for comment Wednesday.
(Excerpt) Read more at nytimes.com ...
My bet is that Wynn just dumped a few titles he held but will still be running the show.
He’s 76 years old. His heyday is behind him. He can retire to enjoy the same decadent lifestyle he’s had all his life.
But now without the pressures and responsibilities of being the CEO.
As much as I admire Steve Wynn’s business acumen and vision......and his support for Trump as a candidate.....it is becoming clearer Wynn brought this on himself.
He was married to his first wife Elaine for years and years....they were marriage partners and business partners.
Then a few years ago, Wynn dumped her to marry a newer younger slimmer type.
The ex is now driving this scenario. ....and who can blame her.
She wants revenge for being dumped.....and she’s getting it in spades.
Elvis has left the building
Really? How many gospel LPs did Steve sing on?
He’s no Elvis.
Installing Wife 2.0 is never an easy task.
“Then a few years ago, Wynn dumped her to marry a newer younger slimmer type. The ex is now driving this scenario. ....and who can blame her.”
I can. She walked away with more wealth than most of us will ever even dream of. It’s F’ed up and evil to try to destroy someone simply because they don’t want to be with you.
But to chicks, wanton cruelty and revenge is justified if someone leaves you. You even said so.
She figures she “earned” the money she got .......said to be over a billion....but revenge got the better of her.
It’s not wanon cruelty.......no amt of money in the world could compensate her for the humiliation and loss of status she suffered.
I do admire Wynn....but he let his private parts takeover his brain.
True, but mostly because of all the residual effects of the uninstall of Wife 1.0! LOL!
He owns a large chunk of voting stock, so its doubtful he's going very far.
75% of their revenue is coming from Macau where this type of scandal is laughed at anyway.
They'll probably re-brand Wynn Resorts to Encore in the US to keep the femi-nazis from going crazy.
This is as good a time as any for Steve to take a step back.
That’s right - he’s bigger than Elvis.
Everything - EVERYTHING you’ve seen Vegas become over the last 30 years is because of Wynn.
The mega resorts - the themed hotels - cirque du soleil - all started with Wynn whose credits include revitalizing the Golden Nugget, creating Treasure Island, Mirage, Bellagio and finally Wynn. MGM and Caesers then followed his lead.
He literally is the Walt Disney of Vegas (for better or worse)
So he’s got sexual peccadilloes- he didn’t rape anyone and he didn’t beat anyone. That Bill Clinton was given a pass and still walks free today should be the same judgement for Wynn.
I’m hoping.
I’m hoping it was a strategic move to get out while the heat was on then move back in once the witch hunt is over. (If he stayed the gaming board was being pressured to investigate him to possibly rescind his gaming license)
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