Fastest-Growing Companies rank: No. 26
Headquarters: Las Vegas
Employees: 16,000
The business: Destination casino resorts in Las Vegas and Macau (China)Steve Wynn loves the blockbuster. It’s why he goes after all the biggest names in art: Rembrandt, Picasso, Renoir — he owns a few of each. His properties have always been similarly eye-catching. After all, it was Wynn who first brought the megaresort concept to the Las Vegas Strip when he opened the Mirage in 1989, then one-upped himself with the Bellagio in 1998. Since founding Wynn Resorts (WYNN) in 2002, the 71-year-old has opened four expansive properties, two in Las Vegas and two in Macau. He was early to Macau, opening a Wynn resort in 2006, and an Encore four years later. The pair brought in nearly $3.7 billion in revenue in 2012, more than double that generated by its Vegas counterparts. Part of the appeal — both to customers and Wynn’s bottom line — is that, when guests aren’t gambling, all other entertainment is on-site. Wynn hotels took in more than $260 million in retail revenue in 2012, while food and beverages accounted for nearly $590 million, thanks to the success of the company’s high-end (some might say blockbuster) nightclubs.
This story is from the April 29, 2013 issue of Coins2Day.
