Reading Wynn Las Vegas' most recent SEC filing, a couple of items stood out.
Most of the stuff was very run of the mill but it did note that as of today, the company's lenders have approved the budget, plans and specs for Encore, which was the last issue, even if just a technical one. Groundbreaking is expected April 28th, the one year anniversary of the opening of Wynn Las Vegas.
Also, the golf course development is briefly discussed. Nothing revolutionary, the same old info regarding multiple lakefront hotels on that land. The one interesting detail was the disclosure that they don't expect any construction to begin there until 2009.
For those that like to read this stuff, here goes:
Now, this is getting interesting.
Colony Capital has made a bid for Aztar that's higher than Pinnacle's of a couple of weeks ago.
This was one of those trips that just came about at the last minute. I made a promise to myself of no more Vegas until April so the bankroll and funds would be more substantial, but then I get a call from my brother:
“Me, Dad, and Uncle are heading to Vegas and staying at Monte Carlo for a night. You down?"
This is a report from reader/contributor Mike E., keep reading after the jump.
For years and years, many travelers equated cheap rooms, shrimp cocktails and showgirls with Las Vegas. Hotel rooms under $100 per night were available all up and down the Strip - not just from the Northern cluster of older hotels. As recently as 1999 it wasn't uncommon to be able to book at room at Bellagio for $140/night on weekends.
These days, rates for standard rooms have increased and former mid-level properties have been renovated and re-branded in an attempt to convert them to the higher end. Forget about Strip rates under $100 on weekends and don't be freaked out if your sub-par room at the Luxor costs $249.
What happened? Is this bad for the city? Is Las Vegas still a deal? More after the jump.
Based on one of the comments on one of my VegasLists, I found out about a really cool podcast by a couple that moved from the Bay Area in California to Las Vegas.
The podcast is professionally produced (the husband runs a custom music company and is an accomplished musician) and is really an interesting listen. If you've considered moving to Vegas and want to hear everything about buying a house, dealing with furnishing it, the hell of installing a pool and even the driving habits of the average Las Vegan, check it out.
Interesting interview and remarks from Grant Bowie, Wynn's GM in Macau:
Wynn Resorts has released its 10-K Filing. It contains detail on '05 results and Encore and Macau plans for '06 and beyond . Encore's cost is now $1.74 Billion, but that figure includes an employee parking structure on Koval Lane, east of Wynn Las Vegas.
The Las Vegas Business Press provides details on renovations to the ground floor Fairway Villas which overlook the golf course. Mike E. showed Hunter and me the construction zone last November, but Wynn was tight-lipped on the changes at that time. The twelve villas will be even more upscale than when Wynn opened.
Wynn Renovates Fairway Villas After Less Than A Year
The same issue offers insights into other changes underway at Wynn now or to come:
Steve Wynn Not Hesitant To Make Changes to enhance Wynn Las Vegas
Pinnacle Entertainment (PNK) will buy Aztar (AZR) for about $1.45 Billion in cash plus debt. Overall, the deal will be $2.1 Billion.
Pinnacle To Acquire Aztar
Dan Lee exuded confidence and competence in the conference call. This will be a great deal especially with Dan Lee's commitment to redevelop the entire 34 acres on which the Las Vegas Tropicana sits.
The conference call is well worth listening to at:
Pinnacle Entertainment Conference Call of March 13, 2006
I spent three nights at Wynn the last week of February, followed by three nights at Bellagio. It was interesting to stay in comparable accommodations at both properties and compare them.
A few weeks back we announced a new interview series here on the site and our first subject we asked was DeRuyter Butler, head of architecture for Wynn Design and Development. Mr. Butler was gracious enough to accept and we began gathering questions.
The interview questions came from the readers. We then whittled them down to what we felt was a good mix of questions covering multiple topics and sent them off.
The answers to the various questions that got passed on are after the jump. Questions are in bold and his responses follow. An apology if your question didn't make the cut, there were quite a few great questions and we had to limit the number to keep this reasonable.
I think Mr. Butler's detailed answers will thrill anyone interested in Wynn Las Vegas, Bellagio and resort design in general. We're lucky to start our interview series with such an interesting subject.
Both the Las Vegas Sun and the Review Journal have articles that preview the new Red Rock Station Casino, opening next month.
Personally, I'm interested in checking this place out when it opens.
According to the LV Sun, Wynn has struck a deal to sell a sub-concession in Macau to an Australian company for $1 billion dollars.
Update: Looks like it is official, though a little less at $900MM.
The press release:
A good article in the Las Vegas Sun breaks down some of the economics of modern slot machines and the differences between games the casinos buy outright and those they share in profits with the slot manufacturer.
I'm posting this as a favor to Chuck at VegasTripping.com - he's trying to get the word out.
The family of Michael Tata, the former VP of Hotel at Green Valley Ranch before his untimely death, are organizing a charity golf tournament in his name.
Details are here: http://www.michaeltata.com/