Two Way Hard Three | Las Vegas Casino & Design Blog

In a meeting last week between Steve Wynn and his Wynn Las Vegas dealers, the Wynn Resorts chairman and CEO apologized for what he called a 'big mistake' - his changes to the casino tip policy that were enacted last September at the Las Vegas Strip resort and the resulting brouhaha.

Wynn spoke about being tired and worn out by the opening of Wynn Macau as he was making the original decision. He laments the loss of the feeling of family at the company and acknowledges that many there feel betrayed. Calling it the 'wrong solution to the right problem', Wynn then urged the dealers to vote 'No' on the election this weekend that would have their casino dealers join the union.

As we get word of the Wynn vote, we'll keep you updated. Even if the dealers vote yes in a majority, the company still would need to negotiate a contract, which the union has failed to do in the past at other resorts where elections have gone their way.

Update: We have posted the audio of the story, provided by reader Leonard Stern:

Also, Steve Friess posted a story on this topic:

Technorati Tags: , , , ,


Read archived comments (70 so far)
May 13, 2007 6:22 AM Posted by detroit1051

Too litle, too late from Steve. Final vote was 444-149 for TWU.

May 13, 2007 6:59 AM Posted by Molly

74.8% voted yes.
Those big old crocodile tears and in-appropriate hugs in the pit the other night backfired.

The "yes" voters actually increased by almost 5% after that idiot piece of strategy.

Bet we don't hear much out of his mouth for a LONG time now, if at all.

Adelson and others are going to want to kill him.

My next prediction: He'll sue Garrity for not winning the vote.

What a guy.

Caesar's Palace is next and they've already started receiving the packets.


May 13, 2007 9:10 AM Posted by Jason Robar

Isn't Steve's solution to correcting his mistake missing from his speech to the dealers? "Trust me, we'll fix it, but just don't unionize" would sound better if you hadn't already lost the faith of the dealers.

May 13, 2007 10:33 AM Posted by mike_ch

Why would you perchance be going on about who's "next," Molly? I thought you were only in this fight because of Steve Wynn's greed & people you knew at WLV who were breaking down. Certainly, we've heard nothing that says Caesars is redistributing dealer tokes, even MGM-Mirage has stepped closer to that line (Kerry Packer tip) in recent years.

So either Caesars is doing terrible things to dealers we don't know about, or I was right all along and you're union cheer leading. Hmmmmmm..... I'll have to go into deep meditation on that one.

May 13, 2007 1:23 PM Posted by Brian Fey

Well, I don't know. Molly, Leonard, all these people can spin this anyway they wish. However, Wynn did what any great CEO needs to do. He saw a major problem, and he tried to fix it. In this case he didn't fix it, he made it worse. But Steve Wynn is right, much more than he is wrong. I think this was a great speech, I think he was honest, and explained himself well. Looking back, yeah maybe this was a big screw up, but he was a man, he fessed up to his error. They went union, and he'll work with this. I'm sure the Wynn bashers on this site, think this is the beginning of the end. Well you people, can just keep dreaming. Wynn will move over this speed bump, and a year from now, things will be moving forward. Even through all of this, revenues have keep rising. Bottom line is, at the end of the day, the customer dosent not really care. As long as there is great place to go, people will keep going. Spin this however you want too, but I've been hearing from all the Wynn smacks how the best of this hotel is behind us, and its just down hill from here. Well if that's true, why do the room rates keep rising, and why does the casino revenue keep going up, and now the profits are flowing. I can't wait until next quarter for people to see Wynn can make profits. These fools that think this was a fluke, just a one time thing, blow my mind. Love him, or hate him, Steve has a proven track record. And what's interesting, is in the end, Wynn might very well have the last laugh. This contract might cost these dealers much more money in the long run, than just losing part of their tips. Time will tell...

May 13, 2007 2:28 PM Posted by mike_ch

Last night around midnight PST, a few hours before the ballots closed, I mailed my predictions to Hunter:

* The vote would pass * The union will eventually walk away from negotiations * It'll take us a month to figure out whether this policy is going to change * Nobody is going to do anything that'll change my opinion of the company.

With the track record this union has, I don't think they're going to reach a deal. Even if I'm wrong on this their track record suggests it won't be a good bargain and with Nevada being a right-to-work state we'll see what kind of conditions Wynn offers for dealers to not join the union.

You anti-Wynn folks can take heart though that I don't have much faith in Wynn management, either. Not my first choice in companies for this industry.

May 13, 2007 3:17 PM Posted by Leonard Stern

detroit: Damn it, you beat me to the punch once again! I was aware of the almost 75% unanimous decision to unionize early this morning after all of the votes were tallied + mailed Hunter right away. I encourgae ALL of the Wynn "fanboys" here to download the audio link of Steve's pathetic (mandatory attendance) speech last week in order to try + convince his dealers to vote NO for unionization. I honestly believe that Steve Wynn deserves to be listed in the 'Guinness Book of World Records' AS THE BIGGEST BULL SIT ARTIST ON THE ENTIRE PLANET - EVER! Wynn's "sob story" + clearly feeble attempt to "apologize" for his terrible "mistake" has fallen on deaf ears. His obviously scripted speech was replete with absolute lies + untruths. He sounds to me like a lost little whining puppy dog that just wants to come home. His groveling + repetitive use of "we're all family" only serves to prove that Steve is a an absolute master of deception when it comes to contorting the English language. "Family" my ass! Wynn has consistently talked out of both sides of his mouth ever since he made "promises" to the, then current personnel with tenure @ The Mirage, providing them with a guarantee that they will be offered advanced positions when Bellagio opens, all of hich he promptly reneged on. Do ya think that Steve might just be having a "really bad day" today? Well, as far as I'm concerned, this is far from over. So to all of my biggest opponents here on this forum, realize that I have access to inside information, which, consistently proves to be right on the mark over-and-over again in connection with Steve + Wynn Resorts, Ltd. This is what has propelled me to launch my future website Now let's look at the ramifications of the fact that the WLV dealers are the first to actually succeed. All previous(dealer union) efforts ultimately failed. The real fun begins when the NLRB will have completed their investigation in July + report their findings regarding the company's alleged breach + violation of FEDERAL LABOR LAWS! (that would include the video capture of Wynn's irate behavior which is in my possession) memorializing Steve's tirade whereby he threatened to FIRE ANY or ALL dealers who attempted to even try + form a union! Yes Steve, you are caught on tape - kind of like a 'Dateline' segment, huh? Secondly, WYNN is a public company, so if the NLRB findings do not turn out to be in Wynn's favor, this could potentially have a serious negative affect on Wynn Resorts "unlimited" gaming license status here in Nevada. Everyone in the industry is fully aware that Steve has local + state politicians in his pocket (including Gibbons where Steve was one of his largest contributors). Gibbons is currently under criminal investigation himself by the FBI, so [his] tenure as governor could very well be short lived. Elaine Wynn has been up there in Carson City, using the "Wynn influence" opposing both Bills, including revised AB 248, which is likely to die in the Senate due to the fact that it was (thru Wynn's pressure) demoted to a committee that will never consider it. Back to the smoke + mirrors that Steve is so eloquent at pulling off. Any person of 'reasonable' intelligence who has followed the toke-sharing policy enacted last September, only needs to focus upon the print media (i.e. the recent Simpson interview with Steve in the Las Vegas Sun), TWO district court cases brought against Wynn Resorts (they ultimately prevailed) but read the transcript folks. All of a sudden Steve does a complete 180 after almost EIGHT months of publicly supporting + defending his position on the toke-sharing policy that [he] was apparently "not aware" of the affect that this had on his team memebers, sorry "family". GMAFB. Now let's get to the good part, Steve, consistent with his tyrannical stubborn charater, will make it almost imposible for the newly formed dealers union + Wynn management to reach a mutually acceptable contract. Yes, Steve is stupid + narccissistic enough to risk a possible dealer STRKE @ WLV by standing firm + not budging from [their] position. Everyone here knows that the table drop revenue is the heart + soul as well as the "Life's Blood" in the bottom line for large a major high-end luxury gaming property like WLV. So far Steve has failed in the last TWO years with ALL of their show venues, TRYST's reported earnings are far below that of PURE, how many "celebrity" chefs have left the property + how many restaurants have been closed/revised since WLV's opening. The Ferrari dealership is nothing but a Disney-like attraction to true Ferrari enthusiasts, etc., etc. If the upcoming NLRB investigation, particularly with the dealers union now a given, doesn't result in Wynn's favor, watch the already "most volatile gaming stock" accordng to three of the top ranking gaming analysts retreat big time. Mark my words on this, WYNN shares could be headed south by as much as 75% if the company is found in violation of federal labor practices. My only question is, why is a mentally disturbed man (regardless of the fact that HIS name appears on the outside of the building) allowed to irresponsibly conduct business + contune to autonomously act as CEO of this PUBLIC COMPANY after two years of failures? Steveie, I won't rest until I "have" your unlimited gaming license revoked, which should have already happened with by your flagrant disregard + violation of NGC statutes with your continued association of a convicted felon, friend for life, Michael Milken! I spoke with several high level competing executives at their home this morning, + "off-the-record" the current consencious is, not only is Steve Wynn no longer the "most powerful man in Nevada" he has now earned the reputation as the "most despised operator in Las Vegas" by his own peers. Let's hope the "Domino Theory" doesn't apply to the operation of major Las Vegas gaming operations...Steve's sheer stupidity + unchecked behavior has opened a Pandora's Box that, quite, frankly, will have a negative impact in the future of the gaming industry in Las Vegas. Way to go Steve, no one can agrue that this isn't truly another "visionary" idea of yours.

May 13, 2007 3:34 PM Posted by Hunter

When is your Web site scheduled to launch (approximately)?

May 13, 2007 3:53 PM Posted by Tom M

I frankly can't get too excited about this issue. I don't care one whit about people who are avg 90k in salary + tips making more money. The best dealers in Vegas can work anywhere they want so if they don't like working for the "deranged" SW, then go to Sands, or MGM. This is much ado about nothing.

May 13, 2007 4:27 PM Posted by Leonard Stern

Hunter: I am aiming for a target date leaning towards the end of this summer. As I have already related to you privately, I am currently faced with some serious personal family issues to contend with which might delay the launch of my website, These issues will require my full-time attention in L.A. This could possibly cause the launch date of my the website to take as long as the end of this year. I will not go forward with this until everything is 100% in order + totally covered from every angle, including my 'legal associates' that have already committed themselves as well as more than sufficient funding required to do this 'right', which I don't expect to be much of a problem. Steve will throw everything at me that he can, including filing a motion for a TRO and multiple injunctions to suppress, after having published the stuff I intend on doing. I want to clarify a previous comment that I made here which, rightfully, deserved the negative criticism I received, instead of my being the "Perez Hilton" of the Wynn inside "scoop", I would prefer to change it to the "Harvey Levin" instead. BTW - A little tdbit, my contacts over @ WLV have reported that Steve recently has "beefed up" his personal, armed former FBI security detail as well as having been spotted with BOTH of his highly trained German Shepherd attack (killer) dogs in tow with him when walking the property. Do ya think Steve might be in fear for his personal safety as a result of this mess?

May 13, 2007 5:05 PM Posted by mike_ch

His speech reeks of desperation, although I wouldn't throw out titles like "biggest bull sit artist on the planet - ever" because I've always found his paintings of tired cattle to be quite lacking. Yes, I know what you meant, but that one made me smile.

LS, in 2000 I had encountered workers at Bellagio who said they were moved up from other Mirage properties, so I don't know what you're talking about there. If you're talking exclusively about dealers, that would go a long way to explain some of it since I'm not a tables guy.

Back in January you told me that you've heard a tape of illegal threats exists, but now you're saying you have a copy. Which is it?

Nobody's going to revoke a license because he made a woman cry. Even if it's proven he did something illegal, I imagine they'll just fine the company.

We'll see what negotiations bring about. I have a feeling if the union doesn't walk away that when the details are hammered out they'll be so hamstrung that many employees will feel they're getting a better deal by opting not to join the union, especially since you're not under any obligations to strike. Of course the possibility that the union has the fortitude to go that far seems suspect to me, but if they do striking can dent your pocketbook just as much if not more as skimming to floor managers.

Funny that you talk about how precious table income is when MGM-Mirage kept their numbers afloat with less gambling profits than expected. No doubt building a million nightclubs on the west end of the strip (with more to come at Monte Carlo and NYNY) and half a million more in the MGM Grand helped accomplish that feat.

How many restaurants have been closed/revised since opening? Well, Corsa got an upgrade. And that was that. None of the garbage Bellagio has seen in the past 5 years like Nectar or Caramel that opens up and then becomes a useless waste of space waiting for the next facility to move in about eight months time. Also, I take (mock) offense at your Ferrari statement a Disney attraction would be much more popular than that silly Ferrari dealership. :P

Finally, while I'm on that note, while I wouldn't go as far as you did in your closer, I will say that Wynn would be behind MGM, Sands, even Boyd because I don't trust the guy to personally run every facet of the resort at top quality and efficiency. If he really only knew of the drama he created on his Friday afternoon visit to the dealers room (and I don't believe that at all) then all it means is that somewhere in the corporate ladder every man on the rung is a total yes-man who isn't telling Steve something he didn't want to hear.

As a guy who has spent the past ten years following Disney, I remember Michael Eisner's follies and eventual upheaval and I think I recognize a lot of familiar pieces falling into place here. Unfortunately, when the same guy who is Chairman/CEO also has control of the stock vote, not much can be done. That's why I'd never buy WYNN, and prefer just to be the bemused observer.

May 13, 2007 5:14 PM Posted by Brian Fey

Leonard, You might know a lot about hotel design, but you sure don't seem to know much about the investment community. You state if Wynn is found guilty their stock value could drop as much as 75% ? Lets say Wynn stock is about $100 for a nice, easy round number. You are saying that stock could drop to $25 ? I would at least hope you're smart enough to relize that Wynn Resorts company assets alone are worth far more than that, even if the company did zero business. Their land in LV alone, might be worth a few Billion. A $25 stock value, would equate to a market cap of around $2.5 Billion dollars. You can keep hating Wynn, but you'll never bring him down. Hate him all you want, but if he keeps building great properties, people will stand in line to check them out. The registers will ring, and so will the profits! Long live Wynn Resorts! This company has a beautiful and bright future! Maybe you should consider some professional help, to help you deal with your anger towards Steve Wynn, I mean, its just not healthy to hate and despise somebody the way you do. Life's too short man! Really.

May 13, 2007 5:33 PM Posted by Tom M

I think steve's speech sounded pretty desperate. I wonder whether there was some alternative reason for it, ie something to do with the NLRB and/or setting up the union for failure. I believe that he will negotiate very toughly with any union and make sure the deal is worse than what they had without the union. That would force a strike and of course, he could replace these guys very quickly because their comensation is much higher than most resorts and none of them are unionized. It would be much different if the whole strip was unionized. Anyway, it will be mildly amusing to watch the soap opera.

May 13, 2007 5:51 PM Posted by Leonard Stern

Brian: "With all due respect", you are so full of uninformed B.S. it really doesn't even dignify nor warrant my time to even make an attempt to respond to your comment in a civil or appropriately acceptable manner. A "speed bump", hardly! All of the Wynn "fanboys" (which represent practically EVERYBODY here) simply need to be patient until the NLRB's findings/ruling in July with respect to Steve's FEDERAL previous multiple labor law violations by THREATENING ALL of his (dealer) employess with termination at a 'mandatory attended' meeting should they attempt to unionize. Dude, I have "the" cell phone video of the whole thing, from Steve's out of control banging on the table top causing cups of water to fly all over the place to his personal verbal one-on-one assault upon a totally innocent female dealer (who was subsequently terminated within a few days) Brian, wake the fuck up, + "get it"? Wynn's gaming license is in jeopardy! No shit. NOTE TO ANY OF STEVE'S PAID WEB TROLLS, WHO MONITOR THE INTERNET, THIS SITE INCLUDED, I HAVE BUT ONE COMMENT, STEVE WYNN'S "PERSONAL" REQUIRED INTERVIEWS WITH FEMALE FLOOR EMPLOYEES + OTHER HIGH EXPOSURE FEMALE PERSONNEL @ THE MIRAGE IN THE EARLY 1990's! (after the company went public). I can't wait to publish multiple surreptitous so-called "personal inerviews" by the CEO of a public corporation in connection with certain female employees being considered for employement @ The Mirage in the capacity of positions as female bartenders, casino floor personnel, including dealers, etc. So, to Steve's professional trolls, just think about what I am referring to for a momment. I definitely got the "goods" + will not hesitate for a momment to publish these videos on my website. Consider it equivalent to a higher-grade FBI video capture of the late John DeLorean, who unfortunately was ultimately acquitted. Only these chicks were smart enough to conceal a video camera in their purse...Steve you're totally fucked + you know damn well what I'm talking about. Payback is really a bitch!

May 13, 2007 6:08 PM Posted by Leonard Stern

Tom M, you as well as many other posters seem to believe that Wynn can simply fire or otherwise terminate ALL of his 700 dealers "at will" simply because they cannot reach a mutually acceptable contract agreement, YOU ARE ALL 100% WRONG! This was an NLRB sanctioned union vote, which, if you care to read the National Labor Relations Statutes (rather lengthy), Wynn Resorts CANNOT either terminate nor fire ANY of the dealers without going through the normal procedure of individual evaluation for cause. So for those pro-Wynn fanatics out there, if a contract is NOT eventually reached, the WLV dealers have federal protection to stike without facing loss of their jobs!

May 13, 2007 6:49 PM Posted by Hunter

This is not a venue for direct attacks on anyone. We're discussing the audio and the union. Anything else is off-topic.

Comments can be passionate but *must* be civil. I dumped a few comments due to name calling even though they had some valid and interesting points. No big drama, I'm just bored of the threads that go that direction. If your comment didn't show up, please re-submit without calling anyone else a name.

Thanks guys.

May 14, 2007 2:37 AM Posted by motoman

Brian Fey, well said. Even though you have a rep as one of the biggest "Wynn fanboys" here, your comment (especially " the end of the day, the customer [doesn't] really care. ...") makes practical sense. Thank you for cutting through the emotional hyperbole we've had to deal with here for awhile now. (You won't find me praising Wynn's little pep talk, though.)

A while ago, someone mentioned this place "jumping the shark" and I'm starting to agree.

May 14, 2007 2:47 AM Posted by motoman

Tom M, ditto to Brian Fey's remarks. You are on the money with both comments. (Seems employers have little trouble finding "cause" if they really want, and as the uninsured single mom dealer molly mentioned, found out.)

Thanks also to mike_ch for the practical insights. Jason Robar, nice to hear from you again. Cooler heads prevail--Thank goodness.

Finally! Hunter puts the hammer down. We thank you. (I take back the "jumping the shark" remark. Even us Vulcans get frustrated eventually....)

May 14, 2007 8:55 AM Posted by Tom M

Leonard, you are in fact wrong. Once the dealers go on strike, they can be replaced. That is normally called a "scab". However, since the union is not strong, there is the chance that Wynn will go for it and replace the dealers with non-union employees and just move forward. I am not sure it will ever get to that point, but it is probably something Steve would have to consider.

May 14, 2007 1:01 PM Posted by Leonard Stern

Tom M: Have you ever considered for a momemt the fact, that should a dealer strike actually occur sometime down the line as a result of failure of management + the TWU to agree to a contract, that the Culinary won't join + support their fellow workers? I've heard that Culinary is behind them 100%. What's Steverino going to do, replace 9,000 workers overnight? Preliminary inside rumor which I have heard indicates that Wynn will be forced to "cave" on the toke sharing policy + return the dealer tip sharing to what it was prior to last September. If Culinary indeed joins any 'potential' walk-out by the dealers, I would submit to you that, collectively, [the] union will become sufficiently strong enough to cause irreparable financial damage to the company, while its common knowledge that Steve has proven himself to be not exactly the most "astute" businessman in this industry, he certainly isn't that stupid not to move forward in good faith with contract negotiations ASAP. Wynn Resorts, rather Steve, has brought this upon himself + when the results of the NLRB investigation are released, he could have the feds crawling up his ass big time on UNRELATED practices., something that no public company wants to even think about, much less endure. mile_ch, I'm afraid you will just have to wait until is launched for me to reveal what I plan to introduce as far as video + audio captures that run the gambit of "Wynn-World" behind-the-scenes + unedited. I can assure you that it will be most amusing if not extremely entertaining. The downhill slide [for Wynn] has finally begun, Steve's pathetic cry-baby speech actually makes me WANT to have some sympathy for this "little man" with overly narcissistic aspirations. Tom, you give Wynn way to much credit for his unbridled "power". Steve is finally getting a little dose of his own medicine for the first time in over three decades - and trust me on this - there's a lot more "fun" to come..

May 14, 2007 1:01 PM Posted by mike_ch

I'd just like to step in for a moment and mention how outrageous some of the TWU propaganda is. One of the themes they hit over and over is about "robots" running the tables and thus replacing the dealers.

Maybe somebody should go ahead and remind the people back east that IGT's extremely popular Game King series of video poker machines has been capable of serving up games of virtual blackjack for years. Why isn't it popular? Most people don't want it.

Just another sign of how out of touch they are with the industry.

May 14, 2007 1:50 PM Posted by Tom M

Leonard, its true enough that if the other unions agree to honor the picket line of the dealers, then that changes the tactics Wynn will have to employ. I think, based upon Steve's speech, that he has already given up the toke sharing plan and therefore, it will not be a big issue during negotiations. Often these negotiations are contentious with both sides using "leaks" to the press of partial truths and/or outright lies to put pressure on the opposition. However, I think that Wynn has a pretty good track record dealing with the unions and has not ever had a strike against his properties. I don't think this will be a big problem in the long run for him.

May 14, 2007 2:00 PM Posted by BrianFey

Hunter this isn't personal, its just business. I consider you a good friend, so don�t take this personal. This is your site, and you can and do run it how you wish. If I had a site, I would probably do the same thing. However, I do find it interesting the messages you let post, and not post. I had some great comments yesterday on this subject, which you choose to block. But yet you publish, post after post of the Wynn Bashers. I get so tired of hearing the same old stuff over and over, how once this happens, Wynn will fall to his knees. Wynn will never make a profit, we were told. Now that they made a profit the Wynn bashers, say that's the last profit they'll show. I love how much people seem to hate this property, and the management that runs it, yet it remains the top 3 casino's in town. And even with all of these problems, has their business gotten worse? No, It's improved. If other posters on this site, believe that they are powerful enough to bring a company of this size to their knees, then they are truly delusional. Its amazing to me, that a once great Wynn Resorts fan site, has now just become an advertising forum for the few Wynn bashers out there trying to promote their cause. How someone can have such hatred towards one single person just blows my mind. So I guess keep post great stories, I'll keep contributing, and I'll keep posting. And I guess some of my comments will make it through, and others will not. I look very forward to other posters opening their own sites in the future, so then they will be able to promote their thoughts else where, and not have to try to dominate every topic we have, to spread their opinions and thoughts and brain washing others as to how much they hate certain leaders in this industry.

May 14, 2007 2:02 PM Posted by Leonard Stern

mike_ch, Actually, I have made mention of this earlier + it is actually a true fact. Steve is REALLY intending on eventually using robotic state-of-the-art "androids" to actually REPLACE humans for the majority of vital casino floor service activities @ Wynn Macau as early as the end of next year. He has alreday contracted several advanced automation device companies in China to begin developing prototypes of these "robotic" replacements. This includes, but are not limited to, all table game dealers, bartenders + other one-on-one personnel that require human interaction. The "Game King" virtual blackjack MACHINES can hardly be compared to direct personal contact, they are nonetheless machines capable of dealing a hand of cards. Wynn is totally off his rocker, but then again androids can't form a union, nor will management have to deal with those pesky tokes that so adversely affect Steve's bottom line table drop. One day, these robots will become so advanced that they will also revolt + unionize, I bet it will happen at one of Steve's joint first! Hey, Steve is a true "visionary" so he needs to make sure to be on top of his game. Does "delusionary" seem to be the first thought that comes to mind? LOL

May 14, 2007 2:20 PM Posted by Hunter

I don't take it personally.

At a certain point, running a site like this, full of community interaction, becomes a mix of stewardship and oversight. Anyone that posts has a (small) vested interest in the story itself.

You had one comment yesterday I haven't posted yet and that was because at the end there was some baiting towards another member. I appreciated the 'meat' of the comment but the end just didn't serve any purpose other than to piss someone else off and while maybe not an attack, it seemed mean spirited.

I'm maybe the *most* sick of every thread being hijacked so when I see something that I think will throw the discussion off the rails, I'm trying to filter it.

I know you guys on either side of the pro/con Wynn situation feel passionately. To be clear, I'm not filtering opinions on either side. What I've been working to actively suppress is when people write things like 'you need mental help' and 'you're a fucking idiot' in their posts. Stuff that people would *never* say in person.

I'll admit, I'm getting tired of this. It's supposed to be fun for me and it's becoming less so. It doesn't make any money (runs in the red) and I just shelled out $5k for a new design that will debut in the next month or so... Maybe I should have just shut it down instead. Or turned off comments. Anything could still happen but for those that are sick of the same thing over and over, count me in that bunch.

It's difficult to balance people expressing themselves and a civil environment when people are so passionate. At least I don't have a political blog!

I'll be the first to admit I've made mistakes and I'll make more. Maybe I should have published that comment. It wasn't the only one on this story I suppressed. Ideally I'd publish all comments without any moderation at all.

May 14, 2007 2:56 PM Posted by detroit1051

"...for those that are sick of the same thing over and over, count me in that bunch."

Me, too! I have to admit I am hooked by potential new information Leonard has, and my dark side is looking forward to his new website, but in the meantime, I weary of the "If you knew what I know, but I can't tell you" posts.

I search the internet daily for new information on Las Vegas and gaming. Since I haven't been there in six months, I've nothing personal to add. I would like to see more detailed information on CityCenter, Echelon, Fontainebleau, Palazzo, Trump (ugh!), RIV and other developments, but I haven't run across much.

I talk with friends in Vegas frequently, and I'm getting the impression the locals market is getting very soft. STN is offering lots of promos, and I've heard HET is offering all sorts of promos to locals to get them to fill up the rooms on the Strip. We also wonder how Echelon will do. After all, they won't have the condo sales that are paying for much of MGM's CityCenter.

Hunter, speaking for myself, and many others I'm sure, Two Way Hard Three is great, and I look forward to checking it every day for all the posts from everyone here.

May 14, 2007 2:57 PM Posted by mike_ch

My point stands that computer-automated card games aren't popular. They could be at the low end, but they won't be at Wynn.

Even if he did manage to get Lieutenant Data to deal cards, such a system is no more a threat to a dealer's job than, say, slot machines.

May 14, 2007 3:07 PM Posted by mike_ch

I sense unrest in the ranks in the past hour's posts, so I guess I'll propose a change (well, more of a revert) that I'd been thinking about for some time now: to return to design/architectural as well as customer experience stories instead of tracking the gaming business. We can still have news entries on things that are rather important (i.e. Luxor explosion) but skip over the corporate matters like quarterly statements.

That would, if nothing else, push away the debates between people who wish to defend/attack each other's investments back to Yahoo stock boards where those kinds of discussions run rampant. I've noticed a trend that this place tends to nearly pop off it's wheels every three or four months, and it's timing is suspiciously in tune with the latest WYNN quarterly.

Then we could go back to talking about renovations, construction, openings/closings, and so on. I mean, I'd rather talk about whether Encore is going to be fun place rather than if it's going to make money or not. I mean, as a guest what do I care about the latter?

May 14, 2007 3:16 PM Posted by marlymarr

Well you can't win them all Steve ol buddy. This has been a humbling experience for him to say the least. I'm a fan of unions and mabey something good will come of this mess.

I wasn't for or against the tip issue but i'm glad the Wynn employees stood there ground. I guess you really can fight corporate America!!

It's one thing to say you made a mistake, but it was a mistake for Steve to apologize for his tip pooling decisions but that's easy for me to say, i'm just glad no one keeps such a watchful eye on my actions.

I'm a Wynn fan and optomistic, i don't see this as the beginning of the end for the company; that seems rediculous.
This should be a wake up call to the Wynn management team, they need to step up to Steve when he's making a donkey of himself!

May 14, 2007 3:20 PM Posted by detroit1051

Well, I have to disagree with Mike_ch. I like the design/architectural AND the corporate/financial topics equally well.

May 14, 2007 5:23 PM Posted by Leonard Stern

Hunter: Please go ahead (with my permission) and post Brian Fey's comment(s) that you chose to delete/censor. I PROMISE to not be offended, or take any action towards, any of Brian's posts, especially if they are targeted at me personally + contain malicious remarks or whatever. If you elected to remove Brian's comments as moderator, + the substance of [those] communications do not reflect a response of his opinion towards any of MY [own] recently submitted comments which are, I can assure you, am in a position to defend by myself, but certainly not appropriate to pursue on your blog. If that is indeed the case, please forward to me Brian's comments that might have any connection with any of MY posts, if NOT I could care less what the contents of the subject matter consists of. (Brian, you have my e-mail address so if I am on-point, please send your comments to me personnaly). In keeping with the discussion for this thread, I have, since yesterday (Sunday), now e-mailed close to 30 MAJOR Wynn Resorts, Ltd. shareholders (who have a SUBSTANTIAL stake in WYNN) by providing all of them with the link to the online copy of Steve's audio capture of his pathetic "apology speech". As of this morning, almost one-third of these investors have responded indicating that they intend to SELL all of their WYNN holdings after the NLRB resolution is resolved in July. They have expressed serious concern over the inflated stock run up + potential volatility in WYNN, especially after this unionizion "horror" for WLV management. Furthermore, the "unofficial" audio will also be be distributed (by them) to hundreds + hundreds of other WYNN investors, regardless of their minor position stake in order to subjectively decide whether or not WYNN will be a viable player long-term. SELL, SELL, SELL before Wynn Resorts, Ltd. takes a major nose-dive! Suffice it to say, Steve's pathetic "please forgive me" diatribe was to little too late + has brought down his approval/confidence rating to way less than that of President Bush's. OH, I cannot wait for more "delicious experiences" to follow your eventual downfall Stevie! Hey Steve, you might seriously consider copyrighting "delicious experience" like Trump did with "you're fired". Karma is certainly a bitch + am not even a spiritual believer!!!

May 14, 2007 6:18 PM Posted by Brian Fey

Hunter, You are a class act. Period. Plain and simple. That was a great and fair response. You seem like a very reasonable person, and I like that trait in people. Keep up the hard work on this site, It does bring many of us great joy. And I agree, maybe we should all stay more on track, and focus on the things we all agree on, like loving Las Vegas, and not spend time fighting about other small mindless details. I look forward to meeting you in person one day.

Hey...Where's Mike E, been through all of this anyhow? :)

May 14, 2007 6:25 PM Posted by Leonard Stern

mike_ch: Are you seriously trying to compare the Luxor explosion incident with having ANY relation whatsoever to the potential affect upon the future of Wynn Resorts, Ltd., as an ongoing concern, after the recent chain of events? Tell me it aint so! What in the hell does the Luxor incident have to do with the fact that Steve has just been handed the BIGGEST challenge of his entire 30+ year career? Nice try to attempt to divert the subject topic at hand + facts, mike, but I'm afraid you chose the "wrong door" in this case + you will go home with a consolation prize instead.

May 14, 2007 7:32 PM Posted by Leonard Stern

marlymarr, I'm actually quite saddened to hear that you have made a conscious decision to actually become a devout "Wynn fan". Might I suggest that this could prove to be a seriously poor decision on your part (especially if you happen to own WYNN stock) when all is said + done. My staff + myself will be distributing over the Internet, the pathetic Wynn "apology" audio in its entirety to hundreds + hundreds of WYNN's major investors over the following weeks. So far, the response has been overwhelming, my ultimate goal is to create a sell-off that will eventually cause WYNN to retreat below $40/share. I'm told this might be a real possibility based on the recent chain of events + the final outcome of the NLRB findings. [This is only my humble opinion + friendly advise that I am offering + in no way should it be considered as an attempt at coercion or in any way influence your personal investment decisons in connection with WYNN] Note: Everything that [we] are releasing on our own to WYNN investors (all of whom are already known to us) is a matter of published, confirmed + reported fact that is easily available via the Internet.

May 14, 2007 9:28 PM Posted by Tom M

Hey Hunter you mentioned how you are losing money on this blog. I am not too up on the costs of running this type of site. I think you do a great job writing/managing this blog and it is a great forum to discuss these issues with other like minded folks. Can you give us an idea of how much money it costs to run these types of sites without divulging any personal/proprietary information.

May 15, 2007 9:13 AM Posted by Leonard Stern

In an extremely bold move, after years of remaining silent, John L. Smith finally speaks out again against Steve, big-time in the RJ, for all the world to see. Wynn's image is officially TRASHED in the print media. Keep up the good work John!!!

May 15, 2007 10:09 AM Posted by detroit1051

Leonard, it's really not necessary for you to distribute Wynn's audio. It's readily available on and by Jon Ralston.
By the way, Cogan at Bank of America has revised his earnings for WYNN to $2.35 this year and $2.36 in '08 with a 12 month price target of $106. He's still Neutral on it.
We'll see who is closer, you at $40 or Cogan at $106. Let the games begin!

May 15, 2007 10:13 AM Posted by Pikes

Is it Las Vegas, NV or Wynn Las Vegas, NV? Seriously... Anything else happening?

May 15, 2007 10:34 AM Posted by mike_ch

For someone who has been through hell and back with the guy; Smith's column on Wynn is fair, well-spoken, and of course opinionated but not far off the mark. And there wasn't even any trace of names like "Skeletor" or "Huggy Bear" or stupid *bleep*.

Thanks for the link.

May 15, 2007 11:12 AM Posted by Leonard Stern

detroit: I happened to be one of the very FIRST to release "the" audio on the Internet. As far as WYNN is concerned, major investors who have extensive stake in WYNN (as in several million dollars worth) whom I have talked with since the vote are VERY concerned right now over Steve's long-term ability to continue to effectively lead the company. His once "impeccable" image has gone right down the toilet. No damage control will be able to save his image now. He no longer garners the same degree of respect from his employees, his investors, nor the public at large as a result of his delusionary, tyrannical behavior throughout this mess. Steve's out of control greed has spilled over + contaminated his entire operation, affecting the Heart & Soul of what constitutes a successful gaming enterprise, ITS EMPLOYEES! Trust me, WYNN faces some really serious challenges as long as this deranged moron is at the helm. Many analysts consider Wynn Resorts, Ltd. to be THE most volatile of ANY of the major gaming stocks. Hopefully, for once in his entire life, Steve will shut his arrogant stupid trap + listen to his advisors by negotiating, in good faith, a contract with the dealers. Narcissistic demented people like Wynn are unable to view the world through a rational perspective. Hell, he can't even 'view' a God Damn thing anyways! LOL

May 15, 2007 11:46 AM Posted by Brian Fey

Cogan, don't seem to bright. Macau phase 2, opens Sept 6th. That will effectively double the size of their casino. And Cogan is only giving Wynn 1 cent more earnings for next year? Give me a break. With numbers like that, it should be easy to beat the estimates. Leonard good luck man, I'd love to see Wynn at $40, I'd just buy a few thousand more shares! Good luck on your one man crusade!

May 15, 2007 12:20 PM Posted by Mike E

Brian, I'm here and I could care less. I'm a minor shareholder with more concern over whether or not I'll have a good time next time I'm staying at Wynn.

I'm done with this issue.

May 15, 2007 1:50 PM Posted by marlymarr

Hunter, i am a huge fan of your site. It's the first thing i do when i go online because i enjoy reading everyones views and i learn alot too. I hope you don't decide to close the site or limit the ability to post opinions.

I'm not in a position to tell you how to run your ship but i think a rule of thought should be that if you have an adverse opinion on someone or something FINE! But no name calling because of there disibility (being blind or a jew for example), I am neither but those types of things can discourage someone from participating on your blog.

With that being said i think i will try to contribute more to show my support, i normally just read but feel a bit out of place posting my thoughts. Keep up the good work!

Leonard, I was a bit surprised to see that addressed me but i am glad that you did. I have been a Wynn fan since i was a child you see, my parents have worked for the man ever since i can remember. They've always had a positive opinion , for the most part. :)

I know it's cheesy and you probably shouldn't care but i remember being a very young kid and going to the Golden Nugget with my folks and being amazed at how classy the place was. I also remember standing in front of the Mirage for the first time and watching the volcano erupt, i was 9 at the time.

And then theres TI where i had my first job in the arcade, i really fell in love with the place. Not the arcade but the company. Of course there's the Bellagio etc... I have had many emotional experiences throughout my 26 years that are closely connected with Wynn and Mirage Resorts including a hefty scholarship.

What i'm getting at Leonard is that i respect your views on the man and he clearly isn't perfect, but with all due respect i would suggest that you find a new hobby. You've had a successful career and if i've read right you are retired. On a brighter note i hope my pewny investment in WYNN doesn't fall too short after your website is launched. :)

Sorry for the run on Hunter you can edit anything you wish.

May 16, 2007 9:19 AM Posted by Leonard Stern

Someone actually started a thread in the RJ 'E-Forum' on who is now the most abhorred celebrity figure; Paris Hilton OR Steve Wynn! Honestly, I swear that it was NOT me. Can you imagine comparing Steve's now tarnished reputation with that of Parasite (Herpes) Hilton? [I] wouldn't even stoop so low! As much as I detest the man, comparing him with Paris Hilton is really hitting below the belt. Let Steve keep what little remains of his dignity people! :-)

May 18, 2007 8:14 AM Posted by Hunter


You asked about the costs of running the Web site...

It's certainly possible to do a site like this with next to no costs. The things I've invested in are fast servers, this blog software and a custom design.

As I mentioned, a new design is coming soon. The new design takes better advantage of larger monitors that people have these days, as well as focusing on the content that is the most important (i.e. posts and comments). Basically it should look snazzier and also be more usable than this design. We've been plodding ahead with it but I'm pretty loaded down with other projects so it will be a bit before it is implemented.

Along with the new design, I'm considering changing blog software. I haven't totally made up my mind and a big part of that will be how hard a migration of all the existing stories and comments would be. There are some other software packages that are more flexible and expandable than this (Movable Type) so I've been thinking about this for some time.

I have a bunch of servers that host the site so in a way I'm paying the monthly recurring costs to myself. Both this and the main site have ads that have done reasonably well but there are costs for hosting all the photos and the videos, etc...

The main site software I wrote myself but if I had to pay for it, I probably would have been looking at $15k for all that software, the ratings system, etc...

So, hopefully that answers your question.

May 18, 2007 11:45 AM Posted by Brian Fey

Sweet! I run Apple 23" moniters both at home and work, so I'll look forward to the new stuff! I just got my July trip booked, I am excited!

Leonard, I will be there for 4 days, somewhere in those 4 days, I'll be expecting you to squeeze a lunch in.

May 18, 2007 2:48 PM Posted by Leonard Stern

detroit: Since the recent, successful vote in favor of the dealer unionization @ WLV, plus the potential of federal labor violations lurking on the horizon filed by the NLRB against Wynn Rssorts, Ltd. potentially [they] face a suspension of Steve's unlimited gaming license, Deutsche Bank has recently lowered Wynn Resorts, Ltd. 2007 Estimate from 2.48 to 2.18! Several major analysts (which I intend to post [their] collective 'bearish' projections for WYNN here in short order) have already gone on record that WYNN's first-quarter 2007 profit on higher revenue gains were ALREADY reflected in the CURRENT share price. Secondly, the recent announcement of the purchase of the New Frontier (as I reported two months ago) from Ruffin SHOULD have SPIKED the share value of WYNN by leaps + bonds, however, WYNN share price continues to retreat daily to just above 93 at close of trading today.

May 18, 2007 3:28 PM Posted by Leonard Stern

Hey Brian: Just let me know what 'specific four days' that you plan on coming to Vegas. I really look forward to meeting you for lunch. I will be in L.A. for over a week starting around the middle of June, but I assume that you are intending to come out here before then. Let me know your schedule + we can make arrangements to definitely hook-up this time.

May 19, 2007 7:56 AM Posted by detroit1051

Leonard, I may have to buy you lunch some day. We'll see. I'd rather be lucky than smart. I sold the last of my WYNN at $108 in January.
I still believe Macau will grow for Wynn, and the golf course property development will be timed perfectly, imo, after CityCenter and after what we see really happens with Echelon and Boyd. I have my doubts about Morgans Hotels. The Strip ain't South Beach.
At one time, either Steve or some analyst said the golf course would be more like Century City in LA. For us right-coasters, what exactly is Century City?

May 19, 2007 10:35 AM Posted by Leonard Stern

detroit: My mother has lived in a Century City high rise for 35 years, ever since it was built. It is a large dense collection of high rise office towers + condos directly adjacent (west) of Beverly Hills built on the former 20th Century Fox Studio's back lot in the 1960's. It is considered the "downtown west" of L.A. Most of L.A.'s more prominent law firms are based in Century City, probably about 75% of the biggest legal frims in the city are there. (just the thought of all of those lawyers all grouped together makes me want to puke) It is also home to all facets of the entertainment industry, including agents like CAA, etc. MGM Studios just made Century City their corporate home by leasing a brand new 40 story tower there a couple of years ago. Century City is currently undergoing a major building boom with several uber-expensive high rise condominiums under construction, penthouses in one of them are going for $30M! Due to its ideal location, directly next to Beverly Hills, it has become "the" location of choice on the westside for professionals + commands some of the highest rents in L.A. with an extremely low vacancy rate. I seriously doubt that Wynn will be able to develop anything even close to Century City, in either concept or scope. The golf course isn't big enough anyways. I do know [he] intends to offer commercial office buildings in the masterplan mix, but expect them to be along the lines of Howard Hughes Center rather than Century City. Never happen.

May 19, 2007 11:01 AM Posted by Leonard Stern

detroit: Here's an aerial view of Century City. My former architectural scale model company was commissioned to build ALL of the scale models for high rise projects that were constructed in Century City during the 1980's including Fox Plaza which was used in the original "Die Hard" movie with Bruce Willis.

May 19, 2007 11:02 AM Posted by Leonard Stern

Sorry, I forgot to paste the photo:

May 19, 2007 12:12 PM Posted by detroit1051

Leonard, thanks. The Century City info and link are very interesting. I never knew Tom Mix owned the land at one time. (I'm sure most people are thinking, "Who's Tom Mix?")
176 acres. That's huge compared to CityCenter, Echelon, etc but not too far off Wynn's golf course land.
Being a Detroiter, I'm very familiar with Minoru Yamasaki's work.

May 19, 2007 12:59 PM Posted by Leonard Stern

detroit: Yeah, Yamasaki designed the Century Plaza Hotel back in the early 1960's. It is still a great looking building for its age, since Alcoa developed + financed most of the original buildings, the Century Plaza is 'completely' clad top-to-bottom in aluminum! The 176 acre estimate is WAY off! This information is incorrect + should be updated. Century City has now expanded to the west (predominately mid-rise) to include most of the remaining 20th Century property that is at LEAST 50 acres or more. Actually the first high rise residential twin towers in Century City were built back in 1963 that were part of the original Century City masterplan as developed by the late Welton Becket, they were designed by I.M. Pei + looks as good, if not better, than many of "today's" contemporary condominium tower abortions like Trump Las Vegas, etc. Since you are a Detroiter, tell me that John Portman's Renaissance Cemter (GM Headquarters) still isn't one of the greatest looking buildings considering its age? I've always admired Portman's early work + Renaissance Center is truly a great example.

May 19, 2007 3:34 PM Posted by detroit1051

I'm going off topic from Las Vegas, but yes, I like Renaissance Center (Ren Cen to the locals). It's ironic that Henry Ford II spearheaded Ren Cen in an attempt to revive downtown Detroit, and now it's owned by GM who bought it for a few cents on the dollar from Highgate in Texas. GM has spent at least the original construction cost in renovations. I hope GM survives for many reasons, one of which is the boost it has given downtown Detroit. In NYC, I've had breakfast several times at Windows on the World in the World Trade Center and also visited my sister in law whose office was on the 57th floor of one of the towers. Fortunately, she changed positions six months before 9/11 and moved out.

May 19, 2007 4:36 PM Posted by Leonard Stern

I have had many, many meals, dozens of times at "Windows on the World" at the [former] WTC. There wasn't a more spectacular view anywhere in NYC. Fortunately for the both of us, it wasn't on 9-11-2001! I actually had dinner there less than one month prior to the terrorist attack on the WTC! Those towers were truly a testament to Yamasaki's "advanced" design concept for a 110 storey buildng since they initially began construction of Tower One in the late 1960's. I believe that Libeskind's concept for a "1776 ft." maximum height proposal as a "symbolic" mistake for the Freedom Tower + fails to address that the U.S., not Dubai, shall remain the true skyscraper capitol of the world. That tower should be built, on principle only, @ 200 plus floors or over 2000 ft. beating The Burj Tower by at least 20 storeys. Now maybe everyone here needs to appreciate + hope that more pojects like LVT continue to be proposed for Las Vegas, regardless of the hurdles that they may encounter, in order to compete architecturally with the rest of the world!

May 19, 2007 6:27 PM Posted by mike_ch

Ooh, a John Portman reference. In 2005 I got to see that hotel in LA with the four levels of amenities and my mind was blown. That hotel now is a bit of a relic and it's obviously not as hot as was intended since there's entire floors where nothing is going on, but jesus it was exciting and a little bit scary at the same time, especially since he built a twisting mass of concrete in earthquake-prone California.

I've never mentioned this because, well, it's off-topic, and I've become a bit intimidated of expressing opinions on architecture anymore lest Leonard call me an uneducated buffoon. :D

May 19, 2007 8:54 PM Posted by Leonard Stern

mike_ch: You are referring to the Westin Bonaventure Hotel in downtown L.A. by John Portman built in the early/mid 1970's. It is STILL considered one of the BEST designed hotels in all of L.A., even after 30 years! I would not DARE to call you an "uneducated buffoon" (even though you are when it comes to architecture, no offense intended), however anyone familiar with Portman's undeniable contibution to the advancement of hospitality architecture, including the introduction of the most effective use of large scale interior atriums (Veldon Simpson, take note at your totally 'unsuccessful' attempt in designing the World's largest enclosed atrium - the Luxor). Thank God MGM/MIRAGE will finally be upgrading the Luxor interior, maybe [they] should give serious consideration by commissioning John Portman for the job!

May 20, 2007 11:57 AM Posted by mike_ch

This is going way off the topic into an architecture discussion, but I enjoy having a conversation with you where we aren't harassing each other.

I don't know much about architecture globally because I'm not very well traveled, having spent almost all my time on the west coast. Although I do know what I like. It's almost all tall buildings, though, probably due to spending so much time at the skyscrapercity forums years ago where people might gripe if a building wasn't at least 600ft. ;P

I always liked the outside of that Westin, I didn't know the inside was so crazy. As an uneducated buffoon my thoughts were "This is neat, although a bit 80s with all the concrete." But oh my lord the twisting concrete paths in the upper levels and those sky lounges felt like they were precariously dangling in the air.

I didn't realize it was like a junior version of Renaissance Center until a little while ago when I looked it up in pictures. Very strange, that building never did much for me.

I'm not sure what your issue is with Luxor, they could have done better with it but it was built on the cheap like all CC hotels were. The interior seems more inspired by Disney's Contemporary than Portman's. Especially with the upper level that holds all the restaurant and entertainment (remember the original Luxor design did not include the theater off the casino in the back.) Unfortunately, the Contemporary is going to be saddled with a Vegas-style timeshare addition, meaning it will look like this in less about 3-4 years.

Leonard, I know you like K.K. and the MGM crew, so I hate to say it but I think MGM's plans for "THEplace" just right out by the front of Luxor will be an uglier development for the Luxor/Mandalay property than that timeshare will be for the Contemporary! We've heard nothing about this tower since it was announced, and I'm hoping MGM will get so much of their fill of condos between CityCenter and their new C-C north landmass that they throw in the towel on that one.

Between the fact that THEplace is another gold window tower with white trim, and that it's placement immediately along the strip sidewalk could ruin views from Foundation Room, I know you can't possibly like it. Do any of your sources know if that one has been flushed or if it's just waiting for CityCenter buildings to sell out before it rears it's ugly head again?

May 20, 2007 2:39 PM Posted by Leonard Stern

mike_ch: I actually could not AGREE WITH YOU MORE regarding THEplace design! Unfortunately, MGM/MIRAGE does not consider the residential component, that WILL eventually be built, as an integration of three exclusive Mandalay Bay high rise offerings, to even be in the same league as ANY of the residential components @ CityCenter. Apples + oranges comparison. Bergman/Walls (his firm, single handedly, has kept the glazing manufacturers of this [outdated] gold reflective curtain wall literally 'in business' ever since the Mirage, when he specified this crap back in 1987!) since then, Bergman has continued to design major high rises here in L.V. specifying GOLD reflective glass which is so overused, outright gaudy + just plain garish by today's standards. Gold reflective glazing is now considered to be aesthetically be totally uninspired + boring. Joel, wake up! In addition to THEplace + the Mirage, BOTH Trump towers, the three already completed Signature Towers @ MGM Grand plus the brand new tower + existing towers reskinning @ the Golden Nugget will also be clad in GOLD REFLECTIVE GLASS as well since Landry commissioned Bergman/Walls to design the major upgrade/renovation to that property as well. Just look at the Mirage, gold reflective glass does not age well. Discoloration is a common problem with gold reflective coating. I'm told that the Trump tower(s) will use a more "sophisticated" 24ct. gold coating process which will not discolor or fade in ten years. B.S., in ten years it will look like the Mirage! Portman's Bonaventure Hotel in downtown L.A. was actually crica mid-1970's (not 1980's) following his very successful "atrium" design for the hotel component of Embarcadero Cenetr in San Francisco. I only wish that the Bonaventure's four cylindrical towers were twice the height. Veldon Simpson screwed up big time with the interior of the Luxor. What an incredible atrium space to work with, instead it is a dull, boring, poorly lit giant uninspired "interior cavity". Had Simpson incorporated Portman's use of colorful dramatic ceiling illumination at each ascending floor level, overhanging planting, etc. the space could have turned out to be so much more animated design-wise as opposed to the "dull" darkened impression one perceives with the current interior design of that atrium. Instead of that stupid vertical "searchlight" atop the crown of the pyramid, [he] could have designed an elegant exposed truss-like natural skylight for the top portion that illuminated at night, still in keeping with the "Giza" pyramid proportions.

May 20, 2007 8:42 PM Posted by Mike E

Leonard, let me just say that while this is off-topic, your insight and general lack of venom here is truly fantastic and educational. I'm enjoying your comments.

I've only admired the Westin Bonaventure from the ceiling of the Standard. I'll definitely have to make my way in next time I'm nearby.

May 21, 2007 8:38 AM Posted by detroit1051

The internet and Wynn Dealer-Union issue:

May 21, 2007 10:11 AM Posted by Leonard Stern

July 30th is "D Day" for Wynn. If you think he has a public relations problem vis-a-vie the dealer's contract + the eventual union demands now, that's the date he personally faces the prospect of some serious federal labor law violations. The NLRB has the power to really mess up Wynn Resorts, permanently + the manner in which [they] operate in the future. If Steve's ranting threats to "fire" any dealer attempting to organize a union at his property are PROVEN to be truthful + accurate, Steve is in BIG trouble as an operator. Wynn might have Nevada state regulators + politicians in his back pocket, but now he's up against the "big boys" that being the feds. From what I understand there exists sufficient evidence in the hands of the NLRB demonstrating Steve's apparent total disregard for the system by allegedly violating federal labor regulations. I'm afraid that Wynn Resorts could turn into a house of cards if the feds start "digging deeper" into the compamny's operating activities + Steve's own blatant disregard for the law in the way he "treats" his employees! Folks, this isn't about making one female dealer cry! I don't think Steve will be smiling like this picture of him depicts taken from Norm's column in todays RJ after the feds are done with him:

I apologize for posting this repulsive photo link, I just couldn't resist...pardon me while I puke.

May 21, 2007 12:20 PM Posted by Tom M

I may be in Las Vegas on June 30th for the first time in 5 years. I will look forward to seeing the new Wynn property. I will mark June 30th down as the day that Leonard is very disappointed with the Feds who do nothing but give Steve a slap on the wrist. We will call it Leonard Stern implosion day :). The countdown starts at 40 days.

June 4, 2007 10:58 PM Posted by Molly


You have no idea.

This is going to be much bigger than what you're suggesting.

This man is going DOWN. So is his stock.

And if I were you guys I would sell immediately.


PS. And before you guys start with the statements that I'm crazy....

Think how mnay times you've said that before and I've been spot on.

EX: I believe Mike C said the union vote would come in less than 30% and I said it was more than double. It was- at 78%.

I got lots more to share but you guys gotta start treating me with a little more respect.

I DO KNOW what's happening and it's not at all good for Wynn.


June 5, 2007 12:45 PM Posted by Brian Fey

Keep wishing and wanting. You told me to sell Wynn 25 points ago! Good thing I didn't listen to you. My best, Wynn will be $125-150 in next 18-24 months. I don't know where this hatred comes from some of you for this man, but the numbers are clear, the business is there. I listened to a CC earlier this week from a Wynn competitor in Macau, even thay said "Wynn is almost completely dominating the regular walk in business" Lastly, people can say how leveraged Wynn is, and all of this, but they are crazy. I don't think anyone on this site, knows how to read a 10-K form. Wynn has the least amount of debt of any of the big four. Wynn has over $800 Million dollars in Cash. This is after it paid out over $600 Million to us shareholders. Wynn has more cash in the bank, than MGM and LVS combined! Go ahead, hate the man, but this is one solid company!

June 5, 2007 1:31 PM Posted by Hunter

Learning how to read the SEC docs, along with simple corporate docs like a balance sheet or income statement, is a very helpful thing in these sorts of discussions, no doubt.

June 5, 2007 2:12 PM Posted by Leonard Stern

Molly, I would be very interested to hear more juicy "goods" on Stevie that you may have anytime, however, I'm sure that you know stuff that I have not been made aware of YET. Hunter, in answer to an earlier question regarding the status/timing of my website launch,, several months ago I retained a full-time researcher + professional private investigator. Thus far she has alreday interviewed hundreds of former (female) Mirage Hotel employees + ex-executives as well. She is also compiling extremely detailed information in connection with the findings from the infamous "Scotland Yard Report" which allegedly represents a pattern in Steve's "questionable" history as a gaming operator. However, we are concentrating on any + all of Wynn's activities as CEO, post 1991, when Mirage Resorts, Inc. became a publicly held corporation. Right now, we are focusing on Wynn's "controversial" method of doing business whereas he single-handedly had a fiduciary obligation to the company's shareholders. The manner in which [he] conducted his ALLEGED "personal" interviews with the more attractive female casino floor employees on a regular basis, including bartenders, etc., etc. during the Mirage's first few years in business will be fully explored + substantiated before I publish anything. Wynn's ALLEGED (I'm required to use this language in any + all allegations that I publicly post at the advise of my "hotshot" attorneys) one-on-one interviews with potential female hires is highly irregular, to say the least, by a CEO of a public company employing thousands + thousands of people.

June 5, 2007 6:13 PM Posted by mike_ch

Yeah, I estimated at the time that about 37% of the employees wanted a union. Considering that not every employee voted in the election and this was before a number of developments came to light, I was off but not grossly so.

By the time all this state legislature garbage went down and Steve was making apologies, I revised my guess and figured the vote would pass.

October 24, 2007 11:55 AM Posted by DARYL CARMER