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The rise of Las Vegas businessman Steve Wynn



Steve Wynn’s real name is Stephen Allan Wynn and he is famous for creating and running some of the most luxurious casinos and hotels in the world. His life was not spared from controversy and in recent years, he was involved in several scandals, which forced him to step down as CEO of Wynn Resorts.

Two decades of excellence in Las Vegas

The Steve Wynn success story started in the late 60s when his family moved to Las Vegas where he purchased a stake in the Frontier Hotel and Casino. This was his first foray in the competitive world of gambling, at the time when Las Vegas was still within the grasp of the crime syndicates. From 1967 to 1971 his business grew and Steve was able to secure a controlling interest in the Golden Nugget Las Vegas. He invested heavily in the new casino and in 1977 he opened the first hotel tower.

Among the famous guests that frequently visited his casino was Frank Sinatra in whose honor, a restaurant at Encore was named. In the 80s, Wynn expanded his reach to the East coast and constructed the Golden Nugget Atlantic City casino. Although Steve Wynn has made his fortune with land-based casino’s he also has some business interests online. You can read some slot site reviews here before playing online. He owned this hotel for nearly a decade, selling it in 1987 for an impressive $440 million. Some of the money was used to buy the Nevada club casino two years later.

From the Mirage to the Bellagio and Beau Rivage

Wynn got fully engaged in the construction of the Mirage in 1989, as his first casino on the Las Vegas Strip. While he continued to invest massively in this casino project, he opened a new establishment called the Treasure Island Hotel and Casino. These were his top projects in the early 90s and a significant source of revenue throughout the entire decade. In 1998, Wynn began the construction of the Bellagio, in Las Vegas and the Beau Rivage in Biloxi Mississippi. These are even today some of the most iconic and visited casinos in the world.

In early 2007, Wynn decided that it is time to expand beyond national borders and Macau was the obvious destination. The Wynn Macau casino was created and subsequently expanded, to accommodate the increasing number of tourists and gamblers visiting the city. More than a decade after it officially opened its doors to an international audience, the casino continues to act as a magnet for players.

Scandals overshadow the Wynn legacy

Since 2008, Wynn has opened several new casinos and hotels in Las Vegas, including the glamorous Encore. A sister casino opened its doors in Macau just a few years later and work on the Wynn Palace started on the Cotai Strip. Steve Wynn was involved in a sex scandal that hurt his reputation and ended up hurting his business directly. In February 2018, he decided to step down as CEO of Wynn Resorts and focus on his hobby as an art collector.

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