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===The Mirage and Treasure Island (1990s)===
===The Mirage and Treasure Island (1990s)===
{{See also|The Mirage|Treasure Island Hotel and Casino|Bellagio (resort)}}
{{See also|The Mirage|Treasure Island Hotel and Casino|Bellagio (resort)}}
[[File:Las Vegas (Nevada, USA), The Strip -- 2012 -- 18.jpg|thumb|left|260px|Wynn's first major Strip casino was [[The Mirage]], which was the first time Wynn was personally involved with the design and construction of a casino.]]
[[File:Las Vegas (Nevada, USA), The Strip -- 2012 -- 18.jpg|thumb|left|260px|Wynn's first major Strip casino was [[The Mirage]], which was the first time Wynn was personally involved with the design and construction of a casino.<ref name="swdgreat"/>]]
Wynn's first major Strip casino was [[The Mirage]], which opened in November 1989. The hotel, with its erupting volcano and South Seas theme, ignited a $12 billion building boom on the Strip.<ref name = "PBS">{{cite web|url= http://www.pbs.org/wttw/ceoexchange/episodes/ceo_swynn.html|title = Biography: Stephen A. Wynn|publisher = PBS|accessdate = 11 June 2013}}</ref> While he had previously acquired interests in various existing casinos, the Mirage was the first project in which he was involved in the design and construction of a casino. The $630 million cost to build it was financed largely with [[High-yield debt|junk bond]]s issued by [[Michael Milken]]. It was considered a high-risk venture by the standards then prevailing in Las Vegas because of its high cost and emphasis on luxury. However, it became enormously lucrative and made Wynn a major part of Las Vegas history.{{cn|date=May 2015}}
Wynn's first major casino on the [[Las Vegas Strip]] was [[The Mirage]], which opened in November 1989.<ref name = "PBS">{{cite web|url= http://www.pbs.org/wttw/ceoexchange/episodes/ceo_swynn.html|title = Biography: Stephen A. Wynn|publisher = PBS|accessdate = 11 June 2013}}</ref> It was the first time Wynn was involved with the design and construction of a casino, and he financed the $630 million project largely with [[high-yield debt|high-yield bond]]s issued by [[Michael Milken]]. The resort's high cost and emphasis on luxury meant that it was considered high risk at the time, though the project ended up being enormously lucrative.<ref name="swdgreat"/> The hotel, with its erupting volcano and South Seas theme, ignited a $12 billion building boom on the Strip.<ref name = "PBS"/> Its construction is also considered noteworthy in that Wynn had set a new standard for Vegas resorts, and when it opened The Mirage was the first casino to use security cameras full-time on all table games.<ref>Arnold M. Knightly (February 25, 2007), ''[http://www.casinocitytimes.com/news/article.cfm?contentID=164381 Blink and you'll miss him]'', Las Vegas Review-Journal, Page 1E.</ref> Known for its entertainment, the hotel became the main venue for the ''[[Siegfried & Roy]]'' show in 1990, and in 1993 the hotel hosted the [[Cirque du Soleil]] show ''[[Nouvelle Expérience]]''. Afterwards Wynn decided to invite Cirque to create ''[[Mystère (Cirque du Soleil)|Mystère]]'' for the soon-to-be-built Treasure Island resort next door.<ref name="nextdoor">{{cite web
|url=http://www.reviewjournal.com/lvrj_home/2003/Jun-17-Tue-2003/news/21544998.html

|accessdate=June 28, 2008
In 1991, Golden Nugget, Incorporated was renamed Mirage Resorts, Incorporated.{{cn|date=May 2015}}
|work=[[Las Vegas Review-Journal]]

|date=June 17, 2003
Wynn's next project was [[Treasure Island Hotel and Casino]], built in what had been the north parking lot of the Mirage. It opened in October 1993 at a cost of $450 million. In the front of the resort, facing the Strip, the Battle of Buccaneer Bay was acted out between two full-sized pirate ships. It featured stunt combat, high dives, cannon fire, and one ship sinking beneath the water. Inside the Four-Diamond property is a casino resort with a romantic tropical theme. The [[Cirque du Soleil]] show at the Treasure Island was the first permanent Cirque du Soleil show in Las Vegas.{{cn|date=May 2015}}
|title=`Mystere' worker recalls uncertain times during show's birth
|author=Norm Clarke
}}</ref> After Mirage, Wynn's next project [[Treasure Island Hotel and Casino]] opened in the Mirage's old parking lot in 1993, and overall cost $450 million.<ref name="swdgreat"/> Intended to be family-friendly, pools in front of the casino enacted the Battle of Buccaneer Bay with two full-sized pirate ships, while the inside featured romantic tropical theming. The establishment was the home of the first permanent Cirque du Soleil show in Las Vegas,<ref name="swdgreat"/> and the show went on to be voted nine times as the best production show in the city by the ''[[Las Vegas Review Journal]]'' reader's poll.<ref>[http://bestoflasvegas.com/2010/ LVRJ Readers' Poll]</ref>


===Bellagio and Beau Rivage debuts (1998-1999)===
===Bellagio and Beau Rivage debuts (1998-1999)===

Revision as of 01:53, 30 May 2015

For other people named Steve Wynn, see Steve Wynn (disambiguation).

Steve Wynn
File:Steve Wynn Portrait.jpg
Steve Wynn Portrait
Born
Stephen Alan Weinberg

(1942-01-27) January 27, 1942 (age 82)
New Haven, Connecticut, U.S.
CitizenshipAmerican[1] Monaco[2]
Alma materB.A. University of Pennsylvania
OccupationCEO of Wynn Resorts Limited
Spouse(s)Elaine Wynn (divorced)
Andrea Hissom
Childrenwith Elaine:
• Kevyn Wynn
• Gillian Wynn

Stephen Alan "Steve" Wynn (born January 27, 1942) is an American business magnate. He played a pivotal role in the 1990s resurgence and expansion of the Las Vegas Strip. His companies refurbished or built what are now widely recognized resorts in Las Vegas, including the Golden Nugget, The Mirage, Treasure Island, Bellagio, Wynn, and Encore.

Now, as Chairman of the Board and Chief Executive Officer of Wynn Resorts, Limited, Wynn has developed Wynn Las Vegas, which opened on April 28, 2005; Wynn Macau, which opened in September 2006; Encore Las Vegas, which opened December 22, 2008; and Encore at Wynn Macau, which opened on April 21, 2010. As of June 2014, Wynn is the 428th richest man in the world with a net worth of $4 billion.[1] In November 2014, Wynn ranked 17th on Harvard Business Review's list of 100 best-performing CEOs in the world. The study noted his founding position in Wynn Resorts and his market capitalization change of $22 billion, and he secured a total industry adjusted shareholder return of 1,944% and a country adjusted total shareholder return of 2,164%.[3]

Early life and education

Steve Wynn was born Stephen Alan Weinberg in New Haven, Connecticut on January 27, 1942. His father, Michael, who ran a string of bingo parlors in the eastern United States, changed the family's last name in 1946 from "Weinberg" to "Wynn" when Steve was six months old[4] "to avoid anti-Jewish discrimination".[5] Wynn was raised in Utica, New York, and graduated from The Manlius School, a private boys' school east of Syracuse, New York, in 1959.[6]

Steve Wynn studied topics such as cultural anthropology[4] at the University of Pennsylvania, where he was a member of the Sigma Alpha Mu fraternity.[6] He was 21 when his father died of heart problems, and shortly afterwards he graduated from the University of Pennsylvania with a Bachelor of Arts degree in english literature.[4] As his father had left $350,000 of gaming debts,[4] Wynn relinquished a position at Yale Law School to take charge of his family's business in Waysons Corner, Maryland, working the bingo parlors himself. Within a year he had expanded the company.[6]

Career

Frontier and the Golden Nugget (1960s-1980s)

See also: New Frontier Hotel and Casino, Golden Nugget Las Vegas, and Golden Nugget Atlantic City (1980-1987)

Wynn and and his young family moved in 1967 to Las Vegas, where his success with his family's business allowed him to purchase a small stake in the Frontier Hotel and Casino.[6] That year he met E. Parry Thomas, dubbed by Vanity Fair as "the most influential banker in Las Vegas." Thomas was the president of the Bank of Las Vegas, which was the only bank at the time that would extend loans to Las Vegas casinos,[6] and Thomas helped finance several of Wynn's early land deals.[6] Starting in 1968 Wynn also spent four years operating a wine and liquor importing company he had purchased.[4]

In 1971 Wynn managed to parlay his profits from a land deal involving Howard Hughes and Caesars Palace into a controlling interest in the Golden Nugget Las Vegas, a landmark downtown casino and one of the oldest casinos in the city.[7] Wynn renovated, revamped and expanded the Golden Nugget from a gambling hall to a resort hotel and casino with enormous success, in the process attracting a new upscale clientele to downtown Las Vegas.[8] His company stake increased so that, in 1973, he became the majority shareholder, and the youngest casino owner in Las Vegas.[9] In 1977 he opened the Golden Nugget's first hotel tower, followed by several others. Frank Sinatra was a periodic headliner at the Golden Nugget,[8] and Wynn has since maintained a relationship with Sinatra family, even naming a restaurant at Encore “Sinatra”.[10]

In 1980 Wynn began construction on the Golden Nugget Atlantic City in Atlantic City, New Jersey. It was Atlantic City's first casino "built from scratch,"[6] first and only "locals casino", and the city's sixth casino after the city legalized gambling in 1976. Joel Bergman, who designed Wynn's other resorts, designed the Golden Nugget. Though at its opening it was the second smallest casino in the city, by 1983 it was the city's top earning casino.[11] The Atlantic City Golden Nugget was sold by Wynn in 1987 for $440 million.[6]

The Mirage and Treasure Island (1990s)

See also: The Mirage, Treasure Island Hotel and Casino, and Bellagio (resort)
Wynn's first major Strip casino was The Mirage, which was the first time Wynn was personally involved with the design and construction of a casino.[4]

Wynn's first major casino on the Las Vegas Strip was The Mirage, which opened in November 1989.[12] It was the first time Wynn was involved with the design and construction of a casino, and he financed the $630 million project largely with high-yield bonds issued by Michael Milken. The resort's high cost and emphasis on luxury meant that it was considered high risk at the time, though the project ended up being enormously lucrative.[4] The hotel, with its erupting volcano and South Seas theme, ignited a $12 billion building boom on the Strip.[12] Its construction is also considered noteworthy in that Wynn had set a new standard for Vegas resorts, and when it opened The Mirage was the first casino to use security cameras full-time on all table games.[13] Known for its entertainment, the hotel became the main venue for the Siegfried & Roy show in 1990, and in 1993 the hotel hosted the Cirque du Soleil show Nouvelle Expérience. Afterwards Wynn decided to invite Cirque to create Mystère for the soon-to-be-built Treasure Island resort next door.[14] After Mirage, Wynn's next project Treasure Island Hotel and Casino opened in the Mirage's old parking lot in 1993, and overall cost $450 million.[4] Intended to be family-friendly, pools in front of the casino enacted the Battle of Buccaneer Bay with two full-sized pirate ships, while the inside featured romantic tropical theming. The establishment was the home of the first permanent Cirque du Soleil show in Las Vegas,[4] and the show went on to be voted nine times as the best production show in the city by the Las Vegas Review Journal reader's poll.[15]

Bellagio and Beau Rivage debuts (1998-1999)

See also: Bellagio (resort) and Beau Rivage (Mississippi)

In October 1998, Wynn opened the even more opulent Bellagio, a $1.6 billion resort considered among the world’s most spectacular hotels.[16] The architect was Jon Jerde of The Jerde Partnerships. When built, Bellagio was the most expensive hotel in the world. Today, visitors line the street in front of the hotel to watch the “Fountains of Bellagio”—shooting fountains choreographed to music that “dance” on the hotel’s 8.5 acre man-made lake. The Bellagio is credited with starting a new spree of luxurious developments in Las Vegas.[17] Among these developments include The Venetian, Mandalay Bay, and Paris Las Vegas.

Wynn's company Mirage Resorts oversaw the construction of the Bellagio, which at the time was the most expensive hotel in the world. Like Wynn's previous resorts, the Bellagio features an extensive water show on the Strip.

In 1999, Wynn brought Mirage Resorts’ style to Biloxi, Mississippi, where he oversaw development of the 1,835-room Beau Rivage. Blending Mediterranean beauty with Southern hospitality, the resort was part of a building boom that established Biloxi as a regional tourism center along the Mississippi Gulf Coast. Beau Rivage was originally the name he wanted to give to the Bellagio but after Wynn vacationed in Italy, he decided Bellagio, after the Italian region of Bellagio, was the better name for the hotel.[18]

Wynn Las Vegas and Macau (2000-2007)

See also: Wynn Resorts, Wynn Las Vegas, and Wynn Macau

Mirage Resorts was sold to MGM Grand Inc. for $6.6 billion ($21 a share) in June 2000 to form MGM Mirage. Five weeks before the deal was closed (April 27, 2000) Wynn purchased the Desert Inn for $270 million. He closed the Inn in only 18 weeks, and with the money he made on that deal, and with his ability to secure ever-greater financing, Wynn took Wynn Resorts Limited public in 2002. Wynn became a billionaire in 2004, when his net worth doubled to $1.3 billion.[19] On April 28, 2005 he opened his most expensive resort to that date, the Wynn Las Vegas, on the site of the former Desert Inn.

Wynn successfully bid for one of three gaming concessions that were opened for tender in Macau, a Special Administrative Region (SAR) of China, which has a long history of gaming and is the largest gaming market in the world, having surpassed Las Vegas in 2006.[20] This property, known as Wynn Macau, opened on September 5, 2006. A year later Wynn Macau underwent a significant expansion, increasing retail amenities, food and beverage options, and gaming space.[21] In 2008 Wynn Macau became the fifth Asian hotel to receive the Mobil Five-Star award, with Wynn accepting the award on behalf of Wynn Macau. As of 2014 Wynn Macau includes over 265,000 square feet of casino space, as well as two luxury towers with approximately 1,000 rooms and suites.[22]

Encore hotels and other projects (2008-present)

Main articles: Encore Las Vegas, Wynn Palace, and Wynn Everett (casino)

In the summer of 2008, hiring began for Encore Las Vegas, the newest in Wynn's collection of resorts (the tower of Encore is modeled after the Wynn Las Vegas tower, and in fact, they share the same "property" though they are separate hotels). Encore opened on December 22, 2008. As of December 31, 2012, Wynn and Encore Las Vegas employed approximately 9,000 full-time employees.[23] Encore at Wynn Macau, an expansion of Wynn Macau similar to the expansion of the Las Vegas property, opened on April 21, 2010. Construction on Wynn Palace on the Cotai Strip in Macau began in early 2013.

In September 2014, Wynn was awarded the license to build a casino in the eastern Massachusetts city of Everett, near downtown Boston.[24] Wynn’s casino proposition had been selected over a proposition by Mohegan Sun, which would have built a casino in nearby Revere. Wynn Resorts hailed the project as a “great invigorator of economic development and job creation,” and announced the project would entail around 1,700 construction jobs and around 3,300 full-time jobs, with salary averaging at $56,000. [24] Wynn Resorts also stated they were organizing other benefits for the Wynn Everett project, including a $30 million "community enhancement bonus," $20 million in yearly payments for real estate taxes, $5 million in yearly payments for police and fire services, and $250,000 per year for the Everett Citizens Foundation.[25]

Art collection

Wynn is a collector of fine art, and has bought numerous works by artists such as Paul Cézanne, Paul Gauguin, Vincent van Gogh, Julian Hatton, Édouard Manet, Henri Matisse, Pablo Picasso, Andy Warhol, and Johannes Vermeer.
Close to the Wizard of Oz by Julian Hatton.[26]

Wynn is known for amassing a large collection of fine art, often placing the pieces in his various casinos and hotels. In 2004, Wynn purchased Johannes Vermeer’s “Young Woman Seated at a Virginal" at a Sotheby’s auction for $30 million. With the purchase, he became the first art collector to purchase a Vermeer painting in over 80 years.[27] It would be one of only two Vermeers still in private hands (the other is owned by Queen Elizabeth II). Wynn later sold the painting to the Leiden Collection owned by Thomas Kaplan for the same price.[28]

In 2006, Wynn acquired J. M. W. Turner’s “Giudecca, La Donna Della Salute and San Giorgio” for $35.8 million via an anonymous telephone auction. Although Wynn did not officially identify himself as the buyer, his identity was confirmed by two people acquainted with the transaction. Wynn purchased the painting from the St. Francis of Assisi Foundation, a White Plains-based nonprofit organization that supports Capuchin priests on their missionary trips.[29]

Steve Wynn's private art collection with specific commentary about his paintings by Claude Monet are highlighted in the 2008 film Monet's Palate[30] with Meryl Streep and distributed by American Public Television. Many of the collection's pieces were on display at the Bellagio. The collection was on display at the Nevada Museum of Art in Reno while the Wynn Las Vegas was being constructed and was installed in the resort shortly before it was opened. The Wynn Las Vegas gallery, which had charged an entrance fee, closed shortly after the start of 2006. The artwork from the former gallery is now scattered around the resort. Although the artwork is owned personally by Wynn, Wynn Resorts pays an annual lease of $1. As part of the lease agreement, insurance and security are the responsibility of the company.

In 2009 he spent $33.2 million on Rembrandt's "Man with His Arms Akimbo," the auction record for the artist.[31]

Under the direction of Steve Wynn, Wynn Resorts acquired Jeff Koons’s "Tulips" at auction in November 2012 for approximately $33.6 million.[32] In May 2014, Wynn acquired "PopeyeP" from the same artist for over $28,000,000, putting the work on display at Wynn Las Vegas.[33]

Le Rêve

The centerpiece of the collection is Le Rêve, the Picasso portrait that was the working name of the resort project. Wynn purchased the painting from an anonymous collector in a private sale in 2001.[34] In 2006 he reportedly was to sell it to Steven A. Cohen for $139 million, which would at that time have been the highest price paid for any piece of art. However, he put his elbow through the canvas while showing it to a group of guests—including the screenwriter Nora Ephron and her husband Nick Pileggi, the broadcaster Barbara Walters, the art dealer Serge Sorokko and his wife, the model Tatiana Sorokko, the New York socialite Louise Grunwald, and the lawyer David Boies and his wife, Mary.[35]

This canceled the sale, and after a $90,000 repair, the painting was estimated to be worth $85 million. Wynn sued his insurance company over the $54 million difference with the virtual selling price, possibly exceeding his own buying price. The case was settled out of court in April 2007.[36][37][38][39]

In 2013, "Le Reve" was sold to Steven A. Cohen for $155 million.[40]

Personal life

Wynn married Elaine Farrell Pascal in 1963. They divorced in 1986, remarried in 1991, and divorced again in 2010.[41] Elaine Wynn was a director of the company's board for 13 years, ending in 2015.[42] Wynn once said he bought the Desert Inn casino, the site of his Wynn Las Vegas, as a birthday gift for his wife.[43] Steve Wynn currently resides in a private villa at Wynn Las Vegas, while Elaine Wynn resides in the couple's mansion inside Southern Highlands Golf Club.[44] They have two daughters, Kevyn and Gillian.[45] Kevyn was kidnapped in 1993[46] and Wynn paid $1.45 million in ransom for her safe return. The kidnappers were apprehended when one attempted to buy a Ferrari in Newport Beach, California, with cash. Kevyn was found unharmed several hours later. Kevyn and Gillian Wynn are mothers who engage in charity work.[45]

On April 30, 2011, Wynn married Andrea Danenza Hissom in a ceremony at the Wynn Las Vegas. She is the mother of model and recording artist Nick Hissom.[47][48][49]

Steve Wynn suffers from the degenerative eye disease retinitis pigmentosa which he was diagnosed with in 1971.[50]

In 2010, Wynn switched to a vegan diet after watching the documentary Eating by Mike Anderson.[51][52][53] According to Wynn, his vegan diet was also inspired by a guest on his yacht in St. Tropez, who discussed the environmental and health consequences of eating meat. After becoming a vegan, Wynn announced that he would add animal-free menus to all his restaurants.[54]

In December 2010, Prince Albert II of Monaco bestowed Monegasque citizenship to Wynn. This was unusual since a prerequisite of Monegasque citizenship is to reside there for at least ten continuous years and contribute in some major way, and Wynn has never resided there. According to the Las Vegas Sun, Wynn was given the citizenship when he agreed to serve as outside director in the Monaco QD International Hotels and Resorts Management, which is a joint venture between the governments of Monaco and Qatar. The organization buys and manages hotels in Europe, the Middle East and North America.

Political views

Wynn has previously described himself as a Democrat, and has supported Nevada Senator Harry Reid. However, over the last few years, Wynn has been very critical of President Barack Obama, whom he originally supported and voted for in the 2008 Election. He has accused Obama of being a job killer rather than a job creator, and has stated that he has created friction between him and his employees with the use of class warfare tactics. He has also stated that Obama has been the biggest "wet blanket" to business in his lifetime.[55]

Wynn Resorts contributed $200,000 to the Republican Governors Association in the winter of 2013. Wynn, his wife and his company have all contributed to the RGA in recent years, giving $350,000 in 2011.[56]

Accolades

In 2005, the Association of Travel Marketing Executives awarded Steve Wynn the ATLAS Lifetime Achievement Award for his innovation in building resorts in Las Vegas. In May 2006, Time magazine included Wynn as one of the World's 100 Most Influential People. Wynn was appointed to the Board of Trustees of the John F. Kennedy Center for the Performing Arts by President George W. Bush on October 30, 2006.[57]

In November 2006, Wynn was inducted into the American Gaming Association Hall of Fame. Wynn was also the recipient of an honorary doctorate degree at the University of Pennsylvania’s 250th Commencement Ceremony in recognition of his transformative vision of Las Vegas in 2006 and has since received honorary doctoral degrees from the University of Nevada, Las Vegas; Sierra Nevada College; The Culinary Institute of America; and Johnson & Wales University in Providence, Rhode Island.

Forbes magazine named him a “Captain of Capitalism” in 2007. Wynn was named to Institutional Investor's Best CEOs list in the All-America Executive Team Survey from 2008 through 2011.[58] In 2009, Wynn received the Manfred Steinfeld Humanitarian Award at the 22nd Annual Platinum Circle Awards. In July 2009, a segment on Wynn was aired on the CBS News series 60 Minutes.

In March 2011, Barron's named Steve Wynn one of the 30 “World’s Best CEOs” while Fortune simultaneously recognized Wynn Resorts as one of the “World’s Most Admired Companies.”[59] In September 2012, Wynn Resorts was the only Nevada company on Fortune Magazine's List of "100 Fastest-Growing Companies".[60]

In February 2013, an independent study in the Las Vegas Review-Journal named Wynn Resorts as the Best Place to Work among large companies in Southern Nevada.[61] The 12th Annual Bristol Associates and Spectrum Gaming Group Executive Satisfaction Survey Ranked Wynn Resorts as the No. 1 Employer of Choice.[62]

In November 2014, Wynn ranked 17th on Harvard Business Review’s list of 100 best-performing CEOs in the world. The study noted his founding position in Wynn Resorts and his market capitalization change of $22 billion, and he secured a total industry adjusted shareholder return of 1,944% and a country adjusted total shareholder return of 2,164%.[3]

In 1991, Dennis Gomes, the president of Wynn's Golden Nugget left his position to join Donald Trump's Trump Taj Mahal in Atlantic City, New Jersey, receiving a $1 million bonus in lieu of equity. Wynn filed suit against Trump and Gomes for breach of contract, as Gomes was contracted to work at the Nugget until 1992. Gomes settled in 1994.[63][64] Also in 1991, Gomes alleged in a countersuit that Wynn used harsh language against Gomes, but Wynn's representatives denied the allegations, implying that they were attempt to refocus the lawsuit from Gomes to Wynn.[65]

In 1997 Wynn sued Barricade Books for defamation over the catalogue description of an unauthorized biography Running Scared by John L. Smith.[66] Wynn was initially awarded $3.2 million, forcing Barricade, which is known for publishing works such as The Anarchist Cookbook, into bankruptcy. In 2001 the ruling was thrown out by the Nevada State Supereme Court on a judge's error.[67] Retrial was scheduled for 2004, only for the issue to be settled between Wynn and New York publisher Lyle Stuart out of court in a confidential agreement, and the case dismissed.[68]

In a legal battle over an attempt by Wynn-controlled Mirage to build a casino in Atlantic City, NJ, Donald Trump claimed in a lawsuit that Wynn used a private investigator as a double agent to secretly record conversations with Trump. The investigator, Louis Rodriguez, a former Los Angeles Police Officer and investigator for the IRS, claimed he had a change of heart because he felt that Trump used his efforts "in an immoral and unethical manner to cause financial harm" to Wynn and Mirage and thus turned "whistleblower." Wynn settled the lawsuit in 2000 and befriended Trump, who attended Wynn's wedding in 2011.[69][70]

Since 2008, Wynn has been in a dispute with Girls Gone Wild producer Joe Francis. In 2011, a Nevada district attorney prosecuted Francis for writing a bad check to cover a $2 million gambling debt owed to Wynn, but the judge dismissed the case for falling outside the six month statute of limitations.[71][72] Wynn collected the debt in a separate civil case.[71] In response to the collection, Francis stated that Wynn threatened to kill him, prompting Wynn to file suit for defamation against Francis.[73] In February 2012, Clark County, Nevada judge Mark Denton ruled that Francis damaged the reputation of Wynn and awarded Wynn $7.5 million in damages.[74] In September 2012, after Francis repeated the alleged threat on television and Wynn added a second defamation claim, a jury awarded Wynn $40 million in compensatory and punitive damages, much more than the original $12 million Wynn's party had demanded.[75] The judgement was amended to $19 million, after Francis failed to prove he could pay the original amount.[76]

In January 2012, Wynn's former business partner Kazuo Okada filed suit to gain access to company documents related to Wynn's pledge to donate $135 million to the University of Macau Development Foundation.[77] Wynn later accused Okada's company, Aruze, Inc., of violating the Foreign Corrupt Practices Act, leading to a Department of Justice probe into Aruze's gifts of hotel rooms and other expenses to Philippine, South Korean, and Japanese gaming officials.[78][79] U.S.-based Aruze, Inc. is subject to the FCPA.[80] In a March 2013 U.S. Securities and Exchange Commission (SEC) filing, Wynn noted that while the Okada dispute could cut into Wynn's profits, beyond an "informal" SEC inquiry into the Macau donation, there was no formal investigation underway.[81] On July 8, 2013, the SEC announced that its investigation into the Macau donations was concluded and it would not pursue any enforcement action against Wynn or Wynn Resorts.[82]

In late 2014, Wynn sued hedge fund manager James Chanos for slander after Chanos, at a Berkeley event, allegedly said Wynn violated the Foreign Corrupt Practices Act. In the lawsuit, Wynn maintains that the SEC, gaming regulators in Nevada and Massachusetts, and other government agencies had "thoroughly investigated" his resorts and found no evidence of a violation.[83]

References

  1. ^ a b c Steve Wynn profile – Forbes, Forbes.com. Retrieved March 2012. Cite error: The named reference "Forbes Billionaires" was defined multiple times with different content (see the help page).
  2. ^ Monaco Citizenship
  3. ^ a b "The Best-Performing CEOs in the World". Harvard Business Review. Retrieved January 19, 2014. {{cite web}}: Italic or bold markup not allowed in: |publisher= (help)
  4. ^ a b c d e f g h i "Steve Wynn". American Greatness. November 1, 2010. Retrieved May 27, 2015. Cite error: The named reference "swdgreat" was defined multiple times with different content (see the help page).
  5. ^ "Steve Wynn Raising the stakes in Vegas". The Times. London. January 11, 2009. Retrieved May 24, 2010.
  6. ^ a b c d e f g h Munk, Nina (2005). "Steve Wynn's Biggest Gamble". Vanity Fair. Retrieved May 17, 2015.
  7. ^ The First 100 Persons Who Shaped Southern Nevada. 1st100.com.
  8. ^ a b Stephen Holden (May 16, 1998). "Frank Sinatra Dies at 82; Matchless Stylist of Pop". The New York Times. Retrieved July 30, 2013.
  9. ^ "Steve Wynn's Vegas Vision Turned Into Reality".
  10. ^ "New Wynn resort, Encore, opens in Vegas with Sinatra restaurant". The Pittsburgh Post-Gazette. January 8, 2009. Retrieved July 21, 2013.
  11. ^ "AC History - Casino Connection Atlantic City". Retrieved December 21, 2014.
  12. ^ a b "Biography: Stephen A. Wynn". PBS. Retrieved June 11, 2013.
  13. ^ Arnold M. Knightly (February 25, 2007), Blink and you'll miss him, Las Vegas Review-Journal, Page 1E.
  14. ^ Norm Clarke (June 17, 2003). "`Mystere' worker recalls uncertain times during show's birth". Las Vegas Review-Journal. Retrieved June 28, 2008.
  15. ^ LVRJ Readers' Poll
  16. ^ "The spectacular fountain-fed pool at Bellagio". Los Angeles Times. Retrieved June 11, 2013.
  17. ^ "Big, Bigger, and Bellagio" (PDF). Inland Architecture Magazine. Retrieved June 11, 2013.
  18. ^ "Mirage Resorts renames newest Las Vegas resort Bellagio". Business Wire. Retrieved June 11, 2013.
  19. ^ My Way Finance[dead link]
  20. ^ Wiseman, Paul. (January 22, 2007) Macau leads Las Vegas in gambling –. Usatoday.com.
  21. ^ "Wynn Macau Corporate Profile". Wynn Macau, Limited. Retrieved January 19, 2015.
  22. ^ "Corporate Profile". Wynn Macau, Limited. 2014. Retrieved January 19, 2015.
  23. ^ "Wynn Resorts LTD., Form 10-K, Filing Date March 1, 2013". secdatabase.com. Retrieved July 25, 2013.
  24. ^ a b "Wynn's $1.6B resort in Everett wins casino license". WCVB 5. Retrieved January 19, 2015.
  25. ^ "Wynn in Everett" (PDF). Wynn Resorts. Retrieved January 19, 2015.
  26. ^ "http://wn.com/Steve_Wynn_%28entrepreneur%29". wn.com. 2010. Retrieved June 22, 2011. Wynn owns an extensive art collection including paintings by Paul Cézanne, Paul Gauguin, Vincent van Gogh, Julian Hatton... {{cite news}}: External link in |title= (help)
  27. ^ "7 of Steve Wynn's Most Notable Art Purchases". Las Vegas Sun. July 9, 2011. Retrieved January 19, 2015. {{cite web}}: Italic or bold markup not allowed in: |publisher= (help)
  28. ^ Culture grrl blog "Virginal Vermeer: Sold by Wynn, Now at the Met". Retrieved May 5, 2013. {{cite web}}: Check |url= value (help)
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