Wynn Las Vegas announces 2023 Concours event

Tickets are now on sale for Concours at Wynn Las Vegas, an annual automotive experience returning to the award-winning resort from Friday, 10 November through Sunday, 12 November. Debuting at Wynn in 2022, this year's Concours will feature two main events - a Saturday exhibition on the greens of Wynn Golf Club and the Tour d'Elegance, a motorcade down The Las Vegas Strip. The 2023 event has expanded to include four categories of vehicle display at Saturday's exhibition: Concours, Hypercar, Electric, and Concept and Culture.

"We look forward to building on last year's inaugural event, and creating even more differentiated experiences for our guests," said Steve Weitman, President of Wynn Las Vegas. "We expect this year's Concours to be an exceptional display of craftsmanship and innovation, with new categories that showcase something for everyone."

This year's lineup will include:

- The Concours exhibition on Saturday, Nov. 11, featuring a collection of more than 250 unique automobiles from around the world and former race car driver and notable personality Justin Bell as the event emcee. The exhibition will showcase four judged and non-judged pillars for vehicle entry and display: Concours, Hypercar, Electric, and Concept and Culture. The Hypercar category will showcase ultra-elite hypercars with sleek and seductive design from the world's most sought-after manufacturers, while the Electric category will highlight the latest and greatest in energy-efficient offerings. The Concept and Culture category is intended to highlight vehicles that are limited edition, as well as famous vehicles associated with cultural figures ranging from singers, actors and iconic Las Vegas personalities. The remaining Concours category will be the only judged class, and feature exceptional pre- and post-war automobiles. The exhibition concludes with an esteemed panel of judges presenting Best of Show winners with the coveted Helene Award statuette. Additional award categories such as "Most Fashionable" and "Spirit of Wynn" have been added for 2023, and will be presented to standouts that don't claim the Best of Show honors. - The Tour d'Elegance motorcade will close out the weekend on Sunday, Nov. 12. The morning procession down The Las Vegas Strip will feature a mix of winning vehicles and other examples of automotive design, all proudly driven by their owners.

Available ticket types for Concours include:

- General Admission, consisting of access to Saturday's exhibition of rare and vintage vehicles. - Hosted Bar, combining admission to Saturday's exhibition and entry to the fairway for cocktails and sweeping views. - Chairman's VIP, a premium experience that features entry to Saturday's exhibition, along with an open bar and an array of chef stations underneath Wynn's Event Pavilion.

Reade more >>

Ian Williams named President of Wynn Interactive

WynnBet, the premier online sports betting and casino app from the global leader in luxury hospitality, Wynn Resorts, announced on Wednesday it has named Ian Williams as President of Wynn Interactive. He will oversee Wynn Interactive's global day-to-day operations.

A 20-year gaming industry veteran, Williams joined WynnBet in October as Chief Operating Officer. Prior to joining WynnBet, Williams served as President of Online Gaming for Churchill Downs Inc. and contributed to Churchill Downs Interactive's division developing into one of the most profitable online wagering business in the U.S. Williams helped grow Churchill Downs' horse racing advance-deposit wagering business (Twinspires.com & Betamerica.com) during his five-year tenure, profitably delivering record handle in every year with the company. He was also responsible for spearheading the initial development of Churchill Downs real money sports and iGaming businesses.

A graduate of Leeds Metropolitan University, Williams has 17 years of experience as a C-level executive in the United States, with stops in Canada and the United Kingdom. He also founded Thistle Gaming, a company distributing real-time sports data feeds and virtual racing to the leading bookmakers in Europe and Asia.

Reade more >>

Wynn Resorts CEO updates safety policies

Wynn Resorts CEO Matt Maddox announces safety program and policy updates related to the COVID-19 pandemic.

Statement from Matt Maddox, CEO of Wynn Resorts:

It has been just a week since we announced operational changes designed to keep our guests and employees safe during this global pandemic. In the news, we read of families painfully affected by the coronavirus, and so we quickly instituted paid sick days for any employees that may require physician-mandated quarantine.

We've further reflected on the responsibility that businesses such as Wynn Resorts must play during a time like this. In combination with what my team has learned through our meetings with our public health consultants and officials, I've recognized we need to temporarily implement fundamental changes to our business.

Every scientific and health authority I've spoken to has focused on the need for social distancing, which is to say, creating sufficient space between each of us to impede the spread of the coronavirus. This isn't simply a good idea; it is essential, and not forever, but certainly for now.

Consequently, Wynn Resorts, beginning throughout this weekend, will temporarily cancel all large entertainment gatherings. This includes our buffets, nightclubs and theaters in Las Vegas and Boston. We are going to continue to pay our full-time employees that work in these spaces. We will monitor the situation to determine any additional action that may be required.

In addition, we will be screening for temperature using non-invasive thermal cameras at all our entrances. In our gaming areas and dining establishments, we will create appropriate distancing between guests at gaming devices and dining tables, while still delivering the service levels our guests expect and deserve.

I want to thank our employees and business partners for their willingness to join us in making such challenging decisions so quickly.

Reade more >>

Las Vegas: powerful exit fees for three casinos

CARSON CITY, Nevada -- It would cost three casinos a bundle to leave the NV Energy, 3 News reported.

Las Vegas Sands, Wynn Las Vegas and MGM wish to leave the NV Energy retail electric service and seek alternative power suppliers, the report said.

Nevada Public Utilities Commission have recommended that the casinos pay fees of at least $126.5 million and other costs to do so, so other customers are not saddled with huge bill increases 3 News reported.

Reade more >>

Wynn Resorts releases second quarter 2015 results

Wynn Resorts, Limited today reported financial results for the second quarter ended June 30, 2015.

Net revenues for the second quarter of 2015 were $1,040.5 million, compared to $1,412.1 million in the second quarter of 2014. The decline was the result of a 35.8% net revenue decrease from our Macau Operations and a 6.2% decrease in net revenues from our Las Vegas Operations. Adjusted property EBITDA (1) was $295.4 million for the second quarter of 2015, a 36.8% decrease from $467.4 million in the second quarter of 2014.

On a US GAAP basis, net income attributable to Wynn Resorts, Limited for the second quarter of 2015 was $56.5 million, or $0.56 per diluted share, compared to net income attributable to Wynn Resorts, Limited of $203.9 million, or $2.00 per diluted share, in the second quarter of 2014.

Adjusted net income attributable to Wynn Resorts, Limited (2) in the second quarter of 2015 was $75.0 million, or $0.74 per diluted share (adjusted EPS), compared to an adjusted net income attributable to Wynn Resorts, Limited of $215.1 million, or $2.11 per diluted share, in the second quarter of 2014.

Wynn Resorts, Limited also announced today that the Company has approved a cash dividend of $0.50 per common share. This dividend will be payable on August 20, 2015, to stockholders of record on August 11, 2015.

Reade more >>

Singapore casinos, $6 billion in gaming revenue in 2013. Market still trails Las Vegas Strip

LAS VEGAS - To use an Olympics reference, Las Vegas won the silver medal for the second straight year.

Singapore’s two casinos experienced a 3.8 percent increase in gaming revenues during 2013, but it wasn’t enough to carry the island nation past the Strip.

The Marina Bay Sands, which is owned by Las Vegas Sands Corp., and Genting Group’s Resorts World Sentosa produced a combined $6.077 billion in gaming revenues during the year, which fell short of the Strip’s $6.5 billion in 2013.

Both markets were far behind Macau, the world’s largest gaming destination, which produced a record $45.2 billion in gaming revenues last year.

Many analysts predicted Singapore’s two casinos, which opened in 2010, would eventually pass the Strip as the world’s No. 2 gaming market.

Union Gaming Group managing director Grant Govertsen, who is based in Macau, said that event might not happen. Govertsen said Singapore’s mass-market business has slowed while high-end play continues to grow.

“Generally speaking, the mass-market story in Singapore has now entered into a flattish period at best,” Govertsen said. “The VIP story is a bit rosier, although we don’t think VIP (play) in Singapore is likely to be as robust as it is in Macau.”

Govertsen added that Singapore, which collected $5.85 billion in gaming revenues in 2012, would probably retain the world’s No. 3 ranking, at least until casinos are approved for Japan.

“The good news for Singapore is that we don’t view any other Asian markets threatening its hold as the No. 2 gross-gaming revenue market in Asia,” Govertsen said.

Marina Bay Sands collected $3.135 billion of the 2013 total, which was a 6.6 percent increase over 2012. Resorts World’s gaming revenue take was $2.942 billion, a 1 percent increase.

Govertsen said the Genting development, which includes a Universal Studios theme park attraction, is most affected by reduced mass-market action.

“We think growth is likely to remain anemic in a best-case scenario going forward given that the Singapore local’s market is fully penetrated and the government continues to tighten the reins on this segment,” Govertsen said.

Malaysia-based Genting, which is planning to build the $2 billion-to-$7 billion Resorts World Las Vegas on the Strip, told investors this week softness in the Chinese economy could slow the company’s business in Singapore. Genting does not operate a resort in Macau.

“Management is cautiously optimistic on the VIP market,” Wells Fargo Securities gaming analyst Cameron McKnight told investors. “While low hold (percentages) in Singapore has been a consistent theme, we continue to believe it should normalize over time.”

Strip gaming revenues grew 4.8 percent in 2013, the market’s fourth straight annual increase. Last year’s gaming revenue figure was just 5.3 percent behind the Strip’s single-year all-time high of $6.8 billion.

Macau is whole other story.

The Chinese gambling market increased its revenue total by 18.6 percent in 2013 and there are no signs of slowdown in 2014. January’s total revenues grew 7 percent over the previous year. All three Nevada-based companies that operate casinos in Macau — Las Vegas Sands, MGM Resorts International and Wynn Resorts Ltd. — are building multi-billion-dollar resort complexes on the region’s Cotai Strip.

Singapore has capped the number of casinos at just two.

In addition to Las Vegas, Genting recently announced it was pursuing a casino resort complex in South Korea.

Most of the major gaming companies, including Genting, Las Vegas Sands, MGM Resorts and Caesars Entertainment Corp., have expressed interest in Japan gaming expansion. The government is expected to approve casino development by early summer.

“While this would be, of course, a positive event for the gaming industry, we are less inclined to think of Genting Singapore as being meaningfully ahead of the pack,” Govertsen said.

Reade more >>

Casinò cinesi verso nuovi record

La grande e suggestiva Macao continua ad essere il vero albero della cuccagna per Las Vegas Sands, Mgm Resorts Itl, Wynn Resorts e gli altri casino della vera capitale mondiale del gioco. Secondo alcuni analisti, infatti, anche a ottobre i casinò dell’ex colonia portoghese metteranno a segno l’ennesimo risultato da record.

Secondo Rbc Capital Markets, John Kempf, le entrate di gioco dei primi 27 giorni del mesi sono state pari a 4,1 mld di dollari, superando il record mensile che spettava a marzo, quando erano state di 3,93 mld. Un ottimo risultato grazie principalmente al rinnovato afflusso di clientela cinese.

“L’economia cinese è cresciuta del 7,8% nel terzo trimestre '13, in linea con le aspettative e oltre le aspettative annuali che sono del 7,5%. Inoltre, la produzione industriale è cresciuta del 10,2% anno su anno a settembre”, ha riferito  Kempf, aggiungendo che le vendite al dettaglio sono aumentate a settembre del 13,3%.

Macao attrae giocatori del ‘mass market’ principalmente dalla Cina e dai vicini paesi asiatici, mentre i giocatori vip vengono da ogni parte del mondo. Il miglioramento dell’economia cinese cementa il mass market, che rappresenta la più alta quota delle entrate di Macao.

Secondo un rapporto di Stern Agee le entrate di ottobre saranno del 15% più elevate di quelle di marzo, quando erano stati incassati 4,52 miliardi di dollari. Wells Fargo pronostica un segno più pari al 30% rispetto allo stesso mese dell’anno passato.

Reade more >>