On the Edge: The Art of Risking Everything
by Nate Silver · 12 Aug 2024 · 848pp · 227,015 words
helped usher Vegas away from an era of mob dominance. But one man stands out singularly in making modern Las Vegas what it is today: Steve Wynn. The Casino Business Is Three Worlds in One Our tour of this part of the River is going to begin in lush environs before winding
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: There is the high-end luxury resort business, which I’ll describe mostly through the story of the developer who most consistently cracked the code (Steve Wynn)—and the one who most infamously failed at doing so (Donald Trump). At these properties, gambling is just one of many revenue streams and often
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things, the less well-off tend to get the short end of the deck. Wynning Time “A blackjack table is just a piece of furniture.” Steve Wynn, probably the most successful casino developer of all time, was in the midst of an epic rant about how he had never been in the
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, following several accusations and extensive reporting that he had sexually harassed female staff and pressured them into sex, Steve Wynn and Wynn Resorts paid more than $100 million in damages, fines, and settlements, and Steve Wynn agreed to be barred from the Nevada gaming industry. And yet, the Wynn name remains on Wynn Resorts
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for more valuable guests than we were for less valuable guests,” said Loveman. Not everyone agrees with how aggressively Caesars privileges their higher-end customers. Steve Wynn doesn’t, for instance. The notion of a customer who’s already paying for a luxury experience getting cut in line by someone who has
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. “It was part of the excitement. It’s part of the interior decorating of the casinos to have a sportsbook and a poker room,” said Steve Wynn. But sportsbooks and racebooks make up only about 2 percent of gaming revenues at Las Vegas Strip casinos and 1 percent of overall revenues. They
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. GO TO NOTE REFERENCE IN TEXT had sexually harassed: Alexandra Berzon et al., “Dozens of People Recount Pattern of Sexual Misconduct by Las Vegas Mogul Steve Wynn,” The Wall Street Journal, January 26, 2018, sec. Business, wsj.com/articles/dozens-of-people-recount-pattern-of-sexual-misconduct-by-las-vegas-mogul
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-steve-wynn-1516985953. GO TO NOTE REFERENCE IN TEXT damages, fines: Julia Malleck, “Casino King Steve Wynn Was Banned from Nevada’s Gambling Industry,” Quartz, July 28, 2023, qz.com/steve-wynn-casino-king-ban-nevada-gaming-sexual-miscond-1850685469. GO TO NOTE REFERENCE
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safety of, 128n sports betting in, 174–75, 177–78, 182–83, 185–87 Trump and, 142, 150–52, 514n trust and, 143–44, 514n Steve Wynn’s influence, 146–49, 148 See also gambling; slots catastrophic risk. See existential risk categorical imperative, 367–68 Cates, Daniel “Jungleman,” 130, 225, 226, 282
The Predators' Ball: The Inside Story of Drexel Burnham and the Rise of the JunkBond Raiders
by Connie Bruck · 1 Jun 1989 · 507pp · 145,878 words
the first of them, Stephen Wynn, would say to Forbes magazine years later, about Drexel, “They made me.” SHORTLY AFTER Milken arrived in Century City, Steve Wynn came to see him. Five years earlier, Wynn had taken control of a foundering, third-rate casino in downtown Las Vegas, the Golden Nugget. He
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whole gaming industry. And they did.” But in the beginning Milken had raised $160 million for something that was little more than a gleam in Steve Wynn’s eye. One buyer, James Caywood, recalled that as hungry as he was for junk at that time, investing in the Golden Nugget bonds had
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was a dream. The balance sheet was nonexistent. Those of us that bought were doing nothing but betting on, number one, Drexel, and, number two, Steve Wynn,” said Caywood. Wynn concurred. “We symbolized, in terms of timing and our essential posture, the archtruth of Drexel’s philosophy. There we were, wanting more
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people shun publicity, as he did. He was convinced there was no upside—“Mike would always say, ‘You can’t make a dime off publicity,’ ” Steve Wynn recalled—and there was considerable downside. If his people started seeing themselves in print, he once commented to this reporter, they would get their heads
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that it offended him. In the above SEC deposition, the government attorney was questioning Milken about having been in Sun Valley, where Milken had seen Steve Wynn. “. . . I’m not quite sure what the circumstances are here. Were you on a holiday?” asked the lawyer. “I took off Friday and was there
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, Meshulam Riklis and Saul Steinberg—whose companies were busily buying one another’s Drexel-issued paper. And he would also participate, along with Steinberg, Spiegel, Steve Wynn, Ivan Boesky, Ronald Perelman, the Belzbergs and others, in one of Milken’s lucrative investment partnerships, Reliance L.P. Posner made a fortune in real
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, were there. Meshulam Riklis (Schenley Industries) came in for $25 million; Nelson Peltz (Triangle Industries), $20 million; David Solomon (Solomon Asset Management), $50 million; and Steve Wynn (Golden Nugget), $40 million. The biggest pieces were taken by the Belzbergs, Charles Knapp and Atlantic Capital. The Belzbergs, through three of the entities they
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the corporate-finance department. John Kissick, Drexel’s investment banker in Beverly Hills (who had worked with Milken on that first Golden Nugget transaction for Steve Wynn), had built this department from three professionals in 1982 to about ten in early ’85 and to sixty in ’86. According to Kissick, 30 percent
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’s style. In another such concession, Milken had recently hired four bodyguards. His wife, Lori—who was Milken’s high-school sweetheart and, according to Steve Wynn, the only girl Milken ever dated—apparently had no greater desire for conspicuous consumption than her husband did. She was said to appear at black
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, and outside of his control. Happily for him, considering that distrust, he had not needed it for his business. As he used to say to Steve Wynn, “You can’t make a dime off publicity.” In the early days, his investors had been glad that Milken and his arcane bonds kept a
All the Money in the World
by Peter W. Bernstein · 17 Dec 2008 · 538pp · 147,612 words
authorities ended his reign, opening up licenses to outside competitors. Adelson was first through the gates28, with his Vegas rival and fellow Forbes 400 member Steve Wynn, owner of the Wynn Las Vegas, not far behind. While other investors hemmed and hawed over gaming regulations, Adelson threw himself into the fray. He
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money out of, Las Vegas than just about anyone else. In addition to Sheldon Adelson (see Chapter 2), the current kings of the Strip are Steve Wynn and Kirk Kerkorian. These are the men who made Vegas what it is today, and the men that Vegas made
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. Steve Wynn: With a $2.6 billion fortune in 2006, Wynn is credited with leading32 the resurgence of Las Vegas’s fortunes during the 1990s, when he
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the case in which a billionaire keeps his treasures, displays them conspicuously—and still gets a tax break. Yet that’s just what casino mogul Steve Wynn has managed to do. Wynn persuaded the Nevada legislature to exempt his art collection from sales tax by arguing that because it was on view
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III, which he had acquired from a Tehran museum in 1994 in exchange for a sixteenth-century Persian manuscript, and Police Gazette (previously owned by Steve Wynn)—both to Steve Cohen. Geffen also shattered records with a $140 million sale of Jackson Pollock’s No. 5, 1948 (previously owned by 400 member
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Doris Fisher, Henry Kravis, Leonard Lauder, S. I. Newhouse Jr., John Pritzker, Steven Rales, Jay Rockefeller, Fayez Sarofim, Charles Schwab, Michael Steinhardt, Alice Walton, and Steve Wynn. * * * As much as the Steinbergs, Schwarzmans, and Trumps of the world may wish to trumpet their success, a substantial number of the Forbes 400 would
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: Forbes.com. 31. Though Adelson will own: Miller, “The Gambler.” 32. Wynn is credited with leading: Much of the information here comes from Tyler Maroney, “Steve Wynn’s Growing Pains,” Fortune, Nov. 22, 1999. See also Matthew Miller, “Courtesy Callers,” Forbes, Oct. 9, 2006. 33. Kerkorian ran a small air-charter service
1,000 Places to See in the United States and Canada Before You Die, Updated Ed.
by Patricia Schultz · 13 May 2007 · 2,323pp · 550,739 words
in town. The queen of clubs is typified by Wynn Las Vegas: Staying here makes you feel like part of an exclusive members-only society. Steve Wynn, the hotel impresario who built Bellagio, added another billion to his previous record and came up with this sensually curved bronze skyscraper looming large over
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gleaming, well, palace. Finally, the queen of hearts goes to the Mirage for its special place in the zeitgeist of Las Vegas. Also built by Steve Wynn and the first of the modern Vegas hotels, its white-and-gold towers soar from the desert like the oasis evoked by its name. It
The Secret Lives of Buildings: From the Ruins of the Parthenon to the Vegas Strip in Thirteen Stories
by Edward Hollis · 10 Nov 2009 · 444pp · 107,664 words
and that he has a job to do. He jerks awake and puts his hands on the desk. He eyes Adelson levelly: “Tell me about Steve Wynn.” Adelson’s round face reddens slightly, as it is apt to do when he is pricked. He coughs, and the presentation rolls on. “DECADENCE,” SAYS
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and hands his glittering insignia to a servant with a wry smile. The party is over. “VERY SALUTARY,” SAYS Qian Qichen, “but I asked about Steve Wynn.” Sheldon G. Adelson doesn’t miss a beat, and the slides keep coming. Canaletto’s rich canvas dissolves into an image of Atlantis, where tropical
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eyes open,” the billboards say, and that’s just what happens. The dream they are all dreaming is the dream of Steve Wynn. QICHEN DOESN’T REALLY need to ask about Steve Wynn; he already knows everything he needs to know. He just did it to make Adelson feel like he was paying attention
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the volcano across the road, spewing out its piña colada–scented lava. They don’t care about sirens battling pirates or about the dreams of Steve Wynn. They go back inside, where Cher belts out “If I Could Turn Back Time” to a packed auditorium. The camera pans around the scene and
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have to think about that issue ever again in my life.” The Eastern potentate and the Western purveyor of invisible cities both think of something Steve Wynn once said of his creations: “We start with one question. ‘Who are these people and what do they want?’ The answer controls everything we do
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one lifestyle—yours”: http://www.wynnlasvegas.com/#Shopping/. 265 “Dream with your eyes open”: http://www.wynnlasvegas.eom/#entertainment/. 266 “Our goal was to build”: Steve Wynn, quoted in Las Vegas Strip Historical Site, http://www.lvstriphistory.com/ie/sands66.htm. 266 “It’s much more difficult to give a party
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”: Steve Wynn, quoted in http://thinkexist.com/quotes/steve_wynn/. 266 “What was famous then”: Sands president Henri Lewin, quoted in Las Vegas Strip Historical Site, http://www.lvstriphistory.com/ie/sands66
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feel good”: Quoted in Bruck, “The Brass Ring.” 275 “We start with one question”: Steve Wynn, quoted in http://thinkexist.com/quotes/steve_wynn/. 275 “Las Vegas is sort of like”: Steve Wynn, quoted in http://www.woopidoo.com/business_quotes/authors/steve-wynn/index.htm. 275 “Even as this city moves forward”: Venetian Macao brochure, http://www
Devil's Bargain: Steve Bannon, Donald Trump, and the Storming of the Presidency
by Joshua Green · 17 Jul 2017 · 296pp · 78,112 words
partnership, like so much else in Trump’s life, has a bizarre and winding lineage that traces back to a lawsuit. In the mid-1990s, Steve Wynn, the Las Vegas casino mogul, was looking to move in on Atlantic City, New Jersey, a possibility that threatened the livelihoods of the Trump Plaza
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and Wynn became friends. And that is how, several years later, at a fund-raiser for Children’s National Medical Center in Washington, D.C., Steve Wynn called his friend Donald Trump over and introduced him to a man who would soon set the course for his unlikely political rise: David Bossie
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and everyone about what they thought, whether or not that person could claim any expertise on the topic at hand. In Trump’s mind, then, Steve Wynn’s opinions about politics and how to shape it were every bit as valid and worth listening to as those of a seasoned political consultant
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explains, to my mind, much of his subsequent difficulties. “I deal with people that are very extraordinarily talented people,” he told me. “I deal with Steve Wynn. I deal with Carl Icahn. I deal with killers that blow these [politicians] away. It’s not even the same category. This”—he meant politics
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Atlantic, June 2011. Chapter Two: “Where’s My Steve?” “It’s like poison”: The Trump-Winn story is drawn from George Anastasia, “Donald Trump Vs. Steve Wynn,” Philadelphia Inquirer, March 12, 2000. “a relentless ferret”: Francis X. Clines, “‘Pit Bull’ Congressman Gets Chance to Be More Aggressive, New York Times, March 9
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/2012/01/31/gIQACFD2fQ_story.html. George Clooney, who once stormed: Elizabeth Leonard, “George Clooney Unloads on Casino Owner Steve Wynn,” People, May 2, 2014, people.com/celebrity/george-clooney-unloads-on-casino-owner-steve-wynn/. Trump had accepted both invitations: PageSix.com staff, “Doubled Up,” New York Post, March 25, 2011, pagesix.com
Southwest USA Travel Guide
by Lonely Planet
; 3121 Las Vegas Blvd S) A slice of the French Riviera in Las Vegas – and classy enough to entice any of the Riviera’s regulars – Steve Wynn has upped the wow factor, and the skyline, yet again with the Encore. Filled with indoor flower gardens, a butterfly motif and a dramatically luxe
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) Fans of eye-popping luxury, along with movie buffs who liked Ocean’s Eleven (several key scenes were shot here) won’t want to miss Steve Wynn’s Vegas’ original opulent pleasure palazzo. Inspired by a lakeside Italian village, the Bellagio is now a classic fixture of the strip, perhaps best known
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. M-Bay is connected to Luxor by the eclectic Mandalay Place shopping mall. Wynn Las Vegas CASINO (www.wynnlasvegas.com; 3131 Las Vegas Blvd S) Steve Wynn’s signature (literally, his name is written in script across the top, punctuated by a period) casino hotel stands on the site of the imploded
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-298-7111; www.goldennugget.com/laughlin; 2300 S Casino Dr; r $80-90; ) This cool and inviting place is the casino on which Vegas mogul Steve Wynn cut his teeth back in 1989. The latest owners of this 300-room ‘boutique casino’ have sunk big bucks into creating an intimate but classy
The Organized Mind: Thinking Straight in the Age of Information Overload
by Daniel J. Levitin · 18 Aug 2014 · 685pp · 203,949 words
town so that they’re all in one place, and not mixed in with other receipts. And what to do when things do get lost? Steve Wynn is the CEO of the Fortune 500 company that bears his name, Wynn Resorts. The designer of the award-winning luxury hotels the Bellagio, Wynn
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given decision you make, you’ll wind up with a thirty to forty percent chance that it isn’t going to work.” I wrote about Steve Wynn, the CEO of Wynn Resorts, in Chapter 3. About decision-making, he says, “In any sufficiently large organization, with an effective management system in place
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is not “due.” The notion that chance processes correct themselves is part of the gambler’s fallacy, and it has made many casino owners, including Steve Wynn, very wealthy. Millions of people have continued to put money into slot machines under the illusion that their payout is due. It’s true that
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than they’re telling me, and I’m probably not smart enough to add any value to the knowledge they already have from the field. Steve Wynn’s management philosophy endorses the same idea: Like most managers, I’m at the top of a large pyramidal structure, and the people who are
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to refine the estimate that you actually have the disease. The calculations of probabilities in real life have applications far beyond medical matters. I asked Steve Wynn, who owns five casinos (at his Wynn and Encore hotels in Las Vegas, and the Wynn, Encore, and Palace in Macau), “Doesn’t it hurt
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., Ed Littlefield Jr., Vinod Menon, Jeffrey Mogil, Regina Nuzzo, Jim O’Donnell, Michael Posner, Jason Rentfrow, Paul Simon, Malcolm Slaney, Stephen Stills, Tom Tombrello, and Steve Wynn. Additional helpful comments came from David Agus, MD, Gerry Altmann, Stephen Berens, MD, Melanie Dirks, Baerbel Knaüper, David Lavin, Eve-Marie Quintin, Tom Reis, Bradley
Black Edge: Inside Information, Dirty Money, and the Quest to Bring Down the Most Wanted Man on Wall Street
by Sheelah Kolhatkar · 7 Feb 2017 · 385pp · 118,901 words
armchair, it was painted in 1932 when Picasso was fifty years old, a form of soft porn in jewel tones. In 2001, the casino magnate Steve Wynn had bought it from another collector who had paid $48.4 million for it in 1997. Then, five years later, he decided that he wanted
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he had just agreed to hand over to the SEC. At the end of March, he received a call from the art dealer William Acquavella. Steve Wynn, the casino owner and prodigious art collector, was ready to sell Picasso’s Le Rêve; seven years had passed since Cohen’s original deal with
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, 2006. 4,360 gallons of formaldehyde: Roberta Smith, “Just When You Thought It Was Safe,” The New York Times, October 16, 2007. the casino magnate Steve Wynn had bought it: Account of Wynn cocktail party: Nick Paumgarten, “The $40-Million Elbow,” The New Yorker, October 23, 2006. “This is the most money
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ever paid for a painting”: “Steve Wynn to Keep Picasso He Damaged,” Associated Press, October 18, 2006. the collectors Victor and Sally Ganz: Geraldine Norman, “Life with Picasso,” The Independent, September 27
Frommer's Irreverent Guide to Las Vegas
by Mary Herczog and Jordan S. Simon · 26 Mar 2004 · 266pp · 78,689 words
to establish the Nevada Gaming Commission to control the goodfellas and the good times. By the mid-1980s, Las Vegas was in the doldrums. Enter Steve Wynn, who changed the face of the Strip forever by erecting the glamorous, tropically themed Mirage, with its white tiger habitat, jungle interior, and belching volcano
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behemoth wonder from the mind of the man who single-handedly (well, his hands and those of thousands of construction workers) made modern Las Vegas, Steve Wynn. Shut out, corporate-takeover style, from his Mirage empire, Wynn promptly bought and demolished the old Desert Inn, and is erecting in its place the
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desire for “class,” like a retired madam who madly redecorates in an effort to win over her former clients’ wives. The prime class-monger is Steve Wynn, whose swan song as CEO of Mirage Resorts was the surface-exquisite Lake Como–style palazzo Bellagio. Highly refined (at least by Las Vegas standards
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given our druthers, we head over to his Delmonico Steakhouse for some mighty fine cow. Julian Serrano was a beloved chef in San Francisco when Steve Wynn came calling, luring him with a restaurant lined with millions of dollars of art—Picassos, as it happens, and hence the name of the place
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to be the finest restaurant in America), moves a version of his French bistro, Bouchon, to the Venetian (neither were open at press time). Meanwhile, Steve Wynn, who really started this stampede, promises to lure about every name chef there is to his new Wynn Resorts. But the name branding goes beyond
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exotic items like wonderfully smoky strip loin of elk and saddle of wild boar. Golden Nugget Buffet is revered for its renditions of former owner Steve Wynn’s mother’s recipes for bread pudding, blintzes, and matzo ball soup. At Fiesta’s Garduno’s Cantina, $10.99 will bag you some turbo
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sections: “Headliners” (the Rat Pack, Liberace, Wayne Newton, Shecky Greene, Engelbert Humperdinck), “Gamblers” (Amarillo Slim, Jay Sarno), and “Visionaries” (Benny Binion, Howard Hughes, Carl Icahn, Steve Wynn). UNLV’s Marjorie Barrack Museum explores the culture of the area’s natives and early settlers with breathtaking collections of Southern Paiute baskets, Navajo textiles
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the nearest frozen yogurt shop, Las Vegas’s arts scene is blooming like a delicate cactus flower in the desert. The initial impetus came from Steve Wynn, who opened the Bellagio Gallery of Fine Art with a flurry of press releases pompously comparing Wynn to great art patrons of the past like
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offers tips. Of course, there’s also the ultraexclusive Tom Fazio–designed Shadow Creek Country Club in North Las Vegas, which former Mirage Resorts chairman Steve Wynn underwrote to the tune of $40 million so he could play in peace with his buddies (like Michael Jordan and former president George Bush). MGM
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its Circus Maximus Showroom and built a 4,000-seat homage to Rome’s Colosseum, where Celine Dion holds court about 200 nights a year. Steve Wynn has commissioned yet another Cirque du Soleil fantasia for his re-invented Desert Inn. Several locals’ casinos, following the lead of Orleans, present eclectic name
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! At this writing, Zumanity at New York–New York and the new Cirque production at the MGM Grand have not yet opened, nor has the Steve Wynn commissioned piece, and so we can’t say if there are enough dreamlike visions and feats of contortion possible to keep us interested through five
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