Wynn Resorts focuses on high-rollers

  @FortuneMagazine April 11, 2013: 8:06 AM ET
FGC29 wynn casino macau

The Wynn Macau and Encore resorts raked in $3.7 billion last year.

(Fortune)

Fastest-Growing Companies rank: No. 26
Headquarters: Las Vegas
Employees: 16,000

The business: Destination casino resorts in Las Vegas and Macau (China)Steve Wynn loves the blockbuster. It's why he goes after all the biggest names in art: Rembrandt, Picasso, Renoir -- he owns a few of each. His properties have always been similarly eye-catching. After all, it was Wynn who first brought the megaresort concept to the Las Vegas Strip when he opened the Mirage in 1989, then one-upped himself with the Bellagio in 1998. Since founding Wynn Resorts (WYNN, Fortune 500) in 2002, the 71-year-old has opened four expansive properties, two in Las Vegas and two in Macau. He was early to Macau, opening a Wynn resort in 2006, and an Encore four years later. The pair brought in nearly $3.7 billion in revenue in 2012, more than double that generated by its Vegas counterparts. Part of the appeal -- both to customers and Wynn's bottom line -- is that, when guests aren't gambling, all other entertainment is on-site. Wynn hotels took in more than $260 million in retail revenue in 2012, while food and beverages accounted for nearly $590 million, thanks to the success of the company's high-end (some might say blockbuster) nightclubs.

This story is from the April 29, 2013 issue of Fortune. To top of page



Join the Conversation
CNNMoney Sponsors
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.