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Rumor: Steve Wynn To Buy New Frontier

By Chuckmonster on Monday, 6th November 2006 9:35pm
  » filed under Las Vegas  comments: 0

   

A very interesting tid bit in todays Las Vegas Business Press, that Steve Wynn may be partnering with Kerry Packer's family to purchase the New Frontier. Well, why the hell not, right? The Frontier is right across the street from WLV and could be developed as a sister property - giving Wynn a nice chunk of adjacent real estate on the strip (semi-adjacent, that is). Apparently Jack Binion has been gabbing about a potential Packer/Wynn deal. But there's a hitch, and it's name is Donald Trump. Fortunately, seems to have already been ironed out - Trump International Towers are under construction back behind the Frontier, and Donald and Steve have been "talking" a lot lately. Could Steve buy out the Frontier, Trump Plaza and take in Packer's $300 M investment, to build two new properties in the U.S.?

There's no way that Steve Wynn is going to rest on his laurels now - he's a developer and all developer/artists need to have a queue in their product pipelines. Macau is built (mostly), Encore is under construction... something else needs to be on the drawing board for 2010 and beyond.

We hear ... that things are finally moving on the New Frontier site. Rumors swirl that outside investors are helping Phil Ruffin get his "Montreux" project off the ground. Representatives of James Packer's Publishing and Broadcasting Ltd. have put $300 million on the table but plan to take a passive role in their first move onto the Strip. Legendary whale Kerry Packer enjoyed the high roller rooms much too much to ever think about having to get licensed in the Silver State. However ...

We hear ... also that if the Packer scion is putting 300 mil into the New Frontier it may be part of a joint venture with Steve Wynn to obtain the strategically located Strip acreage. Wynn's trans-Pacific envoy, Jack Binion was talking up a Wynn-Packer Vegas alliance just days ago. Complicating matters further, Donald Trump is rumored to be pushing his own redevelopment plan for the New Frontier, one that Ruffin is resisting. After all, once The Donald weighs in, Ruffin is unlikely to be anything but a very distant second banana, especially from the perspective of the mass media.



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