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Dear Steve...

By Chuckmonster on Thursday, 27th January 2011 7:56pm
  » filed under Wynn Resorts  comments: 6

   

Dear Steve,

Hi pal. I apologize for taking so long since my last letter to you... time indeed is an ever fleeting moment. So, how long as it been, six, seven months? I've heard that you've been hard at work on perfecting Wynn Cotai with DeRuyter Butler, reskinning Wynn Las Vegas with Roger Thomas (love him!) and getting... engaged?!! Oh you old dog... congratulations! How the hell do you do it? Operating a multi-billion dollar concern while thoroughly enjoying the fruits of your life's labor. Speaking of - wasn't the weather smashing in Monte Carlo last fall? Just plain wow. And that gal of yours, she's a looker, and so is your fianceé! Grrrrrowl.

Well, I know that it all wasn't peaches and cream last year. Daniel, Andrew, Alex, Tom, Victor and that kid in the club... hey, when you're as old as we are, change is not only good, it's happening whether we like it or not!

Anyways, I just wanted to drop you a note to wish you a happy 69th birthday. Next time you're in town, you should stop by and have a taste of this scotch that Unwin gave me. He's a guy you should keep your eyes on.

Happy Birthday Steve!

Ciao,

-chuck



Tagged: steve wynn   





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Comments & Discussion:

So at first I'm like, "oh it's another one of these 'lets pretend Steve Wynn reads VegasTripping' posts where Chuck will post something chummy about Steve and it'll be all warm and fuzzy and it'll be up to me to say something really rude and mean about Steve Wynn."

And then I got to the end.

"a guy you should keep your eyes on."

Damn, Chuck. I take my hat off to you.

Chuck, you are really on a roll this week!

DB will eventually sell Cosmopolitan, probably sooner than later. Then, who will buy it? Somehow, MGM has to acquire it because it's more CityCenter than CityCenter is.

As the months tick by, John Unwin has shown that he is this generation's Steve Wynn and can write his own ticket if he wants to stay in Vegas.

MGM buys Cosmopolitan and gets John Unwin in the deal. After a brief introductory period, Unwin becomes MGM CEO and brings it back to life.

Hey, I can dream, can't I?

Love the letter and love Detroit's dreaming. Unfortunately I think we'll see DB unload at some point this year, not because it's not necessarily profitable, but getting it to the point of profitability in the style that John Unwin has done is going to be costly and as much as I'd love to see his philosophy or the 'old' philosophy make a return to the conglomerates, I think we are dreaming to believe it's going to happen.

Once Cosmo gets assimilated, all "Identity" of it will disappear, so says the Borg.

I thought this was a complete waste of a read until I got to the end! Hilarious! :) Jinx- what do you mean by "cosmo getting assimilated'? Are you referring to the fact that other Casinos will try to copy some of their style/pizazz and then all the casinos will be 'Cosmoesque'?
I also wonder how much say John Unwin had in the general design and set up of the Cosmo. What specifically was he in charge of? I've heard nothing but generally very positive reviews of the place and the pics are FAB. If this is partly Unwin's doing? He will be king of Vegas in no time. We are staying in April and can't wait!

We were chatting at the bar at Comme Ca with a woman who works for DB and she said that Mariott was going to make a play for the whole property. Just a rumour but might happen.

asmit, I think it's inevitable Cosmo ends up in someone elses hands. While I love the fact that they seem to have a bit of an old time casino style going (i.e spend money to make money) and I think it will be profitable, I just don't think that Deutsche Bank has any reason to stay in on the investment. While a casino can definitely be profitable and they have deep pockets to withstand down times, I think the type of business it is and the fact that there are associated risks (gaming license, drinking, etc) that could affect their profitability that makes me think it just doesn't fit the profile.

And if it's moved to another operator, I think you'll see the standard corporate mentality come in and change the way they do business. The only way I think it would stay with the same business model is if it was a sole operator that came in, i.e someone that doesn't own any/many casinos anywhere else but has experience. (Jack Binion or something like that).



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