Home » VT News » Thickening Plot Dept: Wynn Selling Ferrari/Maserati Dealership

Thickening Plot Dept: Wynn Selling Ferrari/Maserati Dealership

By Chuckmonster on Thursday, 17th September 2015 10:17am
  » filed under Las Vegas  comments: 20

   

VT reader Phil has tipped us off that a number of Ferrari owners who purchased their cars at Wynn-Penske Ferrari/Maserati dealership at Wynn Las Vegas have been told by reps that the dealership is being sold to Towbin Motorcars. Towbin Motors own and operate Rolls Royce, Bentley and Aston Martin dealerships that service and sell pre-owned Ferrari vehicles. As of now, Penske Automotive still lists the Wynn Las Vegas dealership on their website. There is no mention of the sale of this dealership in any of Wynn Resorts or Penske Automotive's recent financial filings.

While it may seem that this potential sale comes from out of the blue, analyzing it in the context of other recent developments unveils a very compelling narrative.

The road begins at Encore's Botero which is closing to make way for a new dining concept that will add breakfast and lunch service to its offerings. This service change essentially eliminates any need for Society Cafe. Not surprisingly, Society is scheduled to close only days after the new post-Botero restaurant opens. An insider told VT yesterday that Society space is earmarked for casino expansion, specifically a new poker room. Why would Wynn open a second poker room? The answer is, they aren't. The Wynn Poker room likely going to move to the Society space in Encore, and retain quick access to the Self-Park garage from the Encore esplanade doors. A peek at Wynn & Encore property map reveals that Wynn Poker room and Society are roughly the same size.

So that opens up the current Wynn Poker Room. Now, we hear that the adjacent Ferrari dealership may be closing and be readied for possible redevelopment.

Why would Wynn go through all the trouble combining restaurants, moving poker rooms and selling a prestigious, yet non-essential car dealership? There has to be a compelling revenue-driving reason behind all this reshuffling. The answer is one word:

ālon

Wynn Alon Bridge

Steve is making preparations to build a bridge connector to Andrew Pascal & Jamie Packer's planned project across the street.

Does Steve want ālon, Resorts World, Trump and Fashion Show Mall pedestrian entrance to be as grand and wonderous experience as that the current, breathtaking, self-park vestibule and Hertz rental car desk provides? Uhhhh no. The Steve knows a thing or two about the importance of giving guests a sensation of arrival, even if the arrival is by foot. Think Wynn Tower Suites valet atrium, Wynn lobby atrium, Wynn rear valet atrium, the waterfall by the Wynn Esplanade, the lobby at Bellagio, the atrium at The Mirage, the Strip side Encore porte cochere with the two thousand year old jade trees, crystal peacocks and gorgeous high limit area. Oh, yeah... they bulldozed that beauty to put in the party pool. But you catch my drift. The first breath of Wynn air should be the deepest, most pervasive, tone-setting breath any and every guest who walks through its doors will take.

Wynn Alon Bridge

Some casino developers wouldn't think anything of making new guests walk through hallway built from 10 yards poached from an adjoining retail space. They'd also be fine with having the first thing guest see upon entry is a room of sweaty poker dweebs, heads down in concentration while a swarm of casino chip cicadas rattle, chirp and roar. Not Steve Wynn. There is NO WAY that is gonna happen.

A bridge? Yes, most definitely, then some architectural drama, followed by a little pizazz and finally a few subtly located, whimsical and colorful delights. Then comes a shop, or a bar or a Popeye or a transplanted Botero. What it is matters not at that point, the hook of fancy was set at first breath.



Tagged: wynn   encore   ferrari   poker   alon   





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Comments & Discussion:

Looks like its confirmed on ferrari chat...

https://www.ferrarichat.com/forum/las-vegas/499807-penske-wynn-ferrari-closing.html

ha they are probably just throwing in another club into that spot to vomit oontz onto the strip dubbed: wynNext

This makes sense, as Towbin's biggest customer is recently retired boxer Floyd Mayweather and probably needs to start saving some money when it comes to buying new cars..... For a guy that has bought over 100 cars from Towbin (including three Bugattis and 16 Rolls Royces), he's not going to be buying a Kia or a Smart anytime soon, so maybe he'll start buying Ferraris and Maseratis instead.....

Long-term, having a luxury car dealership at Wynn was more of a prestige thing than a practical thing. There was a Lamborghini dealership at Palazzo for a time (The whole thing was a weird state of affairs, as it was announced and press released as being an authorized dealer, but a few years after it opened, Lamborghini sicced their lawyers on the place for infringing on their copyrights. Not too long afterwards a dealership opened in Henderson run by the Findlay Automotive Group) and the place became an exotic car museum.

At first, I wasn't sure where you were going, Chuck. I work in the auto industry, and dealerships change owners all the time. However, when put in context with Alon, along with the other recent announcements, your theory makes a lot of sense. Let the North Strip war begin!!

In other news: looking at the map, it looks like a Moncler boutique will open up right next to Brioni. There must be a market for $2000 puffy ski jackets in the desert. :D

Is he Wynn responsible for building the entire connector bridge OR is this the city's responsibility? I understand him wanting him wanting impress on the entrance on his side, but the whole bridge?

Chuck, I think this is incredible sleuthing by you. It all seems to make sense. My only real question is the timing. Alon won't open for 3 more years. It surely wouldn't take Wynn three years to remodel the space by the current poker room and build a bridge. Seems early to make such moves. I do think you're right, just curious if you have any thoughts about the timing?

@blakjak21 Assuming it follows the model of the other bridges, the county actually pays for most of these things, though the casinos have to do anything above the basics.

@dulac - this is really about control. steve wants control the entirety of the bridge - how it is built, where it connects to his resort and what whatever they dream up for this new pedestrian entry. if he waits for alon, then alon decides where the bridge is.

This project is more than connecting a walkway. There is a valet parking garage, a parking garage driveway, the ferrari service center and other stuff underground beneath the dealership. These things will have to be figured out as part of the plan.... that could involve major construction. Also, there will be thousands of construction workers, alon employees and lookyloos on and around the alon parcel immediately after it breaks ground in the spring. They will leave the property during lunch breaks, before and after their shifts. Some will go to Stripburger, others will go to the poker slots. The sooner they get this done the sooner Wynn starts capturing run off from the alon energy. I'd guess that the new entrance will be done by mid-late summer 2016. Another thing to factor in is the expediency of the municipal bridge building process... the powers that be will peep, file paperwork, measure stuff, budget, study, file more paperwork, have hearings, discuss, file more paperwork, adjust budgets, draw plans, have hearings, solicit contract bids, have hearings, select contractors, allocate funds, do more paperwork, have hearings bla bla bla. Who knows how long this takes... if Steve has his plans and structures in place he can tell the city what he needs, not vice-versa.

Is Wynn also trying to dictate where the bridge will be, possibly forcing ALON to re-do their plans, since the bridge might end up in front of their 'water feature'?????

The new bridge is too close of Fashion Show Mall bridge.

It makes more sense to build the new bridge near the corner between RWLV and Alon. The foot traffic between both new resorts will be huge.

^^ i'd expect a second bridge at the north end of encore as well.

@notengonet Take a look at some of the other pedestrian bridges on The Strip. There's one from Caesars to Cromwell and one from Bellagio to Bally's and distance between these two bridges is less than 400 feet. Further south on The Strip, there's a bridge from NYNY to MGM Grand and about 500 feet south of it is one between the Trop and Excalibur. The one being speculated here would be 600 feet north of the one that runs between Wynn and Fashion Show Mall. A second bridge at the north end of Encore would be anywhere from 900-1100 feet from the one being speculated between Wynn and Alon.

Perhaps the space where Sinatra is will be repurposed as a new Northern entry for Encore.

Sinatra is a good restaurant. I doubt they'll mess with it.

Very nice job, your theory makes a lot of sense. Nice work Chuck!

The closing is now been confirmed (of course several days after VT and then TMZ [who obviously has folks that read this site, as their article appeared a few hours after the VT article was posted] reported it).

http://www.reviewjournal.com/business/casinos-gaming/ferrari-dealership-wynn-las-vegas-close

I was thinking perhaps the new entrance will be modeled after one of the multi-leveled atriums that have been discussed for Wynn Palace and the Wynn Everett Redesign. Would be a nice hook for that area.

@vespajet that is hysterical. i didn't know about the tmz thing... obviously... they didn't link back to us. hahaha.
@howardstutz Hi Howard!

Tryst is also closing



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