Las Vegas Weekly

April 21, 2010 · 11:03 AM

Hotel mogul Steve Wynn makes major moves in Macau

By Robin Leach

Steve Wynn.

Photo: Scott Harrison/Retna/www.harrisonphotos.com

Las Vegas hotel tycoon Steve Wynn unveiled Encore, his new all-suites boutique hotel alongside its sister resort Wynn Macau in the Chinese island community today and said it’s the most beautiful hotel anywhere in the world! The opening comes hard on the heels of two startling admissions last night from Steve: He’s seriously thinking about moving his corporate headquarters from Las Vegas to Macau, and he’s moving ahead with plans for a third property in Macau.

In a statement for the Encore Macau opening ceremony, Steve said: “Our goal with Encore was to broaden the appeal of Macau as a tourist destination and open the most beautiful hotel in the world. I am grateful to the People’s Republic of China and the Government of Macau who gave us this opportunity. As a result, the loveliest hotel in the world is not in London, Paris, Tokyo, New York or San Francisco. It is here in Macau. Encore at Wynn will bring the highest level of service and accommodations to the hospitality industry and will be enjoyed by our employees and guests forever.”

Accommodations at Encore include 414 suites and villas that offer tasteful elegance in a comfortable, residential setting. Encore introduces two new restaurants to the Wynn dining family, and Bar Cristal’s jewel box decor turns a classic lobby bar into a work of art. The Spa at Encore offers treatments in eight private therapy suites, each with its own steam room, sauna and aroma-hydrotherapy bath and shower. The Shopping Esplanade is home to three signature stores -- Cartier, Chanel and Piaget -- showcasing the finest selections including limited-edition pieces unique to Encore.

Photo: TVT

Steve Wynn and girlfriend Andrea Hissom at the grand opening of Beso restaurant and Eve Nightclub at CityCenter on Dec. 3, 2009.

Before the Macau opening, Steve blamed President Obama for not solving the job crisis in America and added that unemployment is and will continue to severely affect the Las Vegas economy. “There simply won’t be any growth in Vegas for the foreseeable future. The Obama administration’s policies ‘do not encourage investment.’ It’s a very sad time,” Steve said.

“The governmental policies in the United States of America are a damper, a wet blanket,” he said in a separate interview aired at the opening on Bloomberg Television. “They retard investment, they retard job formation, they retard the creation of a better life for the citizens in spite of the rhetoric of the president. I don’t think the Las Vegas market at the moment beckons a large investment.”

As a result of the “soft” Las Vegas economy, Steve said he was seriously thinking of moving his corporate headquarters from Las Vegas to Macau. Last year, Macau made up 60 percent of Wynn’s corporate revenues. In 2006, Macau surpassed Las Vegas to become the biggest gaming center in the world based on revenues.

Photo: TVT

George Maloof, Steve Wynn, Elaine Wynn and Kevyn Wynn.

Steve said China will now be the only country in which he’ll boost his investments. He also said he won’t be taking on a partner for the new hotel projects. He has applied to the Chinese government to lease 52 acres on Macau’s Cotai strip near Las Vegas rival Sheldon Adelson’s properties, and the project is pending approval. Steve said that it will feature the world’s most beautiful hotel gardens as its centerpiece.

The 10-minute, opening-night fireworks display to be presented by the Grucci family has been postponed for 72 hours while China mourns the victims of an earthquake in Qinghai province, China. Steve expressed his deepest condolences.

Robin Leach has been a journalist for more than 50 years and has spent the past decade giving readers the inside scoop on Las Vegas, the world’s premier platinum playground.

Follow Robin Leach on Twitter at Twitter.com/Robin_Leach.

Follow Vegas DeLuxe on Twitter at Twitter.com/vegasdeluxe.

Follow VDLX Editor Don Chareunsy on Twitter at Twitter.com/VDLXEditorDon.

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