Las Vegas Weekly

Wynn Las Vegas, Victor Drai end partnership

Victor Drai at XS during the day.

TVT

Wynn Las Vegas announced today that it has ended its partnership with nightlife entrepreneur Victor Drai.

Drai owned a third of XS and Tryst nightclubs in Wynn and Encore, both of which he helped to design and develop. The company said today that Jesse and Cy Waits, who run the nightclubs for Drai, will remain the managers of the club.

“In order to pursue other interests, Victor Drai has entered into an agreement with Wynn Las Vegas allowing him the ability to pursue a wide range of business opportunities which would necessitate reducing his responsibilities with our company. Hence, the relations that have worked so well for both Wynn Las Vegas and Victor Drai have come to an end on the best of terms, with the warmest possible feelings of both parties. Speaking for Mr. Wynn and myself, we wish Victor well in his future endeavors,” Wynn Las Vegas President Andrew Pascal said in a statement today.

Wynn did not disclose how much Drai was paid in the buyout.

Wynn’s relationship with Drai began in 2005 when Wynn Resorts Chairman and Chief Executive Steve Wynn recruited him to help save the struggling Le Bete nightclub in Wynn Las Vegas shortly after the property opened in 2005. It later opened as Tryst nightclub.

Drai also operates Drai’s Afterhours nightclub at Bill’s Gamblin’ Hall and Drai’s Hollywood in Los Angeles.

— — Originally published in Las Vegas Sun