The recent flurry of rumors that have the two Las Vegas properties of Wynn Resorts being sold will probably not amount to anything.

But there have been recent fresh flurries of rumors circulating among employees that even come with the suggestion a purchase might be announced by Nov. 1.

Is this true? Probably not, but I have no idea. There are interesting arguments either way, but the fact these rumors exist should not be surprising.

Any entity or person with big ambitions on the Strip would include the Wynn and its sister resort the Encore among their first stops in Las Vegas. They are new, in good shape and very profitable.

Also, CEO Wynn has made no secret of his intense dislike for the “uncertainty” and “anti-business” policies of the Obama administration, policies that currently have him reluctant to spend any money on new resorts and the jobs they would generate.

There’s been a longtime belief among some observers that Wynn would eventually sell the Wynn and Encore to Caesars Entertainment. The company was known as Harrah’s back when Wynn reportedly told former Harrah’s CEO Phil Satre about his plans for building the Wynn and then eventually selling it to Harrah’s – I mean Caesars.

In the meantime, Wynn has created a money factory in Macau that regularly continues to set records. He’s also been given approval to begin work on a new hotel and casino he says will be the best thing he’s ever done anywhere. He has shown beyond any question he knows how to succeed in a big way as he pursues the Chinese and Asian markets.

Let’s not forget he has also acquired citizenship in Monaco, has high hopes of creating new Asian Rim resorts for the rich and pampered, is divorced and remarried and … well, at the age of 69, he may see some greener pastures within his reach.

So who might he sell these Las Vegas properties to? There is a world full of rich people who might be tempted by the prospect of owning two of Las Vegas’ most successful playgrounds.

I’ve already mentioned Caesars, the private company whose ownership group Apollo and TPG Capital have considered investments in other casino operations.

And then there is, oh yes, how about Elaine Wynn? She has already shown she’s well able to not let a little thing like a divorce – one that made her a billionaire – get in the way of what appears to be a continuing business relationship with her ex-husband.

There’s also the possibility Wynn might simply shake his head in disbelief at all the people inclined to embrace rumors, whatever their source, the truth being he’s in no hurry to rid himself of successful resorts that are important links in a growing global chain.

Similar Posts:

Share