Wynn Resorts Opens New Macau Casino, May Move Las Vegas Company

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Steve Wynn is the type casino mogul who likes to get people's attention when he talks. That is why the news that came out of his appearance on CNBC was met with equal excitement as the new casino Wynn opened in Macau.

The casino news came from Wynn Resorts opening their new Macau casino with much fanfare, Fireworks went off in the Macau sky, and thousands of gamblers filed into the establishment. The bigger news, however, came from Wynn himself.

Wynn sent the Las Vegas casino industry into shock when he suggested on CNBC that he may move Wynn Resorts' corporate headquarters to Macau. Such a move would be devastating to the state of Nevada.

Wynn is one of the top employers in Las Vegas, and moving his corporate offices could take millions of dollars out of the economy. Still, Wynn is known for being ahead of the curb on global casino gaming, and if he thinks the company would be better served to operate out of Macau, he would make the move.

There is the chance that Wynn may simply be angling for something from Las Vegas. The economy is down, casino attendance is down, and Wynn is looking for ways to help bring customers back to Sin City. Either that, or he understands that the city's best days are behind them.

Atlantic City and Las Vegas have both had major revenue losses for many months in the past couple of years. The gaming industries have been further hurt by increased competition from states throughout the US.

April 22, 2010
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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