Internet News for Steve Wynn

Steve Wynn (born January 27, 1942 in New Haven, Connecticut) is a casino resort developer. He is credited with spearheading the dramatic expansion of Las Vegas, Nevada in the 1990s.

Wynn managed to parlay his profits from a land deal in the early 1970s (the deal involved two established titans of the Las Vegas casino business, Howard Hughes and Caesars Palace) into a controlling interest in a dusty downtown casino, the Golden Nugget Las Vegas. Wynn renovated, revamped and expanded the Golden Nugget with enormous success, in the process attracting a new upscale clientele to downtown Las Vegas.

Wynn expanded further on his concept of the luxury casino in the later Bellagio resort, including an artificial lake, indoor conservatory and an art gallery in which Wynn displayed museum-quality artworks, and branches of high-end boutiques and restaurants located in Paris, San Francisco or New York.

According to the Forbes 400 listing, Wynn became a billionaire in 2004, when his net worth doubled, to $1.3 billion.

Wynn owned The Golden Nugget in Atlantic City in the late 70's and into the early 80's. The casino was a major success, and he rewarded his employees new cars from a Honda Dealership in Atlantic City. Frustrations with New Jersey gaming regulators led to Wynn selling The Golden Nugget to Bally Entertainment, Incorporated.

Mirage Resorts was sold to MGM Grand Inc. in 2000, to form MGM Mirage. With the money he made on that deal, and with his ability to secure ever-greater financing, Wynn built a new resort, his largest yet, the Wynn Las Vegas, which opened on the former site of the Desert Inn on April 28, 2005.

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