Casino mogul Steve Wynn is the type of person who likes to capture people's attention when he talks. That is why his CNBC appearance was met with the same enthusiasm as the new casino facility in Macau.
The news came from Wynn Resort launchinge their new Macau casino facility with a lot of fanfare, fireworks lit the Macau sky and thousands of gamers entered the facility.
However, the bigger news came from Steve Wynn himself. Wynn sent the casino market in Las Vegas into shock when he said on CNBC on April 23rd, 2010 that he might move the corporate headquarters of Wynn Resorts to Macau.
Such decision would devastate the gaming industry in Nevada. Wynn is considered as one of the top casino employers in Las Vegas and relocating his corporate offices could drain millions of dollars from the Nevada economy.
Still, Steve Wynn is well-known for being ahead of the global casino gaming trend and if he believes that his company would fare better in Macau, he would pursue that move. There is also a chance that Wynn might simply want something from Las Vegas.
The economy and player attendance is down, and Wynn is looking for way to help attract players back to Las Vegas. Either that or he believes that Las Vegas' best times are behind them.
Atlantic City and Las Vegas have both significant gaming revenue losses for the many months in the last few years. Both gaming industries have been affected by increased gaming competition from different states in the U.S.
05/04/2010 13:07 PM