Encore Casino Another Wynn Promise

Steve Wynn is not one to back down from a challenge, not when he's riding the crest of the wave. Wynn Resorts Ltd. the mega-successful hotel and casino company is set to officially open the Encore on the Las Vegas Strip.

Going big
In spite of a smattering of calls for caution in the hotel and casino industry, not to mention the global credit crunch, Wynn is fully confident that his new Encore resort will continue to add shine to the Wynn name. And it's a big investment for the Wynn group - a $2.3 billion price tag for the 2000 room hotel-casino in the heart of the famed Las Vegas Strip.

Solid
Positive thinking and a healthy financial profile make Steve Wynn confident that the new Encore venture is going to succeed. Backing up his words is his company's balance sheets which reflect the best performance in a declining industry. Wynn's company showed approximate stock drops of 50% compared with MGM Mirage's more than 80% and Las Vegas Sands 90% stock-price declines.

While competitors are selling off chunks of their empires for greater liquidity, Wynn Resorts is dropping anchor and investing in new ventures. Las Vegas Sands tycoon Sheldon Adelson, for example, has laid off thousands of workers in the Macau venture and even pumped a billion dollars into his company. All the while Wynn has judiciously invested and managed his mega portfolio.

Encore
It's grand, yet intimate and elegant. The Encore is an opulent 2000 room tower and casino with all the trappings of top-class entertainment. At the Encore, all the razzmatazz of typical Vegas style casinos can be found. It's a bold move in testing times, but all the signs are positive.