Wynn Resorts focuses on high-rollers

  @FortuneMagazine April 11, 2013: 8:06 AM ET
FGC29 wynn casino macau

The Wynn Macau and Encore resorts raked in $3.7 billion last year.


Fastest-Growing Companies rank: No. 26
Headquarters: Las Vegas
Employees: 16,000

The business: Destination casino resorts in Las Vegas and Macau (China)Steve Wynn loves the blockbuster. It's why he goes after all the biggest names in art: Rembrandt, Picasso, Renoir -- he owns a few of each. His properties have always been similarly eye-catching. After all, it was Wynn who first brought the megaresort concept to the Las Vegas Strip when he opened the Mirage in 1989, then one-upped himself with the Bellagio in 1998. Since founding Wynn Resorts (WYNN, Fortune 500) in 2002, the 71-year-old has opened four expansive properties, two in Las Vegas and two in Macau. He was early to Macau, opening a Wynn resort in 2006, and an Encore four years later. The pair brought in nearly $3.7 billion in revenue in 2012, more than double that generated by its Vegas counterparts. Part of the appeal -- both to customers and Wynn's bottom line -- is that, when guests aren't gambling, all other entertainment is on-site. Wynn hotels took in more than $260 million in retail revenue in 2012, while food and beverages accounted for nearly $590 million, thanks to the success of the company's high-end (some might say blockbuster) nightclubs.

This story is from the April 29, 2013 issue of Fortune. To top of page

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