As successful as Steve
Wynn has been with his casinos, and as much as he has done for Las Vegas, Wynn
made a huge mistake by making the decision to allow his casino floor managers to
share in the tips his table dealers were procuring from patrons. The fight put
up by the dealers and the controversy that followed was anything but positive
press for Wynn, who was largely made out by the media as a ruthless dictator
unwilling to share a penny of his vast fortune. It may now seem that this stigma
has some gaming analysts wondering what happened to Wynn's top man at Wynn
Macau.
The President of Wynn
Macau Casino Resort, Grant Bowie, will be leaving his post this Friday, July 6th
according to a statement made by Wynn Resorts earlier in the week. Offering no
explanation of Bowie's departure, one can't help but think that Wynn Macau's
tremendous success up until this point is winding down. Even though Steve Wynn
himself stated that second quarter results for 2007 "significantly exceeded" the
financial expectations of the company, the exact numbers will not be released
until late July at the earliest.
It's no mystery that
Wynn Macau, which opened in September, 2006, is keeping a close eye on their
competition. Considering the casino resort has not had the type of competition
that it faces in Las Vegas, business has been amazing. However, now that the
$2.4 billion Venetian Macau Casino is ready to open in less than a month, and
the MGM Grand Macau will be opening their doors in less than six months, Wynn
Resorts is understandably prepping for a drop in business.
One such indication was
the company's decision to scale back a casino expansion that was originally
going to add on an extra 123,000 square feet to the edifice. Now at just over
one-fifth the size of the initial expansion, Wynn announced it's 25,000 square
foot addition, which includes twenty-five table games and two-hundred slot
machines, will open to the public near the end of September, 2007.
Gaming analysts seem to
think that Bowie's departure is not a red flag, and that it is unrelated to the
current state of affairs in Macau's casino scene, which despite the
aforementioned increase in competition, are still quite favorable for Wynn
Macau. Whatever Wynn's part is in the matter, and regardless of how he chooses
to pay his employees, the fact of the matter is that Wynn Resorts is still one
of the best casino resort brands in the world.