Word: bellagio
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...cash to make a bigger bet on a new Strip hotel, the Palazzo, and other properties in the U.S. and overseas. In April, Steve Wynn, 62, the man who brought renewed glamour to Vegas in the 1990s with the shimmering-sided Mirage and then the Continental swank of the Bellagio, will open the $2.6 billion Wynn Las Vegas. It's just a construction site, but Wynn's creation is scaring all his competitors, with its plans for a 15-story mountain and lake, 2,700 suites-only rooms, a Ferrari and Maserati dealership, in-house staging of the Tony-winning...
...Venetian, which has a two-story rock-climbing wall. Luxury designer shops, from Louis Vuitton and Gucci to Armani and Dior, are so common that they seem practically like Gaps in Vegas. Just down the Strip from the Guggenheim Hermitage Museum, which is inside the Venetian, the Bellagio houses another impressive gallery, which showcases works from the Museum of Fine Arts, Boston. There is even a push to move the Montreal Expos to town. Real estate companies are racing to Manhattanize the place by building high-rise condos in the middle of vast, cheap desert...
More so than most Vegas showmen, casino mogul Steve Wynn, 62, has helped create the postmodern face of Sin City, replacing plain-vanilla gambling with entertainment destinations like the elegant Bellagio, the luxurious Mirage and the fanciful Treasure Island. So it's a noteworthy change of tone that this pioneer is now doing his best to hide it. His first creation since selling his Mirage empire to MGM Grand for $6.4 billion in 2000, the $2.6 billion bronze-toned Wynn Las Vegas casino and resort is designed to provide a rarefied air of seclusion...
...first-class luxury retail brands you would expect to find (Cartier, Chanel, Louis Vuitton), his shops will offer an array of his own private-label products. Also on display in a gallery will be selected works from the world-class art collection that was prominently featured at the Bellagio. (Wynn recently paid $8.8 million for a John Singer Sargent portrait of Robert Louis Stevenson.) While rival executives tend to mock his Renaissance-man profile, what really rankles them is his aggressive show-stealing tendencies. As Wynn's friend and fellow developer Irwin Molasky says, "Everyone is spending time anticipating...
...several gambling restrictions by 2006, including a ban on casino advertising and a 24-hour waiting period for first-time patrons. Last month, after the government indicated that it may cap the number of slot machines at the largest casinos at 1,250 (roughly half the number in the Bellagio), Las Vegas Sands threatened to curtail its multibillion-dollar deals. "Most U.S. operators are jumping in with both feet," says Scott Fisher, managing director of the Innovation Group, "but with a big life raft attached." U.S. casino executives are trying to sweet-talk other governments too. Although Thailand and Singapore...