{"id":136552,"date":"2020-05-21T16:45:29","date_gmt":"2020-05-21T23:45:29","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=136552"},"modified":"2020-05-21T17:03:19","modified_gmt":"2020-05-22T00:03:19","slug":"steve-wynn-sees-macau-rebounding-complexities-for-las-vegas","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/steve-wynn-sees-macau-rebounding-complexities-for-las-vegas\/","title":{"rendered":"Steve Wynn Sees ‘Overwhelming Impulse’ to Return to Normal, Accidentally Calls Wynn Resorts ‘My Company’"},"content":{"rendered":"

In an interview with Maria Bartiromo of Fox Business<\/i>, former Wynn Resorts Chairman and CEO Steve Wynn said people have an \u201coverwhelming impulse\u201d to return to normal in the wake of the coronavirus. And in what could have been just old habit, he called the integrated resort operator from which he was sent packing in 2018, \u201cMy company.\u201d<\/p>\n

\"Steve
Former Wynn Resorts Chairman Steve Wynn said Macau is going to bounce back following COVID-19. (Image: CNBC)<\/figcaption><\/figure>\n

Since leaving the gaming firm he founded amid a cloud of sexual misconduct allegations<\/a> and selling all of his equity in the Las Vegas-based company, Wynn hasn’t completely disappeared from public view. But he’s also mostly been mum on gaming-specific issues. That changed in the Tuesday phone interview with Bartiromo.<\/p>\n

There’s an overwhelming impulse for people to return to their normal, habitual behavior,\u201d the former gaming executive said. \u201cWe’re seeing that in America now. People just are not going to accept being under house arrest, no matter what some governor says to them.\u201d<\/p><\/blockquote>\n

Wynn, a long-time mega-donor<\/a> to the Republican Party, didn’t specify a particular governor he’s taking umbrage with over shelter-in-place policies. The former gaming boss gave the interview from his Palm Beach estate where he’s visiting with his wife, Andrea.<\/p>\n

‘My Company?’<\/h2>\n

Wynn, viewed in some circles as the Godfather of modern Las Vegas, went on to detail some of the difficulties companies with large employment bases face in reopening in the aftermath of COVID-19.<\/p>\n

\n

\u201cWhen you talk about Las Vegas, and really any business with a huge employment base…these hotels that five to six\u00a0 (thousand) and my company, 12,000 employees at Wynn and Encore, the logistics and decisions that have to be made to open them are very complicated,\u201d said Wynn.<\/p>\n<\/div>\n

If Sin City reopening plans proceed as planned, Wynn Resorts is aiming to restart at least one of its two Strip venues on June 1<\/a>.<\/p>\n

Wynn told Bartiromo it’s not unusual for a high-end integrated resort to cost $3 million per day just to open the doors, and he praised leadership at his former company, calling it \u201coutstanding,\u201d though he didn’t specifically mention CEO Matt Maddox<\/a> \u2013 his hand-picked successor.<\/p>\n

Macau Comments<\/h2>\n

Wynn also discussed Macau, where his former company owns Wynn Macau and Wynn Palace, noting that this particular recession is different than the global financial crisis. He said that during the 2008 through 2010 period, Wynn Resorts’ growth in Macau was fueled by Chinese money, and that no layoffs were necessary. Wynn added that no workers were ever furloughed during his time at the helm of the gaming giant.<\/p>\n

\u201cThis time, opening China, which I think is gonna happen as soon as they release some of the restrictions on the visas,\u201d said Wynn. \u201cMacau, I believe you’ll see bounce back very rapidly, which will benefit the Nevada hotels that have operations there.”<\/strong><\/p>\n

Las Vegas Sands, MGM Resorts International, and Wynn Resorts are the Silver State-based companies with footprints in the Chinese territory.<\/p>\n

He added that by June 15, there should be more clarity on the success of reopening efforts for gaming properties in the US.<\/p>\n","protected":false},"excerpt":{"rendered":"

In an interview with Maria Bartiromo of Fox Business, former Wynn Resorts Chairman and CEO Steve Wynn said people have an \u201coverwhelming impulse\u201d to return to normal in the wake of the coronavirus. And in what could have been just old habit, he called the integrated resort operator from which he was sent packing in […]<\/p>\n","protected":false},"author":46,"featured_media":136554,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62],"tags":[],"acf":[],"yoast_head":"\nSteve Wynn Sees Macau Rebounding, Complexities for Las Vegas<\/title>\n<meta name=\"description\" content=\"Steve Wynn believes people want to return to normal following the coronavirus, but adds Macau is likely to rebound faster than Las Vegas.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Steve Wynn Sees Macau Rebounding, Complexities for Las Vegas\" \/>\n<meta property=\"og:description\" content=\"Steve Wynn believes people want to return to normal following the coronavirus, but adds Macau is likely to rebound faster than Las Vegas.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/steve-wynn-sees-macau-rebounding-complexities-for-las-vegas\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-21T23:45:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-22T00:03:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/05\/wynn2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1910\" \/>\n\t<meta property=\"og:image:height\" content=\"1000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynn-sees-macau-rebounding-complexities-for-las-vegas\/\",\"url\":\"https:\/\/www.casino.org\/news\/steve-wynn-sees-macau-rebounding-complexities-for-las-vegas\/\",\"name\":\"Steve Wynn Sees Macau Rebounding, Complexities for Las Vegas\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynn-sees-macau-rebounding-complexities-for-las-vegas\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynn-sees-macau-rebounding-complexities-for-las-vegas\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/05\/wynn2.jpg\",\"datePublished\":\"2020-05-21T23:45:29+00:00\",\"dateModified\":\"2020-05-22T00:03:19+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Steve Wynn believes people want to return to normal following the coronavirus, but adds Macau is likely to rebound faster than Las Vegas.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynn-sees-macau-rebounding-complexities-for-las-vegas\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/steve-wynn-sees-macau-rebounding-complexities-for-las-vegas\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynn-sees-macau-rebounding-complexities-for-las-vegas\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/05\/wynn2.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/05\/wynn2.jpg\",\"width\":1910,\"height\":1000,\"caption\":\"Former Wynn Resorts Chairman Steve Wynn said Macau is going to bounce back following COVID-19. (Image: CNBC)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynn-sees-macau-rebounding-complexities-for-las-vegas\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Commercial Gaming\",\"item\":\"https:\/\/www.casino.org\/news\/commercial-gaming\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Steve Wynn Sees ‘Overwhelming Impulse’ to Return to Normal, Accidentally Calls Wynn Resorts ‘My Company’\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Steve Wynn Sees Macau Rebounding, Complexities for Las Vegas","description":"Steve Wynn believes people want to return to normal following the coronavirus, but adds Macau is likely to rebound faster than Las Vegas.","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Steve Wynn Sees Macau Rebounding, Complexities for Las Vegas","og_description":"Steve Wynn believes people want to return to normal following the coronavirus, but adds Macau is likely to rebound faster than Las Vegas.","og_url":"https:\/\/www.casino.org\/news\/steve-wynn-sees-macau-rebounding-complexities-for-las-vegas\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2020-05-21T23:45:29+00:00","article_modified_time":"2020-05-22T00:03:19+00:00","og_image":[{"width":1910,"height":1000,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/05\/wynn2.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/steve-wynn-sees-macau-rebounding-complexities-for-las-vegas\/","url":"https:\/\/www.casino.org\/news\/steve-wynn-sees-macau-rebounding-complexities-for-las-vegas\/","name":"Steve Wynn Sees Macau Rebounding, Complexities for Las Vegas","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/steve-wynn-sees-macau-rebounding-complexities-for-las-vegas\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/steve-wynn-sees-macau-rebounding-complexities-for-las-vegas\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/05\/wynn2.jpg","datePublished":"2020-05-21T23:45:29+00:00","dateModified":"2020-05-22T00:03:19+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"Steve Wynn believes people want to return to normal following the coronavirus, but adds Macau is likely to rebound faster than Las Vegas.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/steve-wynn-sees-macau-rebounding-complexities-for-las-vegas\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/steve-wynn-sees-macau-rebounding-complexities-for-las-vegas\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/steve-wynn-sees-macau-rebounding-complexities-for-las-vegas\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/05\/wynn2.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/05\/wynn2.jpg","width":1910,"height":1000,"caption":"Former Wynn Resorts Chairman Steve Wynn said Macau is going to bounce back following COVID-19. (Image: CNBC)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/steve-wynn-sees-macau-rebounding-complexities-for-las-vegas\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Commercial Gaming","item":"https:\/\/www.casino.org\/news\/commercial-gaming\/"},{"@type":"ListItem","position":3,"name":"Steve Wynn Sees ‘Overwhelming Impulse’ to Return to Normal, Accidentally Calls Wynn Resorts ‘My Company’"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/136552"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=136552"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/136552\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/136554"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=136552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=136552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=136552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}