{"id":35071,"date":"2016-04-10T10:00:43","date_gmt":"2016-04-10T17:00:43","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=35071"},"modified":"2016-04-08T14:32:59","modified_gmt":"2016-04-08T21:32:59","slug":"steve-wynn-poor-people-dis-and-las-vegas-1-5b-project","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/steve-wynn-poor-people-dis-and-las-vegas-1-5b-project\/","title":{"rendered":"Steve Wynn Says \u201cNobody Likes Being Around Poor People,\u201d Proves His Point with $1.5 Billion Las Vegas Lagoon Project"},"content":{"rendered":"

Steve Wynn\u2019s eponymous resort conglomerate will spend $1.5 billion transforming the Wynn Golf Club into a 38-acre lagoon surrounded by sandy beaches, the mogul announced Thursday. The lake will be next to a new 1,000-room hotel-casino that will also house the usual restaurants and nightlife attractions.<\/p>\n

\"Steve
Billionaire Blooper: Wynn Resorts CEO Steve Wynn might have said a little too much when addressing investors about a new Las Vegas lagoon development project. (Image: Nick UT\/AP)<\/figcaption><\/figure>\n

Speaking at his company\u2019s first-ever investors day, Wynn said that the new resort would offer \u201cice cream and a fireworks show every night, just like Disney,\u201d while the lake would host waterskiing and paddle-boarding.<\/p>\n

\u201cThis is the most fun project in my 45 years,\u201d he gushed. \u201cSomebody take the other side, tell me what\u2019s wrong with this idea? We\u2019ve all drunk the Kool-Aid.\u201d<\/strong><\/p>\n

Payday Paradise<\/strong><\/h2>\n

The resort, which would nestle behind the Wynn and Encore resort towers that face the Las Vegas Strip, would be the mogul\u2019s first major Las Vegas development since the construction of the Encore, which opened in 2008.<\/p>\n

The earnings of the Wynn Golf Club, which Telsey Advisory Group analyst David Katz said this week pulls in revenues of around $5 million, would be blown out of the water by the new project, tentatively titled the \u201cWynn Paradise Park,\u201d which could bring in $300 to 400 million per year.<\/p>\n

Poorly Thought-Out Remarks<\/strong><\/h2>\n

Wynn also used the company\u2019s investor gathering as a platform to stick his foot firmly in his mouth, and pretty nimbly for a 74-year-old, we might add.<\/p>\n

In a week when the Panama Papers leak<\/a> revealed the not-very-secret fact that rich people use offshore tax shelters to maintain their wealth, Wynn’s poor choice of words regarding the economically challenged among us came back to bite him.<\/p>\n

\u201cRich people only like being around rich people,\u201d noted billionaire Wynn, who should know. \u201cNobody likes being around poor people, especially poor people.\u201d<\/p><\/blockquote>\n

The CEO, who is currently engaged in a highly publicized War of the Roses with his ex-wife Elaine over control of her stock in Wynn Resorts<\/a>, was attempting to explain the appeal of the Wynn brand at the time, but like so many politicians of late, missed the mark by a continent or two.<\/p>\n

\u201cThis company caters to the top end of the gaming world,\u201d he said. \u201cWe\u2019re sort of Chanel or Louis Vuitton, to use the comparison, the metaphor of the retail business. But unlike Chanel and Louis Vuitton, we are able in our business to cater to all of the market. By making our standards so high \u2026 that everybody wants to be in the building.\u201d<\/p>\n

An underling quickly stepped in to run interference and clear up the casino magnate’s intentions.<\/p>\n

\u201cMr. Wynn’s comment was made in the context of a discussion that the company creates luxurious resorts which have an aspirational appeal to a broad range of guests,\u201d the unidentified spokesperson said.<\/p>\n

Perhaps not surprisingly, Wynn at one point was rumored to be Donald Trump\u2019s political advisor. Both are now running on the Poor Parlance Party ticket.<\/p>\n","protected":false},"excerpt":{"rendered":"

Steve Wynn\u2019s eponymous resort conglomerate will spend $1.5 billion transforming the Wynn Golf Club into a 38-acre lagoon surrounded by sandy beaches, the mogul announced Thursday. The lake will be next to a new 1,000-room hotel-casino that will also house the usual restaurants and nightlife attractions. Speaking at his company\u2019s first-ever investors day, Wynn said […]<\/p>\n","protected":false},"author":42,"featured_media":35081,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21,10,18],"tags":[],"acf":[],"yoast_head":"\nSteve Wynn Says \u201cNobody Likes Being Around Poor People,\u201d Proves His Point with $1.5 Billion Las Vegas Lagoon Project<\/title>\n<meta name=\"description\" content=\"Steve Wynn disses the lower economic classes while announcing a $1.5 billion lagoon development for 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 Says \u201cNobody Likes Being Around Poor People,\u201d Proves His Point with $1.5 Billion Las Vegas Lagoon Project\" \/>\n<meta property=\"og:description\" content=\"Steve Wynn disses the lower economic classes while announcing a $1.5 billion lagoon development for Las Vegas.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/steve-wynn-poor-people-dis-and-las-vegas-1-5b-project\/\" \/>\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=\"2016-04-10T17:00:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2016-04-08T21:32:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2016\/04\/Steve-Wynn-disses-poor-1.5-Billion-Paradise-Park-Las-Vegas.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\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-poor-people-dis-and-las-vegas-1-5b-project\/\",\"url\":\"https:\/\/www.casino.org\/news\/steve-wynn-poor-people-dis-and-las-vegas-1-5b-project\/\",\"name\":\"Steve Wynn Says \u201cNobody Likes Being Around Poor People,\u201d Proves His Point with $1.5 Billion Las Vegas Lagoon Project\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynn-poor-people-dis-and-las-vegas-1-5b-project\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynn-poor-people-dis-and-las-vegas-1-5b-project\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2016\/04\/Steve-Wynn-disses-poor-1.5-Billion-Paradise-Park-Las-Vegas.jpg\",\"datePublished\":\"2016-04-10T17:00:43+00:00\",\"dateModified\":\"2016-04-08T21:32:59+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"Steve Wynn disses the lower economic classes while announcing a $1.5 billion lagoon development for Las Vegas.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynn-poor-people-dis-and-las-vegas-1-5b-project\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/steve-wynn-poor-people-dis-and-las-vegas-1-5b-project\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/steve-wynn-poor-people-dis-and-las-vegas-1-5b-project\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2016\/04\/Steve-Wynn-disses-poor-1.5-Billion-Paradise-Park-Las-Vegas.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2016\/04\/Steve-Wynn-disses-poor-1.5-Billion-Paradise-Park-Las-Vegas.jpg\",\"width\":300,\"height\":400,\"caption\":\"Billionaire Blooper: Wynn Resorts CEO Steve Wynn might have said a little too much when addressing investors about a new Las Vegas lagoon development project. 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