Betting on Steve Wynn: Luxury Brands Abound At $2.7B Vegas Resort

Steve Wynn has brought The Mirage, Treasure Island and The Bellagio to Las Vegas. His latest resort, Wynn Las Vegas, is the topper.

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LAS VEGAS — Steve Wynn doesn’t do anything small, and his latest $2.7 billion resort, called Wynn Las Vegas, is no exception. Its goal is simply to be the ne plus ultra of luxury hospitality and retailing.

And it’s off to a good start. The 75,000 square feet of retail space alone is a Who’s Who of luxury brands, including Dior, Cartier, Brioni, Chanel, Louis Vuitton, Graff, Oscar de la Renta, the second Manolo Blahnik store in the U.S. and Jean Paul Gaultier. Not to mention a Maserati and Ferrari dealership.

Then there are the other details of the 217-acre resort at the corner of Las Vegas Boulevard and Sands Avenue on the site of the old Desert Inn. It employs nearly 10,000 people, features a 140-foot man-made mountain with 1,400 trees and 25,000 shrubs, an 18-hole golf course where guests can tee off for $500 and outdoor lakes and waterfalls that conjure up images of the mythical island Avalon. Perhaps most shockingly, the resort is bathed in natural light — practically a sin in Sin City.

“It’s not supposed to be the best in Las Vegas,” smiled Wynn from his table at the Country Club restaurant that looks out over the golf course, designed by Tom Fazio. “It’s supposed to be the best in the world.”

The resort opens tonight with a private party for Wynn’s wife, Elaine, where 100 guests will celebrate her 63rd birthday. At midnight, Wynn will hand the “keys” to the hotel to his wife and will officially open the casino doors to the public.

The festivities will continue over the next few days, with Manolo Blahnik making a personal appearance in his store on Friday and Oscar de la Renta doing the same in his unit on Saturday.

But even as Wynn celebrates the opening of his latest resort, he already has plans to expand it. While details haven’t been finalized, Wynn is preparing a second phase, called Encore, that will add another 90,000 square feet of retailing space. 

It’s that brazen confidence that lured luxury retailers to Wynn in the first place.
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