Careers at Wynn Las Vegas
Wynn Las Vegas does not have a specific mission. However, the mission of its parent company, Wynn Resorts, is to provide an elegant environment, high-quality amenities, a superior level of service, and distinctive attractions for its customers.
In 2000, hotelier Steve Wynn sold his Mirage Resorts property to MGM Grand in a hostile takeover. Later that year, he purchased the Desert Inn for $270 million. In 2001 he revealed plans to build a new resort in the space occupied by the inn. It would be 49 stories, have 2,455 rooms, and a four-acre lake. Its name would be "Le Rêve", which means"the dream" in French.
Wynn imploded the Desert Inn’s main tower in preparation for the new offering. In 2002 he launched the company Wynn Resorts to oversee the project. He recruited investment banker Ronald Kramer as President to help take Wynn Resorts public and manage its expansion. In 2002 it filed an initial public offering and became listed on the NASDAQ. In 2004 the rest of the Desert Inn was taken down.
The Desert Inn’s golf course was redesigned and renamed the Wynn Golf Club. More space was added by buying private residences in the vicinity. Wynn hired Marnell Corrao Associates to build the resort, which cost $2.7 billion and was the largest privately-funded construction project in the U.S. at the time. Its name was changed from "Le Rêve" to Wynn Las Vegas. It officially opened in April 2005.
Business model of Wynn Las Vegas
Wynn Las Vegas has a mass market business model, with no significant differentiation between customer groups. The company targets its offerings at all consumers who desire hospitality and entertainment services.
Wynn Las Vegas offers three primary value propositions: innovation, cost reduction, and brand/status.
The company has embraced innovation throughout its history. Its groundbreaking efforts include the following:
- Tallest hotel building on the Vegas strip upon its completion, a record that lasted two years
- First Las Vegas casino to feature a car dealership, Ferrari-Maserati
- First combination of a room key and a casino frequent-player card into a single card
- Largest distribution of HDTV into hotel rooms in the world
- Largest installation of voice-over IP technology for hotel phones
- First Las Vegas casino to install RFID tags inside chips to better detect counterfeiting
The company reduces costs through its Wynn Insiders loyalty program. The program offers the following benefits:
- The lowest hotel prices available anywhere, guaranteed
- 15% off every room booking with no black-out dates
- The Wynn Rate Promise: easy changes to reservations, no hidden fees, and special offers
The company has established a strong brand due to its success. It is the world’s seventh largest hotel, and is on the Standard & Poor’s 500 and NASDAQ 100 indexes. It has earned the following:
- The Tower Suites at Wynn Las Vegas received the Forbes five-star distinction nine years in a row
- The Spa at Wynn Las Vegas earned five-star recognition from Forbes for seven years in a row
- The Tower Suites at Encore at Wynn Las Vegas and the Spa at Encore at Wynn Las Vegas have also received Forbes five-star distinction
Wynn Las Vegas and Encore Las Vegas (its sister property) together have won more Forbes five-star awards than any other resort/casino worldwide. Wynn Las Vegas also made history by obtaining five-star ratings in every category (Spa, Restaurant, and Hotel) for two consecutive years. The resort has also earned Mobil five-star, Michelin five-star, AAA five diamond, and Zagat Survey Top U.S. Hotel ratings, in addition to a Michelin star for its Wing Lei restaurant. Lastly, it has been recognized by the Condé Nast Traveller Gold List as one of the "Top Hotels in the World".
Wynn Las Vegas’s main channel is its website. The company promotes its offering through its social media pages, advertising, and participation in trade shows and conferences.
Wynn Las Vegas’s customer relationship is primarily of a personal assistance nature. It provides customers with services such as room bookings, room upkeep, and room service. That said, there is a self-service component. The company’s website features Wynn Magazine, which offers informative articles on Food & Drink, Fashion & Style, and Art & Design.
Wynn Las Vegas’s business model entails designing, developing, and delivering its services for customers.
Wynn Las Vegas’s key partners are the suppliers that provide it with the products and services it needs to offer its services to customers. These include slot machines, retail goods, security and surveillance systems, ferry tickets, gaming equipment and accessories, construction, and other administrative services.
Wynn Las Vegas’s main resources are its physical resources. Its integrated Las Vegas resort of Wynn Las Vegas and Encore at Wynn Las Vegas features 186,000 square feet of casino space with
232 table games, 1,849 slot machines, and two luxury hotel towers with a total of 4,748 guest rooms, villas, and suites. Wynn Las Vegas Encore includes 34 food and beverage outlets, 99,000 square feet of retail space, 290,000 square feet of meeting and convention space, an on-site 18-hole golf course, a Ferrari and Maserati dealership, two showrooms, three nightclubs, and a beach club. The company places a high priority on its intellectual property, with its trademarks important to its business.
Wynn Las Vegas has a value-driven structure, aiming to provide a premium proposition through significant personal service and frequent service enhancements. Its biggest cost driver is casino operation costs. Other major drivers are in the areas of food/beverage costs and administration.
Wynn Las Vegas has two revenue streams: casino and non-casino revenues.
info: Stephen A. Wynn previously held several leadership roles at Wynn Resorts, including President, Chairman, and CEO of Wynn Macau Limited. He also served as President, Chairman, and CEO of Mirage Resorts.
info: Matt Maddox previously held several leadership roles at Wynn Resorts, including Chief Financial Officer of Wynn Macau, Senior Vice President of Business Development for Wynn Las Vegas, and Senior Vice President of Business Development and Treasurer at Wynn Resorts.
info: Stephen Cootey previously held a number of leadership roles at Wynn Resorts, including Senior Vice President of Finance. He also served as Senior Vice President of Corporate Finance at Las Vegas Sands and as a Partner at Prides Capital.
info: John Strzemp previously held various leadership roles at Wynn Resorts, including Executive Vice President, Chief Financial Officer and Treasurer. He also held executive roles at a number of other Las Vegas casinos, including the Mirage Casino.
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