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Rumors surface that MGM may buy Wynn Resorts

Discussion in 'Vegas News' started by Funkhouser, Apr 5, 2018.

  1. Funkhouser

    Funkhouser Regional Gambling Specialist
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  2. Wanker751

    Wanker751 Palladium
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    Tessa QC likes this.
  3. dvandentop

    dvandentop Chairman
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    Good lord I hope not wynncore is still nicest property in Vegas I can imagine what pgp bean counters will do
     
  4. IrishDave

    IrishDave Palladium
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    Think Bellagio...
     
  5. pphold

    pphold Palladium
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    That would suck for me. But I have no control over this

    That would make MGM the evil empire if they bought Wynn.

    Wonder if they will rename it
     
  6. PACKER

    PACKER Las Vegas DEGENERATE! Are you?
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    Not surprised but terrible news..
     
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  7. dvandentop

    dvandentop Chairman
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    Yep went down hill since my 1st visits in upkeep
     
  8. CherriesJubilee

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    Bellagio? How so? I was thinking about staying there just to try it out. Normally I'm at Aria/Cosmo.
     
  9. NickPappageorgio

    NickPappageorgio The sucker at the table.
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    That would be.....not ideal.
     
  10. DRPinVa

    DRPinVa As always, inspired by MrsDRPinVa
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    Ouch....this might hurt... a lot.
     
  11. Indianasoxfan

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    Guess anything is for sale at the right price. More competition is needed on the strip, not less.
     
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  12. DRPinVa

    DRPinVa As always, inspired by MrsDRPinVa
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    According to an article in the Wall St. Journal today, "the talks, which pertain to the Wynn Boston Harbor property and no other parts of the company's gambling empire, are at an early stage and may not result in a deal"
     
  13. dvandentop

    dvandentop Chairman
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    Would be interesting for sure if they scooped up this under construction property too late prob to make many changes to what MGM prefer for something design wise
     
  14. Chuck

    Chuck Platinum
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    The outside construction is 3/4ths done, way too late to change anything about the layout. Enough time to mess around with the interiors though. The hotel building is designed to look like Wynn and Encore and it's already 3/4ths cladded in glass. As far as that goes, it'll actually be much less distinctive than any of their Vegas properties.
     
  15. NickPappageorgio

    NickPappageorgio The sucker at the table.
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    Wynn's Earning's call was today

    1. One of the two planned new resorts (Paradise Park or Wynn West) is off the boards.
    2. Plans for Paradise Park are now to make it for hotel guests only
    3. Wynn is going ahead with $100 Million investment in Wynn Macau ahead of schedule
    4. Wynn is looking to get one of the anticipated Japanese Gaming licenses.
    5. Selling Wynn Boston is a definite possibility going forward.
    6. OF COURSE Maddox says no sale is imminent (but they are rumored to be interested in the Boston project.)
    7. Growth at Wynn Las Vegas was only 3%.
     
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  16. 44inarow

    44inarow Cool Story Bro
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    If I had to guess, I'd say that it's Wynn West which isn't going forward (since they've already started tearing things up for Paradise Park), and that they'll sell Wynn Everett but not to MGM. MGM would be a logical operator, but Massachusetts tends to be... strict, shall we say, when it comes to their licensing. After all, they're the reason that it's the Cromwell and not the Gansevoort. I just don't see them essentially granting a monopoly to MGM, given the Springfield development coming online soon.

    Problem with Everett is that at least as constructed so far, it's too Wynn-esque in terms of its architecture. What I could see happening, if they can raise the cash, is Penn coming in. Marnell developed both the Wynn and M Resort, plus there's a lot of design aesthetic in common. And coming into a brand-new jurisdiction, I'm not sure the loss of Roger Thomas interior design would be a huge problem. I'm just not sure they can fund it.

    EDIT: Speaking of design, and of Roger Thomas, did the call say anything about that? I know that Steve Wynn deserves an enormous amount of credit in terms of resort design, resort operations, and resort financing, but I don't think Wynn's properties would have become what they are today without Thomas.
     
    #17 44inarow, Apr 25, 2018
    Last edited: Apr 25, 2018
  17. 44inarow

    44inarow Cool Story Bro
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    I'm sure he is, but if I'm Kazuo Okada, I'm doing everything I can to keep Wynn out of there. And I'm pretty sure Okada has more pull in town than Wynn does.
     
  18. Chuck

    Chuck Platinum
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    I don't think Wynn will sell Boston unless they absolutely have to.

    If MGM wanted to buy Wynn Boston, they'd have to sell Springfield, and the math would have to work, but I'm sure they would do it if it does.

    The Wynn Boston building is designed to look (from the outside) like the Vegas hotels, but that's actually pretty generic. It means something to people who go to Vegas a lot, but it doesn't to anybody else. MGM probably could cheap out on the room furnishings.

    Some work is still being done on Wynn Boston, but I'm not sure exactly what. My train goes past it every day, I see the crane positions change between the morning and afternoon. They were cladding the outside with glass pretty quickly, but that stopped a couple of months ago. It's only 2/3rds done.
     
  19. 44inarow

    44inarow Cool Story Bro
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    Agreed 100%. And it's especially generic as a Marnell design; it's essentially the same as Bellagio/Mirage/TI, except without the back leg of the tripod and rounded off. What a buyer probably would want to do is swap out the brown/gold panels for another color (both to avoid the association with Wynn, and because that'd probably be considered enforceable trade dress), but that's not an enormous cost.

    As an aside, MGM announced this morning that they're actually planning to open Springfield ahead of schedule, so I highly, highly doubt they're now going to try to pick up Everett and risk losing Springfield.
     
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