30, Wynn gave away a few details about Encore, such as the large glass windows that allow casino customers to look out onto the resort’s grounds. “Service levels will still be beyond expectations,” Lerner said.ĭuring Wynn Resort’s quarterly earnings conference call Oct. Since it’s attached to the 2,700-room Wynn Las Vegas, the properties will share back-of-the-house operations. If you do that, it’s tough to get them back when the market improves.” Lerner said Wynn Resorts will see some operating efficiencies from Encore. “There won’t be discounted rates or reduced price points. “It’s not going to change the way he opens the property,” Lerner said. But he doubts Wynn Resorts Chairman Steve Wynn will hold back on the property’s grand opening extravaganza. Lerner said Encore will probably take some business from Wynn Las Vegas and draw customers from neighboring Strip resorts. On the Strip, gaming revenues have declined more than 6 percent in 2008 through September.
10.ĭeutsche Bank gaming analyst Bill Lerner doesn’t think Encore’s opening will grow the market in an environment hampered by a slow economy and reduced consumer spending. On Wednesday, Encore began selling tickets for entertainer Danny Gans, who will perform in the resort’s theater beginning Feb. The resort will open at 8 p.m., three days before Christmas, with 72,000 square feet of casino space, five restaurants, 11 retail outlets, a nightclub and a luxury spa.
to change its style.Įncore, with 2,034 hotel rooms, is attached to Wynn Las Vegas. 22 in the middle of what many have called the worst economic crisis ever to hit the Strip and the gaming industry as a whole.īut don’t expect Wynn Resorts Ltd.
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