Wynn esorts Ltd. is a premium destination world class Casinos and esorts that was founded by Steve Wynn. The founder of this company is regarded by many as a visionary who has transformed the City of Las Vegas through establishing one casino at a time. In its initial years, Wynn esorts Ltd. operated at small stakes in 1967 in the Frontier Hotel in which it was a newcomer to Vegas. Currently, the firm owns and operates various businesses including the Wynn Macau in the People's epublic of China and Wynn Las Vegas. Wynn esorts Ltd. is also in the process of developing The Encore Diamond Suites, which is an expansion to the Wynn Las Vegas. Moreover, the firm continues to explore various opportunities to develop extra gaming and associated businesses in other domestic and international markets.
Growth and Expansion Strategy of the Firm:
As previously mentioned, Wynn esorts Ltd. is…… [Read More]
Wynn esort Case
Wynn esorts Case Analysis
The combined effects of an aggressive new resort development strategy, continued partnering with the Chinese government to stabilize and grow the investment in Macau, and the continual refining of the existing properties has led to FY2010 being one of significant turn-around. With $1.5B in current assets and $160M in Net Income, Wynn esorts Ltd. (WYNN) is in an excellent position to profitably grow over time. Despite this impressive turn-around in financial performance, which is also reflected in the financial ratio analysis shown in Appendix A, Wynn still faces challenges globally, both in the form of potential opportunities and threats. The intent of this analysis is to define the company's strategic leadership issues, complete a SWOT analysis of the company, and define the suitability of the company's business strategy to its current situation. The analysis concludes with suggestions for improving Wynn's strategy given the…… [Read More]
The talent, energy, and leadership style that has led to the phenomenal success hotel / resort developer Steve ynn has enjoyed is the subject of this paper. ynn was born in New Haven, Connecticut on January 27, 1942. He received a degree in English from the University of Pennsylvania, and after his father's death in 1963 he took over his family's bingo business in Maryland. Four years later he moved to Las Vegas, and began a legacy of building resorts with more flair and more success than anyone previously had shown.
ynn's Style of Leadership
hile mentioning just a few of his Las Vegas developments and acquisitions -- the Golden Nugget, The Mirage, Treasure Island, Bellagio, the ynn and Encore -- it can be said with succinctness that he is worth an estimated $3.2 billion and has built numerous hotels, resorts, and casinos all around the world. He…… [Read More]
Casinos also pay taxes to the government which again means that the local community loses the money gained by the casino. Another way in which the local economy does not benefit from the casino is when the casino gets its supplies from external suppliers or the casino owners live outside the casino's economic area. Some of the casino profits can also be lost as a result of government services provided in that area like providing better roads and traffic control to the casino. (Hsu, 1999)
The casino may also require additional police protection and judicial activity in case criminal activity goes up in the region. Las Vegas has also had its own share of problems as an off-shoot of the phenomenal success of casinos there. It has had to deal with air pollution, shortage of water, inadequate methods of mass transportation and other infrastructure related problems. Despite these problems, Las…… [Read More]
Superior Customer Value
eginning in 1998, Harrah's decided that it wanted to change its business culture from an operations-driven company that viewed every casino as a stand-alone property to a marketing-driven company with a holistic view of its properties and customers (light and Turk, 2004). The organization structure was revamped to become a national distribution network with a single, unifying brand. The company was then able to execute its corporate growth strategy, one that sought loyalty to increase same-store-sales growth. This required convincing gamblers to spend less at competitors and more at Harrah's. As discussed in this paper, enterprise collaboration, competitive positioning focused on customer service and gaming in the middle market, supply chain optimization, and regulatory considerations are all significant factors affecting Harrah's ability to deliver superior customer value.
Instead of building glitzy casinos with attractions such as volcanoes, sinking ships and replicas of the Eiffel Tower, Harrah's…… [Read More]