| Author | Message | ||
| Dave Wapinski (Davewapinski)
Junior Member Username: Davewapinski Post Number: 234 Registered: 8-2001 |
Didn't the last financing come from junk bonds and retirement funds? If so, that might no longer be available. | ||
| J. Grande (Jay)
Member Username: Jay Post Number: 445 Registered: 10-2001 |
I think the dealership is a great idea. People get caught up in trying to look the part of a high roller, what better way than to buy a Ferrari or Maserati to impress the ladies?  If you win at the tables then all the more reason to shop for a car! | ||
| Jack (Gilles27)
Member Username: Gilles27 Post Number: 433 Registered: 3-2002 |
I wonder if it will be like other casinos, where if you gamble enough, they'll comp your tune-up? | ||
| Mr. Doody (Doody)
Member Username: Doody Post Number: 270 Registered: 11-2001 |
ya just GOTTA love vegas! these guys are a hoot. the difference between justifying a $1.8B casino (which was touted as being the hugest bonehead play at the time - it wasn't) and justifying a $2.5B casino isn't that big of a leap. especially since he's done it already. he's not a first-timer. wynn's not a guy i'd bet against. not sure i'll short his stock, but i wouldn't bet against him either. he knows this game better than any of us do. that said, i kinda don't see the point to the car dealership, but who knows. the nearest dealers are five hours away in LA (eight hours to scottsdale or SLC), so maybe a local LV dealer is a smart move. doody. | ||
| Dave Wapinski (Davewapinski)
Junior Member Username: Davewapinski Post Number: 233 Registered: 8-2001 |
The Bellagio uses FileNET software to manage its operations. When they opened, they hired 6,000 people in 60 days using FileNET. I thought Wynn already owned the land. | ||
| Martin (Miami348ts)
Intermediate Member Username: Miami348ts Post Number: 2305 Registered: 5-2001 |
$250 Million Dollars in interest payment per year. Anybody with this kind of MOrtgage Payment on this board ? | ||
| Martin (Miami348ts)
Intermediate Member Username: Miami348ts Post Number: 2304 Registered: 5-2001 |
Hm, I am not sure what to think of that. Sounds to me somebody is getting bancrupt. It barely makes sense at $ 1.8Billion, but 2.5 can not make that kind of money in Las Vegas through the casino. A 20 million Golf Course requires $ 200 green fees to be profitable. The only profit center will be the dealership. | ||
| Ben Lobenstein 90 TR (Benjet)
Member Username: Benjet Post Number: 686 Registered: 1-2001 |
The part at the bottom caught my eye. I haven't added anything. -Ben The following is a direct cut and paste quote from this link: http://www.mycfnow.com/sh/travelgetaways/stories/travel-lasvegas-152488320020621-130600.html Cost To Build Le Reve: $2 Billion Bellagio Estimates Top Out At $1.8 Billion LAS VEGAS -- A few precious details were released last week on Steve Wynn's upcoming hotel-casino masterpiece, Le Reve, including the eye-popping price tag of almost $2.5 billion, making it the most expensive casino project ever. By way of comparison Bellagio, Wynn's former masterpiece, cost between $1.3 billion and $1.8 billion, depending on who you ask. To finance the project, Wynn is going to be taking out some monstrous loans, getting investors to pony up some cash, and taking his company, Wynn Resorts Ltd., public. The final tally will include about $1.4 billion for the actual construction and furnishing of the hotel and casino, more than $300 million for the land it sits on, more than $20 million for a new championship golf course, and about $24 million for a new Cirque du Soliel-type show plus a couple hundred million extra thrown at various "miscellaneous" pursuits such as insurance, interest payments, and airplanes. Groundbreaking is expected to happen by September, with completion now backed up to March of 2005 instead of the fall 2004 date that had originally been announced. When complete, the hotel will aim to out-luxury the luxurious competitors like Bellagio and Venetian and will include: An eight-story, tree-lined "mountain" along the Strip that will shield a three-acre lake. A 48-story hotel tower featuring 2,701 rooms, ranging in size from approximately 620 square-feet to more than 7,000 square feet. Most Vegas rooms average around 400 to 500 square feet. Approximately 100,000 square feet of casino space with more than 2,000 slot machines and 120 table games. 18 restaurants, many of which will come from celebrity type chefs. A 2,080-seat showroom featuring a water-themed show by Franco Dragone, the former Cirque du Soleil guy who did Mystere and O and is also designing the new Celine Dion show at Caesars Palace. An 18-hole championship golf course to replace the Desert Inn championship golf course that was already there. A high-end boutique shopping gallery. An art gallery to house some of Wynn's fabled collection, including masterworks from Picasso, Van Gogh, Cezanne, and others. A small convention center. Jobs for more than 7,000 people. A full-service Ferrari and Maserati car dealership. Yes, you read that last one right -- you'll be able to get an oil change for your Ferrari while you play a little baccarat or get a massage. |