[calisoccer99]

RIP north end of the strip with Wynn gone

[foundapeanut]

Murren works for the MGM, he doesn't have that kind of money.

Adelson, friend works for him as a big shot. Says he likes the guy and we like not paying for parking. Which A says he'll never charge for.

[BBMW]

I meant under the auspices of MGM. He runs that show.

Having said that, if Murren left MGM, and wanted to buy Wynn (the company) I don't doubt that he could put together an investor group to fund the acquisition, much like Wynn (the person) did.

Originally Posted by foundapeanut

Murren works for the MGM, he doesn't have that kind of money.

Adelson, friend works for him as a big shot. Says he likes the guy and we like not paying for parking. Which A says he'll never charge for.

[Willy702]

Originally Posted by BBMW

I meant under the auspices of MGM. He runs that show.

Having said that, if Murren left MGM, and wanted to buy Wynn (the company) I don't doubt that he could put together an investor group to fund the acquisition, much like Wynn (the person) did.

Certainly they will look at it, but the MGP angle makes it a little tough now. Not sure if they can buy the Wynn assets at a price that works and its further complicated by how much they cannibalize the high end business.

Sheldon will certainly look at it as well, but I don't know if they quite work with his strategy nor his moves to minimize the importance of the US and start to become a fully Asian-focused company.

Caesars could use it and having the VICI vehicle could help get them there. Same issues with MGM though, question the high multiple it will cost and how much cannibalization they already deal with.

Best outcome for everyone is if a non-established player comes in and buys it. No one will compete at the high end like a Steve Wynn run property. That database the property has will be less valuable no matter who buys it. Funny thing is the Lucky Dragon came in thinking they could beat the Wynn at that customer and largely could not get them. Once this all shakes out the Lucky Dragon might be modestly viable. Certainly has to be redone and rethought, but the high end Asian player from the West is a market that Wynn owns, Resorts World covets and the Lucky Dragon absolutely needs.

[foundapeanut]

Richard Branson?

Maybe some tech billionaire?

[BBMW]

^
More likely than that would be some non Vegas operator who would want into both the Vegas and Macau markets, and to play into higher end player market.

[Willy702]

Originally Posted by BBMW

^
More likely than that would be some non Vegas operator who would want into both the Vegas and Macau markets, and to play into higher end player market.

The two parts will be split up in all likelihood. There is already a good partition between the two with legal structure and separate stock issues, the Las Vegas based company owns much of the Macau entity so it can sell it off first to the high bidder before selling itself to another bidder. Galaxy seems very likely to buy up controlling interest in the Macau business. To fund it and avoid concentration issues may sell the smaller Wynn Macau property on the peninsula to another party, while keeping the Wynn Palace on Cotai and some of the tables approved for the Wynn Macau. Hard part will be rebranding the Wynn Macau as its a smaller scale carbon copy of the Wynn Las Vegas.

[foundapeanut]

Originally Posted by calisoccer99

RIP north end of the strip with Wynn gone

Its not like they are going to tear down the Wynn hotels. The lake will take that area to a whole new level. https://www.youtube.com/watch?v=jaCvVlmtOto

The new 'DREW' will bring some excitement to the area. if the name doesn't kill it.

We used to go to the Wynn often, to eat, shop, just kill some time. I realize I'm really not their market as we never gambled. We quit going when they started charging for parking. Can afford the $20.00 but there are just as nice of places we can go without paying for parking. It's just that we were spoiled and not used to it.

Caesars sent us a VIP card for free valet at the Forum shoppes. We like the eating there and we can cross into Caeasars easily and eat there too.

Whose a non Vegas operator that could afford the Wynn? Don't know that much about gaming outside Vegas and its big names. Would think if you got the money, you'd be here already but what do I know about gaming.

[robr2]

Is Wynn Corp up for sale or are folks just tossing out what if's?

[Willy702]

Originally Posted by foundapeanut

Whose a non Vegas operator that could afford the Wynn? Don't know that much about gaming outside Vegas and its big names. Would think if you got the money, you'd be here already but what do I know about gaming.

You don't need money, you need money-raising capacity. Few companies have that much cash sitting around, but can tap the bond market and secondary share offerings to get the money to buy these assets. That's how private equity has been a big part of recent Las Vegas transactions such as Cosmo, Fontainebleu/Drew, and the SLS. Kind of a weak track record on those deals, but doesn't mean more won't show up to bid.

A few tribes have more cash than anyone and they also have structures that can raise a lot more money through debt issues. The Asian gaming companies have even more cash, but they too would prefer to raise the money to keep their equity contribution as small as they can. The question is of these two groups, who is willing to get a Nevada license?

Add in the usual suspects and the list of potential bidders is quite long.