Online Gambling Pal
December 14, 2011 by staff
Online Gambling Pal, If Patriots owner Robert Kraft is able to wangle a deal with his buddy, gambling magnate Steve Wynn, to build a casino complex near Gillette Stadium, he will have secured a partnership with a friend who has the deepest of pockets and a long record of success in the gaming industry.
Wynn, 69, the CEO of Wynn Resorts Ltd., is the 512th richest man in the world, with a net worth of $2.3 billion.
A spokesman for The Kraft Group said in a statement that Steve Wynn, the CEO of Wynn Resorts Ltd., will attend Sunday’s game between the Patriots and Indianapolis Colts. During his visit he will also meet with Foxborough residents to determine if there’s “mutual interest” in a resort.
The New Haven, Conn., native born Stephen Alan Weinberg, has a string of Las Vegas resorts under his belt, including the Golden Nugget, the Mirage, Treasure Island, Bellagio, Wynn and the Encore. His past has been as colorful and dramatic as it has been lucrative.
After graduating from the University of Pennsylvania with a degree in English literature, Wynn took over his father’s bingo parlor empire, which came laden with a $350,000 worth of gaming debts following his father’s death after open heart surgery.
Wynn did well enough with that enterprise to be able to buy a stake in a Frontier Hotel and Casino in 1967, moving there with his wife, Elaine. He also owned a wine and liquor importing business and in four years’ time had become successful enough that he was able to gain a controlling interest in the landmark downtown Las Vegas casino the Golden Nugget.
He renovated and expanded the Nugget into a four-star resort, setting a pattern for the years to follow when he became a driving force behind the successful revitalization of downtown Las Vegas. He expanded his gaming empire to Atlantic City as well, building a Golden Nugget on the boardwalk there in 1980.
Seven years later, he sold the Nugget for $440 million, using the profits to embark on a more ambitious project, the lavish Mirage resort, which features an indoor forest and a volcano.
In the early 1990s, he went on to open the $1.6 billion Bellagio resort, as well as the Treasure Island and Wynn Las Vegas resorts. The Bellagio alone is considered one of the most spectacular hotels in the world, built complete with an indoor lake and an art gallery.
He became a billionaire in 2004, able to purchase a $33 million Rembrandt to display at the Bellagio, and a $48 million Picasso, which he accidentally put his elbow through while showing it to guests, but Wynn wasn’t content to rest on his laurels. He successfully bid for one of three gaming concessions offered in Macau, in the People’s Republic of China, and opened the Wynn Macau in September 2006.
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