Competitive Analysis Wynn Resorts - 1001 Words

Competitive Analysis The strategy would be to expand into the already lucrative Macau casino market with one of are most successful casino/resort in the Las Vegas area, the Bellagio. MGM already has a foothold hold in Macau Market, which is provided due to a partnership with Pansy Ho and the successful MGM Macau. The main competition in this area is: Las Vegas Sands Corp. (LVSC), which have 7 properties in the Macau area, Galaxy Entertainment Group (GEG), which have 3 properties and Wynn Resorts Ltd. (WYNN), which have two. Competitive Environment Competition comes in the form of three Corporations: Wynn Resorts (WYNN), Galaxy Entertainment Group (GEG) and Las Vegas Sands Corp. (LVSC). All three have laid claim to success in the Macau casino market, with annual gambling revenues of more than $13B, it is the largest casino gambling jurisdiction in the world (gaming.unlv.edu, 2015). Wynn Resorts (WYNN) is a corporation that is publicly traded based out Paradise, Nevada. Steve Wynn founded the company in 2002. WYNN has four casino properties in the world; two based in Las Vegas and two in Macau. The Las Vegas properties are the Wynn Las Vegas Resort and Country Club and the Wynn Encore. Their Macau properties are the Wynn Macau Resort and the Encore at Wynn Macau. Wynn is traded on the NASDAQ exchange and as of 9/9/15; stock was listed at $74.88 (phx.corporate-ir.net, 2015). The Wynn Las Vegas generated $528M in earnings before income, taxes, depreciation, andShow MoreRelatedCompetitive Analysis : Wynn Resorts Essay856 Words   |  4 PagesCompetitive Analysis The strategy would be to expand into the already lucrative Macau casino market with one of are most successful casino/resort in the Las Vegas area, the Bellagio. MGM already has a foothold hold in Macau Market, which is provided due to a partnership with Pansy Ho and the successful MGM Macau. The main competition in this area is: Las Vegas Sands Corp. (LVSC), which have 7 properties in the Macau area, Galaxy Entertainment Group (GEG), which have 3 properties and Wynn ResortsRead MorePorters Five Forces on Wynn Resorts746 Words   |  3 Pagesvisit. However, Steve Wynn has made a fortune in Vegas. Pearce Robinson (2013) states, â€Å"From humble beginnings with a family run bingo parlor in Maryland, to Chief Executive Officer and Chairman of Wynn Resorts LTD, premium destination, world class Casinos and Resorts (p. 30-1). Wynn Resorts operates the Wynn Las Vegas and the Wynn Macau, located in the Special Administrative Region of the People’s Republic of China. Prior to thi s, Wynn enjoyed success as leader for Mirage Resorts. He was instrumentalRead MoreResorts989 Words   |  4 PagesWynn Resorts: answer the following questions in APA Format 1. What is the importance of Mr. Steven Wynn himself, to the company? What potential problems could arise if he left the company? 2. What are the strengths and weaknesses of Wynns Macau (Peoples Republic of China) strategy? 3. What are the three main issues that Wynn Resorts must focus their efforts on in order to preserve their two largest revenue sources: the Wynn Las Vegas and Macau?   Mr Steven Wynn pursued his fervor as an entrepreneurRead MoreWynn Resorts Case Study1697 Words   |  7 PagesEXECUTIVE SUMMARY Wynn Resorts, Ltd. is one of the leading names in casinos and resorts. It is distinguished from its competitors because only Wynn Resorts offers high class service and it offers the most luxurious experience to its customers. The man behind the success of Wynn Resorts, Ltd. is Mr. Stephen Wynn, the CEO. Wynn Resorts, Ltd. owns and operates Wynn Las Vegas and Wynn Macau. Wynn is currently considering plans of expansions in Coati and even here in the Philippines. Wynn is relativelyRead MoreWynn Resort1511 Words   |  7 PagesHistory Wynn Resorts, LTD was formed by former Mirage Resorts Chairman/CEO Steven Wynn on October 25, 2002, who currently serves as the Chairman of the Board and CEO of Wynn. His knowledge of the gambling and casino industry is indispensable to Wynn Resorts, as he is accredited to turning the luxury casino industry in Las Vegas into what it is today. Wynn’s mission is: â€Å"A commitment to providing an elegant environment, high quality amenities, a superior level of service and distinctive attractionsRead MoreInustry Competitor Analysis-Casino Hotel7793 Words   |  32 PagesExecutive Summary The center of our industry and competitor analysis research is MGM Mirage, the second largest casino hotel operator in the world with $7.2 billion in revenues in 2008. The only company that surpasses MGM Mirage by revenue and scale is Harrah’s Entertainment Inc. with $10.8 billion in revenues in 2008. Other competitors that should be considered are Las Vegas Sands Corp. and Wynn Resorts Ltd with respectively $1.7 and almost $1 billion in revenues in 2008. OurRead MoreWynn Resort - Company Analysis4388 Words   |  18 PagesEXECUTIVE SUMMARY Wynn Resorts Limited is a publicly traded corporation based in Paradise, Nevada that is a developer and operator of high end hotels and casinos. It was formed on October 25, 2002 by former Mirage Resorts Chairmen and CEO Stephen A. Wynn. The target client base for Wynn Resorts are affluent individuals who seek the highest quality—Wynn and its sister property Encore hold more Forbes Five Star awards than any other casino resort in the world. Recently, Steve Wynn has taken his brandRead MoreExternal Analysis Of Mgm Resorts International Essay1815 Words   |  8 PagesIII. External Analysis of MGM Resorts International 1. Are any changes taking place in the macro-environment that might have a positive or negative impact on the industry in which your company is based? Apply the PESTEL framework to identify which factors may be the most important in your industry. What will be the effect on your industry? Changes in the macro-environment today that could have effects on the Hotels, Casinos, and Resorts industry would be political things with the recent electionRead MoreMgm Mirage Case Study3781 Words   |  16 PagesNevada. The two people responsible for the start of this empire are Kirk Kerkorian and Steven Wynn. Kirk Kerkorian opened up the first MGM Grand in Las Vegas, Nevada in 1973. Steven Wynn moved to Las Vegas in 1967 and after investing in land on the strip he later opened up the Mirage, followed by Treasure Island and the Bellagio. The MGM Mirage was created during the merger in 2000, and Steven Wynn is no longer affiliated with this company. Since this merger, MGM Mirage has grown and acquiredRead MoreLas Vegas4010 Words   |  17 PagesECON 230: Urban Economics (G2) Term Paper: Business Location Decisions amp; Patterns: An Analysis of the Agglomeration Effects in Las Vegas Table of Contents Introduction 3 Motivation 3 Background and History 3 Las Vegas Strip Today 6 Location Quotient of Las Vegas 7 Development Phases of Las Vegas 8 The First Wave of Development 9 Supply-side Factors 9 Demand-side Factors 10 The Second Wave of Development 11 Demand-side Factors 11 Supply-side Factors 13 Summary