So, I Was Talking To Steve Wynn Today And...
It's not often that one gets to preface a story with "So, I was talking to Steve Wynn today and..." Particularly a monumental peon like me.
As luck would have it, my attempt to corner Mr. Wynn at Wynn Las Vegas today to pose a slew of non-threatening questions about his vision for Wynn Cotai, didn't pan out.
So, I guess I'll have to wait until another day to have the pleasure of publishing a story prefaced by "so, I was talking to Steve Wynn today..."
Anyhoo... I just got back home from a 24 hour blast out to Vegas (to meet up with two of the funniest guys I've had the pleasure to meet through VT - donnymac and spyder) and I thought I might respond to a handful of questions y'all have posted.
Reader BrokenQB left a comment with two points, one of them pointing out my error about Melco/MPEL stating their earnings, yes. I meant Melco but typed MPEL. Thanks for catching my goof, apologies.
BrokenQB also asked "can you share with us some of the other info MPEL shared with you?" I've already posted 95% of what we talked about in : CoD Cotai Construction Update, Hard Rock Interiors (coupla bits) and the Round and Round posts.
Some of it is in the articles, some of it is in the comments. The MPEL folks asked me to keep a lid on everything until after the ceremony. I counter offered, saying that I wouldn't trumpet a singular post with all the information and would instead trickle stuff out as the topping off ceremony approached. They said that was ok and thats pretty much what I did.
There are a bunch of other things that we talked about which they were supposed to get back to me about, which they haven't. Specifically, these items were the condos at CoD - which they're still designing, therefore no answers, Mocha Slots increasing the number of the number of Mochas as well as expanding the square footage of specific ones (they were to tell me which ones were expanding and where the new ones would be). I also requested renderings of the property, which they said they would forward after the topping out (which they probably forgot about, but I managed to get one anyway.)
As for stuff I haven't posted yet, it's mostly a grab bag of details.
The Dragone show at City of Dreams will be in the "West Stage Theatre" which will be designed by legendary architect I.M. Pei's firm. The show will open (tentatively) in fall 2009.
Crown Macau - most hotel rooms are now reserved for junket players, they wouldn't give me a percentage, but they inferred that the public reservation availability was less than few and far between. Also, rolling chip volume has grown +HK$10B month over month since November. They told me that it was currently HK$30B a month ago, which inflated to HK$50B in Melco's report. If you've read the financials then you already know that Crown Macau is roaring.
Also, there's a very high-brow MPEL centric investment discussion raging on The Board headed up by reader/investor number genius macauman. I haven't had time to digest it - it's pretty high level mathematics and investorspeak that is a bit above and beyond my scope of expertise. Which is probably why I don't have private meetings with Steve Wynn wherein we discuss plans for Cotai while listening to Debussy in the glow of a gorgeous Monet.
Not that I'm holding my breath for the occasion - I had a Steve Spotting about 18 months ago - but there's always the possibility if one holds out bait long enough. Sooooooo.... (here comes the great grovel boolean statement) IF one of our anonymous readers works at Wynn Macau (i think theres at least three of you) AND you are OR know someone who knows someone who would like to talk to us about Wynn Macau or Cotai or anything in the realm of 'his Steve-ness' THEN please get in touch.
I don't bite. Most of the time.