Strip rumors come and go with such speed that it’s hard to know whether this one about Steve Wynn and MGM Mirage is new or merely recycled.
But here it is:
As the Strip’s titans work overtime to pull out of their suicide stock dives, Steve Wynn is making dollar signs in the sky above Las Vegas Boulevard. Sure, his share price has dropped, but compared to the ultra-light shares at MGM Mirage and Las Vegas Sands, Wynn Holdings is a veritable Boeing 767.
Wynn might be divorcing wife Elaine, but he’s not separating himself from Las Vegas. In fact, word is that in recent days he has been
resort shopping. One on his list is the Bellagio, the centerpiece of his previous empire.
I’m hearing these days he’s capable of taking more than Bellagio off MGM Mirage’s hands.
MGM, of course, is negotiating with Colony Capital for a potential partnership investment in the troubled CityCenter.
Maybe it’s just wishful thinking from some of Wynn’s friends, but you have to believe the man who built the Mirage, Treasure Island and Bellagio wouldn’t mind having at least one of them back.
Insight from those who know this sort of thing would be appreciated.