as nasdaq wynn s & p 500 component industry hospitality tourism founded 2002 ; 14 years ago 2002 1 founder stephen a. wynn headquarters paradise nevada u.s. area served united states and china key people stephen a. wynn co founder chairman ceo ronald kramer president and director 2002 2008 2 products resorts casinos gaming entertainment revenue 5.62 billion 2013 3 operating income 1.29 billion 2013 3 net income 1.004 billion 2013 3 total assets 8.377 billion 2013 3 total equity 132.351 million 2013 3 number of employees 16 500 dec 2013 3 website www.wynnresorts.com 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 chairman and ceo stephen a. wynn . as of 2013 update the company has developed four properties . 1 contents 1 history 2 effect of the recession on las vegas and macau operations 3 properties 4 sources 5 references 6 external links history edit in 2000 steve wynn agreed to sell mirage resorts to mgm grand in a hostile takeover after having led mirage and its predecessors since 1973 . wynn laid the foundation for his next venture that same year buying the desert inn for 270 million . 4 wynn found an early partner in japanese billionaire kazuo okada of universal entertainment corporation . 5 wynn together with universal subsidiary aruze usa controlled almost half the stock making it harder for outside investors to exert control as they had done at mirage in response to wynn s prolific spending . 4 6 wynn hired investment banker ronald kramer as president and director in 2002 in order to help take the company public and oversee its expansion . 2 wynn resorts made its initial public offering on nasdaq on october 25 2002 . the company s first project wynn las vegas opened on april 28 2005 . wynn macau the company s second project started construction on june 28 2004 . it opened september 5 2006 . encore an extension to wynn las vegas broke ground on april 28 2006 the first anniversary of the opening of wynn las vegas . steve wynn announced a planned redevelopment of the golf course at wynn las vegas called wynn golf and country club into two separate resorts and a large lake connected by the wynn parkway . redevelopment will not take place before 2009 . encore at wynn macau the company s second project in macau peninsula macau people s republic of china opened on april 21 2010 . wynn bought 52 acres 21 ha of the cotai strip in macau where he hopes to break ground in 2012 for wynn cotai for a 2013 or early 2014 opening . the company considered opening a casino as part of the entertainment city development in the philippines but decided against it because of corruption in the country s gaming industry . 6 okada decided to proceed with the project alone leading to the rupture of his partnership with wynn . the dispute went public with reciprocal accusations of corrupt practices . wynn and his allies accused okada of bribing philippines gaming regulators with over 110 000 in benefits including free nights in a luxury suite at wynn las vegas while okada questioned the propriety of wynn resorts record 135 million donation to the university of macau . 5 okada resigned as vice chairman in october 2011 and the following february after a company investigation by the freeh group confirmed the charges against him the board of directors forced aruze usa to sell back its shares at a nearly 30 % discount . 5 aruze had been the company s largest shareholder with a 19.7 % stake . on september 17 2014 the massachusetts gaming commission voted to approve wynn resorts proposed 1.6 billion casino to be located in everett massachusetts just north of boston . 7 effect of the recession on las vegas and macau operations edit in las vegas the 1st quarter of 2009 was the first where the encore was fully operational after its opening on december 22 2008 . the prior year quarter includes only wynn las vegas . overall revenue from the resort increased from 327.2 to 345.9 in the first quarter a very modest increase considering the additional hotel tower and new food and beverage outlets . despite the additional casino at the encore which added 97 tables and 857 slot machines to the original 190 tables and 2000 slots net casino revenues for the combined resort were lower than the first quarter of 2008 when only the wynn was operating . net casino revenues for the combined resort dropped from 125.1 million to 117.5 million . gross non casino revenues for the quarter were 228.4 million a 13.3 % increase from the first quarter of 2008 driven primarily by higher hotel and food and beverage revenues resulting from the opening of encore . although the added 2 034 suites at encore nearly doubled the suites in the property hotel revenues were up only 20.6 % to 85.1 million during the quarter versus 70.6 million in the first quarter of 2008 due to declining room rates and lower occupancy rate . food and beverage revenues increased as a result of the additional 12 food and beverage outlets located in the encore expansion . retail revenues declined and entertainment revenues also decreased primarily due to the closure of the spamalot production show in july 2008 . 8 in the first quarter of 2009 net revenues of the macau operations declined to 448.7 million compared 491.5 million in the first quarter of 2008 . gaming on the vip tables declined drastically . properties edit image logo property location date opened wynn las vegas resort & country club las vegas strip nevada april 28 2005 wynn macau resort macau september 6 2006 encore at wynn las vegas las vegas strip nevada december 22 2008 encore at wynn macau macau april 21 2010 wynn palace cotai strip macau august 22 2016 wynn boston harbor everett ma 2018 sources edit las vegas sun references edit a b two of a kind fortune paper format requires url help p. 22 29 april 2013 a b stutz howard 18 march 2008 . wynn loses company president . las vegas review journal . retrieved 16 january 2013 . a b c d e f wynn resorts limited form 10 k securities and exchange commission february 28 2014 a b palmeri christopher 26 april 2005 . the revenge of steve wynn . msnbc . retrieved 3 march 2012 . a b c bradsher keith 2 march 2012 . wynn resorts partners split and accusations fly . the new york times . retrieved 2 march 2012 . a b sieroty chris 21 february 2012 . okada wants court to stop stock seizure ; wynn says game over . las vegas review journal . retrieved 2 march 2012 . http www.wbur.org 2014 09 16 wynn everett casino proposal preferred wynn resorts limited reports first quarter results . external links edit companies portal wikinews has related news world s most expensive hotel casino opens in las vegas wynn resorts limited v t e wynn resorts macau wynn macau encore at wynn macau wynn palace massachusetts wynn boston harbor nevada wynn las vegas encore las vegas key people stephen a. wynn v t e 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