Big Wynn for Cotai
by Muhammad Cohen
Steve Wynn became a billionaire largely by defying conventional wisdom. People said Downtown Las Vegas was dead, yet he bought the Golden Nugget and made it a first class casino hotel. They said people wouldn’t pay top dollar for the Strip, yet he built Mirage, Treasure Island and Bellagio – transforming Las Vegas into a luxury destination. Now, in Cotai, Mr. Wynn has made a US$4.2 billion bet that he understands what diversification means better than the government does.
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