Society & Culture

One Man's Role in Revitalizing the Vegas Strip

Vegas StripWith a pivotal role in revitalizing the Las Vegas Strip in the 1990s, Stephen Wynn has a formidable presence in the business and gambling industry. Even at a time when the country was experiencing a great recession, Las Vegas was turning into an economic dream. Using his skilled entrepreneurship, Wynn purchased investment stakes into properties that were failing or closed. Under his direction, they then turned into world-renowned gambling resorts. His economic success has had a ripple effect on opportunities for other entrepreneurs, workers, citizens, and visitors in the Las Vegas area.

Twenty-five years ago, Las Vegas looked incredibly different than it does today. The "strip" had none of the grandiose resorts lining the streets. It wasn't until the mid-1990s that the first hotel-casino was opened with only a hundred rooms. When Steve Wynn started investing in properties, it was considered by most to be a risky venture. With extremely high costs going into the luxurious style necessary to be successful in Vegas, he capitalized on this golden opportunity. He helped design build masterpieces that are known across the world. With names like the Bellagio, The Mirage, and Treasure Island, people are familiar with Steve Wynn's properties, Wynn Resorts, even if they don't recognize his name. Now, casinos are located inside grand hotel that have thousands of rooms.

According to wikipedia, Wynn is among the top 500 wealthiest people in the world. He didn't earn his billions by investing in the stock market. He invested in businesses that resulted in jobs for thousands upon thousands of people. The Las Vegas casinos and resorts that Wynn owns don't just employ people onsite, but also a massive amount of vendors and suppliers that keep those facilities stocked with what they need to stay open and running on a daily basis.

As the Las Vegas strip has boomed into the economic opportunity that it is, other businesses are also enjoying this tremendous success. More and more visitors pour into the city to spend money. They utilize public transportation, dine out at restaurants, buy tickets to show, and take trips outside the city to check out the beautiful natural scenery. This creates more money in tax revenue which builds better schools, puts extra police officers on the streets, and a solid infrastructure for citizens in the state of Nevada.

Steve Wynn isn't only focused on creating amazing casinos. He also has a top notch art collection by some of the greatest artists in the history of the world. Some of his pieces have been put on display in his resorts under a lease agreement. He charges a fee of $1 a year for them to have the art, and the company is required to maintain insurance and security to keep the art safe while on display. He has earned his billions while providing opportunities for others to make millions, a comfortable living working in one of his properties, or a fantastic vacation staying in a Wynn Resort.

A post by Kidal D. (3323 Posts)

Kidal D. is author at LeraBlog. The author's views are entirely his/her own and may not reflect the views and opinions of LeraBlog staff.
Chief editor and author at LERAblog, writing useful articles and HOW TOs on various topics. Particularly interested in topics such as Internet, advertising, SEO, web development, and business.

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