Elaine Wynn is a businesswoman who owns luxury hotels and casinos in Las Vegas and Macau. For more than 45 years, she has amassed a fortune of nearly $2,000,000,000, expanding two of Las Vegas' largest companies. Her achievements are so significant that in 2011, Elaine was included in the list of women self-made billionaires. There were only 19 people in it.

• Early Biography
• Stephen Wynn
• Mirage Resorts
• Bellagio and Beau Rivage
• Wynn Resorts
• Wynn Macau and Wynn Palace
• Another divorce and scandal
• Kidnapped daughter
• Achievements
• Philanthropy and the arts
• Where she lives

Early biography

Few facts are known about the childhood and youth of the future billionaire. She was born in 1942 in New York. Her parents are a middle-class Jewish family. Pascal School (maiden name) graduated from Miami Beach in 1960. While studying at George Washington University, Elaine met Steve Wynn, whom she married in 1963. Graduated from University in 1964 with a B.A. in Political Science.

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Обзор

Stephen Wynn

Elaine was introduced to gambling through her husband. In 1963, he inherited $350,000 from his father (in the form of players' IOUs), as well as the family's Bingo parlor in Wason Corner, Maryland. He took over the business by turning down a prestigious position at Yale Law School.

In 1967 the family moved to Las Vegas. Steven bought a company that imports spirits and wine, as well as some shares of the hotel andcasino Frontier on the Las Vegas Strip in Paradise, just opened after extensive renovations and extensions. Investments began to bring small dividends. Using connections, namely acquaintance with the president of the Bank of Las Vegas, who was the only one in the city to issue loans for gambling, Stephen closed a number of successful transactions.

В 1971 году Винн купил контрольную долю акций казино и отеля Золотой самородок и создал холдинг Nugget Companies Inc. В 1980-м он открыл казино в Нью-Джерси, но в штате Атлантик-Сити бизнес было вести сложно и заведение вскоре продали. В 1989-м Винны купили Невада Клуб в городе Лафлин, переименовав казино в Золотой самородок.

While Steven developed the gambling business, Elaine was always there and actively involved in it, even from 1986 to 1991 the year the couple was divorced.

Mirage Resorts

In 1989, Nugget Companies Inc opened the Mirage Casino - at that time it became largest project on the Las Vegas Strip. High-yield bonds were issued to attract investors.

Elaine has traditionally overseen architecture and design projects. For example, she insisted that the building of the complex be moved away from the road (Steve wanted it to start at the sidewalk). Her idea was to decorate the establishment in the style of the South Seas, to install a grandiose artificial volcano that impresses guests with realism.

The Mirage set new standards for Las Vegas:

• The game at all tables was monitored by video cameras.
• Concerts and shows were held with the participation of stars known throughout America. Often performed on stageFrank Sinatra.
• Sports competitions were arranged.
• The best circus actors and troupes were invited.
• Celebrity parties were held.

In 1993, after the re-planning of the Mirage complex, a place was vacated where the old parking lot had previously been. The company decided to build the Treasure Island Hotel and Casino there. At the same time, the couple did not deviate from the traditions laid down during the construction of the Mirage. The $450,000,000 facility featured two life-sized ships.

In 1994, Mirage Resorts partnered with Gold Strike Resorts to build a new casino with $344,000,000. For the construction of the object, a place was chosen on the Las Vegas Strip, where the Dunes entertainment complex had previously been demolished. In 1996, the institution opened under the name Monte Carlo Resort and Casino (now Park MGM) and was designed for customers with small budgets.

Bellagio and Beau Rivage

В 1998 The Winns invest $1,600,000,000 to build the Bellagio Hotel and Casino. At that time, this facility was the most expensive entertainment complex not only in America, but throughout the world. A grandiose musical fountain was built in front of the building. The casino gave a new impetus to the development of the Las Vegas Strip.objectsbegan to appear, the owners of which sought to keep up with the luxury of Bellagio.

Originally Bellagio planned to call Beau Rivage, but Stephen later changed his mind. In 1999, Mirage Resorts built a 1,835-room hotel in Biloxi, Mississippi. This facility was a first for the company outside of Nevada. The name Beau Rivage, which the new complex received, also came in handy. Because of the laws of the state, the casinos were located on barges, and the rest of the facilities were built on the shore.

Wynn Resorts

In 2000, Mirage Resorts was sold to MGM Grand for $4,400,000,000. that same year, the Wynn family laid the groundwork for a second company, purchasing the Desert Inn casino and hotel, which were demolished in 2001 to begin construction of a new tourist and entertainment complex.

The couple began a partnership with Kazuo Okada. The Japanese billionaire has invested heavily in a new company called Wynn Resorts. It was made public - the shares were placed on the NASDAQ stock exchange in 2002.

In 2005, the first project of Wynn Resorts, Wynn Las Vegas, was launched.

Wynn Macau и Wynn Palace

In 2006, the first Wynn Macau tower in China's Special Economic Zone opened, the company's first overseas project. This became possible after changes were made to the legislation of Macau. Since 2002, the right to conduct gambling began to be sold at auction, which opened the way to the market for foreign investors. In 2010, the second Wynn Macau Tower opened, housing the Encore Boutique Hotel with 1,008 rooms. Already before this event, the complex was expanded - added a playground, food stores.

In 2016, Wynn Macau received the Forbes Five-Star award for the eighth time, becoming a record holder in this regard.

In 2008, Wynn Resorts acquired land in Macau from an American company for $50,000,000. On September 12, 2011, it entered into an agreement with the government on a concession to develop a site in Cotai. In 2014, the foundation stone of the Wynn Palace resort complex was laid. The establishment opened on January 28, 2016, entering the list of the 20 most anticipated hotels of the year.

Another divorce and scandal

In 2010, the Wynn couple divorced again, but continued to work together. Steve received 12% of the company's shares, becoming the largest holder of securities. Elaine was in second place with a 9% share. She has remained on the board of directors, where she has been since 2002. Having received 11,000,000 shares, Elaine was earning approximately $60,000,000 a year in dividends - that's 3% of the company's income.

In May 2018, a scandal erupted. Steve was accused of sexually harassing several employees of Wynn Resorts. The case was settled. The amounts of payments to the victims were not disclosed. Under pressure from Elaine and other members of the board of directors, Steve was forced to sell his stake in the company. His ex-wife removed two of his associates from the board and became the company's largest shareholder. Her share is valued at $2,000,000,000. Elaine has become known as the Queen of Las Vegas.

Daughter kidnapped

In 2003, Kevin's 26-year-old daughter was kidnapped. The criminals contacted Steve, demanding $1,450,000. So that the casino guards would not suspect anything and call the police, he called them all to his office. At this time, Wynn went down to the vault and took the money. After 4 hours, the daughter was returned, and the kidnappers were later arrested.

Elaine did not know about the incident until Kevin's release. She is grateful to Steve for the way he acted in a difficult situation.

Achievements

Elaine has made a huge contribution to the development of Wynn Resorts. Steve was in charge of investments and construction, and she was in charge of aesthetics. Every fine detail in Wynn's establishments, from staff uniforms to signage, is due to her.

Elaine was uncomfortable when she arrived in Las Vegas in the 60s. The institution emphasized the sexual atmosphere - striptease, can-can. Wynn Casino has raised the bar for the entire Las Vegas Strip. Building grandiose objects with fantastically expensive decoration, they forced competitors to do the same. It changed the city, accelerating its development.

Elaine served on the executive committee of the Educational Policy Research Consortium. She was appointed to the Nevada Blue Ribbon School Reform Task Force in 2011 and served on the State Board of Education in 2013 and 2015. President Barack Obama appointed her to the Board of Trustees of the Kennedy Center for the Performing Arts in 2011. He is co-chair of the Los Angeles County Museum of Art (LACMA).

Operated casinos and hotels in the table (as of 2022).

Philanthropy and Art

Elaine Wynn is a philanthropist and often donates money to human rights, educational and health organizations. She also buys works of art and exhibits them in museums or her own casinos. In 2017, the businesswoman donated $1,000,000 to Planned Parenthood, a women's healthcare organization. That same year, she donated $50,000,000 to help build a new building for the Los Angeles County Museum of Art. Wynn also funds the Smith Center for the Performing Arts and is chairman of the UNLV Foundation, which raises funds for the University of Nevada. Serves on the National Board of Directors of Communities in Schools, a non-profit organization that helps underprivileged students.

In 2013, Elaine bought Francis Bacon's Three Studies of Lucian Freud at auction for $142,400,000. The painting is on display at the Portland Museum of Art. Until May 11, 2015, this was a record purchase.

In 2011, Wynn Macau Limited purchased a group of porcelain vases from the Jiaqing period (1796–1820) at Christie's for £8,000,000 ($12,000,000). The art objects were returned to the city of Macau and exhibited at the Wynn Palace. Also purchased were Louis XIV's The Emperor on a Journey tapestry and a Ming Dynasty sculpture that can be seen at Wynn Macau.

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Where she lives

Elaine lives in a luxurious mansion on the grounds of the Southern Highlands Golf Club, located in the Southwest foothills of Greater Las Vegas. This is an elite area in which all houses are guarded around the clock. Many mansions are hidden behind lush trees so that they cannot be seen from the street.

Elaine Wynn has long been involved in gambling, but remained in the shadow of her famous husband. Now her business empire is one of the largest in the world of gambling. She has had a significant impact in Las Vegas and Macau, setting the bar incredibly high for the level of establishments, putting the grandeur of the design and quality of service at the forefront.