{"id":21135,"date":"2018-02-09T08:02:51","date_gmt":"2018-02-09T16:02:51","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=21135"},"modified":"2018-02-09T08:04:06","modified_gmt":"2018-02-09T16:04:06","slug":"wynn-whats-in-a-brand","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wynn-whats-in-a-brand\/","title":{"rendered":"Wynn: What’s in a brand?"},"content":{"rendered":"

More than the trouble (and cost) it takes to replace it, experts conclude. Another reason for keeping the founder’s name on Wynn Resorts<\/strong> is one that he would not find \"\"flattering:\u00a0\u201cI think the impact on Wynn Resorts will be short-lived, in part because I doubt most people link these resorts with Steve Wynn<\/strong> or are even aware of him,\u201d opined Stanford University<\/strong> marketing professor Itamar Simonson<\/strong>. Ouch! Even if people had no idea of who Steve Wynn is, his casinos still had brand equity<\/a>. Donald Trump<\/strong>‘s hotels have performed well despite his numerous peccadillos — although the name “Trump” was the kiss of death for an Atlantic City<\/strong> casino going back at least 10 years. There it meant a third-rate, shabby gaming experience.\u00a0College of Southern Nevada Women\u2019s Alliance<\/strong> Co-chair Sondra Cosgrove<\/strong> argues that keeping the Wynn name won’t resound well with Millennials<\/a>, who gravitate to properties with value systems familiar to their own. Even so, it’s going to take a lot more than skywriting<\/a> by UltraViolet<\/strong> to convince Wynn Resorts’ board that their company’s name is tainted.<\/p>\n

UltraViolet might not want to place too much hope in the younger generation, whose reactions to the hypothetical question renaming Wynncore were surprisingly callous<\/a>. Tourist Ronnie Harris<\/strong> shrugged it all off, saying,\u00a0\u201cWhen you start going back 20 years on people \u2026 you can\u2019t kill a man if someone said something years ago. There\u2019s not a woman in America<\/strong> that hasn\u2019t been harassed in some way. Sure, we\u2019ve got to do better at it, I \"\"guess, but I just don\u2019t get going back so many years.\u201d Yeah, what’s a traumatic event that’s scarred a person for life? An unidentified woman said Wynn should be presumed innocent until proven guilty, as though he were going on trial. I’ve got a hot flash for you, lady: He’s not. As Nevada<\/strong> gubernatorial candidate Chris Giunchigliani<\/strong> said,\u00a0\u201c[Wynn] must believe that the women have been truthful\u201d to have stepped down so precipitously.<\/p>\n

Politicians are running away from Wynn or going into hiding, as reader Howard Park<\/strong> said it, at warp speed. First and foremost was Clark County<\/strong> Commissioner Steve Sisolak<\/strong>, who donated $15,000 Wynnbucks to the Shade Tree Shelter<\/strong> for battered \"\"women as soon as the accusations emerged, making him our Man of the Week. Quoth Sisolak,\u00a0\u201cI thought it was better spent there than on some TV commercials.\u201d Even the the Trump administration, normally a bunch of chatty Cathies, is keep mum about Wynn.<\/p>\n

\u201cThe [Wynn] brand is powerful and associated with the ultimate in luxury and opulence in Vegas,\u201d says Las Vegas Advisor<\/em> Publisher Anthony Curtis<\/strong>. And outside Vegas? There’s mounting pressure in the Boston<\/strong> media to take the name off Wynn Boston Harbor<\/strong> (which sounds like a shipping facility anyway). Perhaps new CEO Matt Maddox<\/strong> can reach back into Steve Wynn’s playbook and rename it Le Reve<\/strong> (the initial moniker\u00a0of Wynn Las Vegas<\/strong>). The name of Wynn Boulevard<\/strong> might also get wiped off<\/a> the Las Vegas<\/strong> map, if Alison Perris<\/strong>‘ petition drive is successful.\u00a0\u201cWhy,” she asked, “should Las Vegas honor a man who is a serial misogynist with multiple accusers and more coming every day by continuing to have a street named after him?\u201d<\/p>\n

Figuring out how much it would cost to change out all the branded gaming chips takes a distant second place at Wynncore to shareholder lawsuits. At least one has been filed<\/a>, by the\u00a0Norfolk County Retirement System of Massachusetts<\/strong>. It charges Steve \"\"Wynn and his board of directors with\u00a0\u201cdisregarding a sustained pattern of sexual
\nharassment and egregious misconduct …\u00a0Mr. Wynn\u2019s reported decades of sustained egregious misconduct involving the company in his position and the board\u2019s and general counsel\u2019s intentional disregard of the misconduct, as alleged herein, has caused substantial losses and injury to the company, the value of the business and expansion projects and the continued operation and licensure of the company\u2019s core business.\u201d<\/p>\n

The board is also accused of such laissez-faire<\/em>\u00a0conduct as leasing Steve Wynns private art collection for $1 a year — a sweetheart deal if ever there was one. And as for the hidden payment of $7.5 million to settle a paternity suit,\u00a0\u201cThe board knew of allegations of egregious misconduct by Mr. Wynn, yet did nothing to address the existential risks posed to the company or to prevent defendant Wynn from continuing with egregious misconduct.\u201d<\/p>\n

As for the rest of the industry, it’s back to fumbling around for its car keys, not having Wynn to show them the way. “The industry is going to need more visionaries and \"\"leaders to step up,\u201d said University of Nevada-Las Vegas<\/strong> professor David G. Schwartz<\/strong>, as though such visionaries were thick on the ground. News flash: They’re not. As Denstone Group<\/strong> CEO Oliver Lovat<\/strong> told reporters, engaging in wishful thinking<\/a>,\u00a0\u201cI was hoping the allegations were not proved to be true.\u00a0I think nobody\u2019s happy about this or takes joy in this. It is very sad for Las Vegas and the industry in general.\u201d Wanna bet, Oliver? I can think of some cocktail waitresses, manicurists and masseurs who are probably very happy.<\/p>\n

As Wynn victim Cynthia Simmons put it,\u00a0\u201cI took more heat than he did for all those years, and now he can\u2019t take it for a few days? He\u2019s got the money and power to ride this stuff out, and he couldn\u2019t even take it for a week. He\u2019s getting a taste of his own medicine.\u201d\u00a0\u201cI know the struggles that a lot of those girls went through. They would \"\"always come over to my house and talk to my mom,\u201d added Raylene Cottrill<\/strong>, daughter of Earlene Wiggins<\/strong>, the grandmother Wynn allegedly forced to service him because he’d “never had a grandmother before.”<\/p>\n

Warned Eilers & Krejcik<\/strong>\u00a0Managing Director\u00a0Chris Grove<\/strong>,\u00a0\u201cIt is more likely than not that this is not the last chapter for the gaming industry.\u201d Wynn’s resignation isn’t the end of his troubles, either. Nevada Gaming Control Board<\/strong> Chairwoman Becky Harris<\/strong> announced that the investigation would continue<\/a>, raising the distinct — if distant — possibility that Steve Wynn could lose his gaming license or the likelier outcome in which Wynn Resorts is fined for its lax corporate governance.<\/p>\n

Wall Street<\/strong> analysts mused upon\u00a0a post-Steve era, without coming to any hard conclusions<\/a>. Wynn West<\/strong> and Wynn Paradise Park<\/strong> are like the chicken and the pig\u00a0in a\u00a0egg-and-ham breakfast. The chicken has an interest but the pig is committed. Maybe some of the frills get pruned from Paradise Park (like that tacky giant ape) but Wynn Resorts is too far down that road to pull back now. As for Wynn West, does the company want to wait and see how Resorts World Las Vegas<\/strong> performs, plunge in or stockpile capital in anticipation of a Japan<\/strong> casino?<\/p>\n

To put a bow on all this, we finally have confirmation that the meeting that sparked an \"\"11-plaintiff lawsuit against Steve Wynn was one and the same<\/a> as the famous “fat ass” meeting, in which Wynn called a group of generally older waitresses on the carpet. He supposedly told them how great Bellagio<\/strong> was going to be “and none of your fat asses are going over there.” As plaintiff Charlotte Arrowsmith<\/strong> said,\u00a0\u201cThe only righteous thing to happen to him is if they pull his gaming license. I\u2019m praying that happens.\u00a0It won\u2019t hurt his company \u2014 he has all the money he ever needs \u2014 but it will hurt his ego.\u201d<\/p>\n

That’s where it will hurt him the most.<\/p>\n","protected":false},"excerpt":{"rendered":"

More than the trouble (and cost) it takes to replace it, experts conclude. Another reason for keeping the founder’s name on Wynn Resorts is one that he would not find flattering:\u00a0\u201cI think the impact on Wynn Resorts will be short-lived, … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":8689,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,24,133,42,120,171,53,112,33,25,232,32,9,38,233],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/21135"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=21135"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/21135\/revisions"}],"predecessor-version":[{"id":21136,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/21135\/revisions\/21136"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media\/8689"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=21135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=21135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=21135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}