Two Way Hard Three | Las Vegas Casino & Design Blog

February 3, 2009

Quickies: Wynn Gets 'Efficient' and IRS Chases Deadbeat to Las Vegas

Posted by Hunter

Two unrelated but interesting stories:

Wynn Resorts has long prided itself on not laying off employees (though that does not seem to apply to the Wynn Design and Development sister company who recently shed several jobs). Today the company announced some measures aimed at keeping people employed, even if that means less pay, less hours and reduced benefits:

http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=1251586&highlight=

a little more from the LV Sun: http://www.lasvegassun.com/news/2009/feb/03/wynn-announces-salary-reductions-reduced-work-week/

In other news, the IRS followed disgraced Fry's executive Omar Siddiqui to The Venetian this week. They are investigating allegations of tax fraud. Siddiqui was a Las Vegas high roller at several properties for years.

http://www.mercurynews.com/topstories/ci_11611329?source=email


Categories: Business of Gaming, Las Vegas Strip, Venetian/LV Sands, Wynn Resorts
Tags: lasvegas, vegas, wynn, wynnlasvegas


Comments

Read archived comments (3 so far)
February 4, 2009 9:56 AM Posted by TC from Boston

As someone who was just a victim of a lay off... I think the Wynn plan is better than option A....but unfortunatly it seems like it leads down a slippery slope that leads back to option A this is only slowly it down a little

February 4, 2009 3:27 PM Posted by Tom M.

I think 2009 is going to be a brutal year in las vegas. The economy is going to be at its worst this year and there are too many new hotels opening. Even if Wynn can weather this year, he will be assualted by the opening of City Center going into 2010. Very tough times for operators, very good competition for consumers, if they have a job that is.

February 5, 2009 8:53 AM Posted by Phil

And to think some people we're thinking Wynn would buy Mirage or Bellagio. Not a chance in hell, unless its the buy of the century.