A lot of competition

Implications: I think Wynn has a great business plan however I believe he needs to review the terrain and understand that he is not alone

Analysis: What Wynn is proposing is a TON of convention space. If you think about it, Has Wynn or his current set of executives ever operated such an expansive amount of space? I think not! In addition The Fountainbleau will have significant meeting space as will Cosmopolitan which aids Echelon and City Center respectively. The entire city of Las Vegas is beginning to evolve to possibly an overdependence on
conventions and company meetings. This is similiar to the "family attractions" which failed and now what is occurring with the recession today. It used to be that vegas was "recession resistant" but as the city has evolved to more and more Non-Gaming revenues, it becomes more prone to a recessionary environment. The public will withhold Food and Beverage, Retail and Entertainment revenues to preserve for Gaming as well as fight like hell for the lowest room rates. Dare I wander too far from the article subject Wynn is always one step ahead of everyone, whether it is quicksand we will have to wait and see....