IT'S A TERRIFIC MOVE FOR WYNN

Implications: Is there anyone out there that didn't see this coming? It was a certainty as soon as the doors opened for the first days business in Macau that a new one would be on the way soon. I suggested this in some previous articles. It will put Wynn Resorts in a position to do whatever they want in the future - their financial future will brighten by many mega wats.

Analysis: Take a look at what Wynn has accomplished in Macau in a very short period of time. Built a spectacular hotel and casino. Sold off a $900 million position to the Packers of Australia. Bolstered their financial strength and became a very profitable company. It's getting better and better. The thought that he may be looking for the right kind of financing is a mute point. The financial community loves this guy. He's the one that makes things happen - and makes everyone that tags along with him have deeper pockets. No need to worry if there is a problem getting investors - the problem might be just how many will be glad handing him.

Generally speaking Steve Wynn has done most things right. He has the magic touch that we would all love to possess. It comes to very few. I must take one exception to his glorious career. He has had some very bad advice regarding the position the Wynn Las Vegas has taken with their recent decision to allow supervisors to split tips with the dealers. It is not a sensible move for a guy with his smarts. The thought of taking income from the dealers and giving it to their supervisors is ludicrous. If, as disclosed by the resort, that the dealers are making more than the supervisors - so what ! You can't take bread out of the little persons mouth to feed their bosses. The resentment caused has been tremendous. Mark my words that you have not heard the last of this situation - the dealer are looking to unionize - a financial disaster if it takes hold. When push really comes to shove, it's my opinion that crisis will only be resolved if Wynn relents. The simple solution is to raise the salaries of the supervisors and give the dealers back their earned tips. It was clear that Wynn did not want the money coming out of his pockets. Easy then, take from your employee's.

The proposed building of a new Macau property is an exciting prospect. Now that Wynn knows the in's and out's of Macau it's not to far fetched to see that these properties will be the real cash cows for Wynn Resorts. It will allow them much more leverage in future planning of other projects. Maybe, like Atlantic City, but very doubtful with Trump as a partner...................