tag:blogger.com,1999:blog-8841356013250880291.post167212519317938525..comments2024-03-15T17:03:45.018-07:00Comments on Las Vegas Blog: Steve Friess' VEGAS HAPPENS HERE: Wynn on Garth, Bette and Beyonce, A TeleplayTHE STRIP PODCASThttp://www.blogger.com/profile/03593322167326380577noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-8841356013250880291.post-43162191137096336742009-12-14T12:30:27.782-08:002009-12-14T12:30:27.782-08:00There was definitely a happy atmosphere after the ...There was definitely a happy atmosphere after the concerts. I went the to Saturday 8pm show and it was hands down the best concert I've been to. I do believe though, that you had to already be a Garth fan in order to get the most out of it. It was like VH1 storytellers and MTV's Unplugged wrapped into one. Many thanks to Steve Wynn and Garth!Davehttps://www.blogger.com/profile/05302237087291662126noreply@blogger.comtag:blogger.com,1999:blog-8841356013250880291.post-3045451454941795942009-12-14T09:00:17.966-08:002009-12-14T09:00:17.966-08:00I think you're misreading the demographic of t...I think you're misreading the demographic of this by making some false assumptions, e.g. that the average Garth fan doesn't have money to eat, stay and gamble at Wynn. Secondly, they're not going after the average Garth fan, who may not have enough money to travel to Las Vegas, much less shop outside of Wal-Mart.<br /><br />They're going after Garth fans who come to Vegas. My parents and their friends are examples of this. They go to Vegas, they love Garth and they can afford to spend at Wynn.<br /><br />The mistake here is this offbase stereotype when someone says "Garth fan:" provincial, Nascar-watching, trailer-park-living Midwestern, poor people. This is a false picture of the demo Wynn is focusing on.<br /><br />Steve's right about the intangibles, and I don't mean HUNCHES that are immeasurable but some DEFINITE revenue streams that are difficult to measure. <br /><br />For example, I had some friends coming out to see Prince at the Rio. I asked them where they were staying, and they answered at the Rio, of course. I asked them why, and they said because they were coming to see Prince and that's where he was playing. I don't think this is all that unusual for first-time Vegas visitors... that even though they're coming for a 4-day trip, they stay at the place that's the central focus of their trip, even though it's only going to last two hours.<br /><br />How do you account for that?<br /><br />-Mike KalilAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-8841356013250880291.post-21907351128595843082009-12-13T17:25:10.935-08:002009-12-13T17:25:10.935-08:00Mike-
Believe it or not, Wynn Resorts this year b...Mike-<br /><br />Believe it or not, Wynn Resorts this year became the second Nevada casino operator (Harrah's was first last year) to earn a perfect 100% HRC Corporate Equality score... And I'll have to double-check my facts, but I'm 90% sure they were also the very first Nevada company to earn a perfect 100% HRC score in its very first year on the index. As Steve F said above, Wynn is a VERY LGBTQ friendly company that's made nice with queer travelers.<br /><br />Gregory-<br /><br />True, true. Staying on the "gay" theme, you'd be surprised by how many of my friends are big country fans... And not just Dolly and Reba, but also Garth. The "country" demographics aren't as monolithic as so many assume.<br /><br />Steve F-<br /><br />Thanks for posting this interview! <br /><br />Since it seems everyone who's anyone on The Strip is pitching for Reid (after all, the election's coming up soon), I don't mind that (after all, I'm also for Reid). Otherwise, it's nice to see a Steve Wynn interview that's less about Milton Friedman economics and George Bush politics, and more about something that Wynn's actually an expert on (Las Vegas casinos).atdnexthttps://www.blogger.com/profile/18339904136472258194noreply@blogger.comtag:blogger.com,1999:blog-8841356013250880291.post-50779594394650709622009-12-12T07:20:40.666-08:002009-12-12T07:20:40.666-08:00Gregory - I agree with you. I don't know why G...Gregory - I agree with you. I don't know why Garth fans are any less likely to eat on property or, certainly, to gamble there. They cross as many demographics as, certainly, Beyonce fans do. In fact, I wouldn't be surprised if the average Garth fan was wealthier than the average Beyonce fan based solely on their ages alone.<br /><br />The reason I had trouble with the math is that I didn't think this whole loss-leader notion existed anymore. Certainly, Wynn was clear for a long time that he felt the shows needed to turn their own profits. That's why he closed AveQ and Spamalot, and folks who went to THOSE shows absolutely were staying, eating and playing at his property. He's obviously gone back to an older model, which is what I was teasing out in this exchange.<br /><br />The math is still tough. The total potential ticket sales take for Garth's shows is $11.25m a year - if every seat is sold and there are no comps. Add in the cost of the plane AND whatever Garth makes and it is, as the commenter said, a huge gamble. But Wynn's also getting an enormous amount of press and what I heard -- since I'm laid up -- is that the resort was humming with a happy energy yesterday. Those are intangibles.THE STRIP PODCASThttps://www.blogger.com/profile/03593322167326380577noreply@blogger.comtag:blogger.com,1999:blog-8841356013250880291.post-32695112666011216272009-12-11T18:41:13.895-08:002009-12-11T18:41:13.895-08:00By making it difficult for generic ticket brokers ...By making it difficult for generic ticket brokers and resellers, Wynn is able to more accurately track his ticket buyers with reservations and gaming/f&b sales, etc. I suspect his confidence that Brooks is a loss leader that generates far more in associated profits may be backed up by his data and analysis. <br /><br />Secondly, the idea that Garth Brooks fans are not profitable is not really supported by the demographics of "country" music especially for foreign fans. There is a misperception that country music excludes a wealth segment and that misunderstanding may be because country music is not considered as "cool" by mainstream media and is often overlooked.GregoryZephyrnoreply@blogger.comtag:blogger.com,1999:blog-8841356013250880291.post-8246419544585270932009-12-11T17:43:36.782-08:002009-12-11T17:43:36.782-08:00I think the issue is that Brooks will draw in sign...I think the issue is that Brooks will draw in significant chunk of people who won't be staying, eating and gambling at Wynn. If Wynn had purchased some of the MGM properties he was rumored to be interested in, one of which was out there like Circus Circus, he could cross market Brooks and recapture more the subsidy.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8841356013250880291.post-32621750751650159452009-12-11T11:44:53.607-08:002009-12-11T11:44:53.607-08:00I heard Kylie Minogue is currently negotiating wit...I heard Kylie Minogue is currently negotiating with unnamed Vegas casinos. Her very first North American Tour did so well this summer she is thinking about a permanent residency in Vegas....Now there's an idea for ya, Steve Wynn!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8841356013250880291.post-2574416596539636752009-12-11T11:36:45.406-08:002009-12-11T11:36:45.406-08:00I wonder how a casino decides when a performer as ...I wonder how a casino decides when a performer as a loss leader starts to make money for the casino. Where is the dividing line? When comparing revenue, how does Garth Brooks really pays for his contract? Maybe this is what Wynn didn't want to reveal. Wynn probably has tools to figure it out, but it is mainly just a hunch, an expensive gamble.<br /><br />Garth Brooks has to consistenly bring gambling revenue to the casino to cover his fees. It looks like Garth didn't compromise as much as Wynn did.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8841356013250880291.post-80654617176542467122009-12-11T08:11:02.886-08:002009-12-11T08:11:02.886-08:00Wynn's been aggressively after the gay travel ...Wynn's been aggressively after the gay travel market for at least five years. The first wedding that took place in the Wynn chapel was Roger Thomas's in fact. Why anyone would think Wynn would be hostile to gays is beyond me. And, no, I chose to stay away from politics -- except for regarding Harry Reid and I'll get to that part -- because the answers were somewhat predictable.THE STRIP PODCASThttps://www.blogger.com/profile/03593322167326380577noreply@blogger.comtag:blogger.com,1999:blog-8841356013250880291.post-86551691528008356192009-12-11T05:03:44.242-08:002009-12-11T05:03:44.242-08:00This is pretty easy to figure out. One of the nig...This is pretty easy to figure out. One of the nights Beyonce played Wynn, the casino won $35 million dollars, because they filled the place up, with some people with deep pockets. Yes he lost money on the show itself, but more than made up with it in the casino. That's the plan with Garth. I just wonder if the average Garth fan, has that kind of money to go dropping in a casino. I guess time will tell us. <br /><br />It just kills me we can't hear this whole interview. :)<br />Its just full of great stuff I'm sure.Brian Feynoreply@blogger.comtag:blogger.com,1999:blog-8841356013250880291.post-58835134529372367162009-12-11T00:12:49.546-08:002009-12-11T00:12:49.546-08:00I was going to ask if you got him to go off into F...I was going to ask if you got him to go off into Fox News Mode, but I'm more amused that the AdSense ad on this page is an Encore LGBT site. Didn't know Wynn Resorts was going for that angle.mike_chnoreply@blogger.comtag:blogger.com,1999:blog-8841356013250880291.post-35303596669949111442009-12-10T20:56:47.460-08:002009-12-10T20:56:47.460-08:00Fascinating.
SGFascinating.<br /><br />SGAnonymousnoreply@blogger.com