Question 1 : What are Wynn Resorts’ distinctive resources and competencies ?
Wynn Resorts Limited is a company which operates in casino and gambling industry in the US and Macau. It was created by Steven Wynn and made intitial public offering on NASDAQ on Octorber 25, 2002. The company own Wynn Las Vegas Resorts & Country Club, Encore at Wynn Las Vegas in the US and in Macau, the company have Wynn Macau Resorts and Encore at Wynn Macau. It is undeniable that one of the element, which made the success of Wynn Resorts is that company has the advantage about distinctive resources and competencies.
First of all, the significant important resources of Wynn Resorts is Steven Wynn. He has “more than 30 years experience” in gambling industry with different positions from bartender to manager. Moreover, he also “can be seen regularly on the casino floor, talking with customers and employees”. Therefore, he know averything about gambling industry and understand what is gambling industry need also how to do it. Another point is the strategy vision of Wynn. He knows that it is a right time to investing in gambling industry. Although there was several casinos in the US in 2002 but he recognizes that they provided the same products, same services. By using different strategis in bussiness, he has been helped Wynn Resorts to gain advantage competitive.
Secondly, property is aslo valuable resource. Good property allow Wynn Resorts can provide for customer the extra recreational services. For example The Wynn Las Vegas Resort and Casino, it is located at Lasvegas Strip and Sands Avenue, where are very famous about hotels, casino and resorts over the world. It not only has 111,000 square-foot casino with 137 table game but aslo has luxury hotel with 2,674 hotel rooms and suites, 36 fairway villas and 6 private entry villas, 18 restaurants, a Ferrari and Maserati car dealership, 76,000 quare feet of high-end retail shops, 18 hole golf course, five swimming pools, full cabanas, a full services spa and salon, and lavish night life… which can meet the requirement of the high class gambler.
The third valuable resource is high brand image. Wynn Resorts’s brand is synonymous with luxury in the casino market. Therefore, Wynn Resorts can charge customers with premium cost with their reputation and high quality services.
Moving to another valuable resource which is also very important. It is the gaming licenses. It it difficult to have licenses in gambling industry because many countries not allow casino exist in their country. However, Wynn Resorts had licenses to open gaming resorts in Macau, which is one of four licenses in Macau. Moreover, currently, Chineses government does not allow casino on it mainland, it in Macau while the life qualaty of Chineses citizens are improving and the number of millionaire are increasing. Thereforce, the demand of gambling entertainment of customer has been increased. As a result, Wynn Resorts has oppotunity to obtain high profits as well as increase their market share in gambling industry in Macau.
Lastly, Wynn Resorts has many senior excutives who joined in company when Wynn,S left MIrage. They have many expriences to operating activities of company. Besides that, the company is also has excellent staffs. The staffs are designed to be the ultimate customer experience in every department of casinos and resorts. Therefore, customers can be satisfied with the service and the attitude of each employee.
Question 2 : What is the industry structure in which Wynn Resorts operates ? Hospitality Sector
Resorts and Casino Industry
Tourists market segment
Middle class market segment
High-end players market segment
Food and beverage Industry
It is easy to see that Wynn Resorts belong to Hospitality Sector. Hospitality Sector have...