To know if what is the overall strategy of Steve Wynn to make Wynn Resorts, Ltd. on the right track and quite a remarkable company.
2.) Statement of the Problem
There are three problems which I found out in the case, and these are the three challenges that Wynn will have to face, and the future may throw some curveballs along the way. First is need to secure a way to maintain the competitive advantage as increased competition is introduce both domestically and abroad into the gaming industry. Second, The Macau government reserves the right to take control of the Wynn Casino in 2017; this would be detrimental to the profits for the company, and some solutions will need to be devised to ensure that the survival of the company is not majorly dependent on the revenues generated by Wynn Macau resort and casino. A third concern about future success, but certainly not the final concern, is the loss of Steve Wynn himself. Losing Steve Wynn would mean losing his expertise, passion and governmental ties. In the most likely scenario, a loss of Steve Wynn may result in the sale of the firm to a competing company, such as MGM Inc.
3.) Alternative Courses and Actions
Wynn must focus on differentiating the company by concentrating on the atmosphere and design of the resorts. Wynn Resort must enhance customer’s service and luxury as full-service provider.
Wynn must not only focus to target high-end gaming customers, but he must also offer affordable goods and services to the middle-income clients. This segment includes vacationers and younger people looking for relatively inexpensive place to say with the understanding that most of their budget will go to dining and entertainment.
1. http://www.studymode.com/essays/Swot-Analysis-Wynn-Ltd-946073.html 2. http://www.investingvalue.com/investment-leaders/steve-wynn/index.html