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Early in his career he oversaw the construction and operation of several notable Las Vegas and Atlantic City hotels, including the Golden Nugget, the Golden Nugget Atlantic City, The Mirage, Treasure Island, the Bellagio, and Beau Rivage in Mississippi, and he played a pivotal role in the resurgence and expansion of the Las Vegas Strip in the 1990s. In 2000, Wynn sold his company, Mirage Resorts, to MGM Grand Inc., resulting in the formation of MGM Mirage (now MGM Resorts International). Wynn later took his company Wynn Resorts public in an initial public offering and was Wynn Resorts' CEO and Chairman of the Board until February 6, 2018, when he announced his resignation. He is a prominent donor to the Republican Party, and was the finance chair of the Republican National Committee from January 2017 to January 2018, when he resigned amid sexual misconduct allegations.
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Through Wynn Resorts, he has overseen the construction and development of several luxury resorts, opening Wynn Las Vegas in 2005, Wynn Macau in 2006, Encore Las Vegas in 2008, Encore at Wynn Macau in 2010 and Wynn Palace in Macau in 2016, and Wynn Everett near Boston which opened in June 2019 under the name Encore Boston Harbor. In 2006, Wynn was inducted into the American Gaming Association Hall of Fame. Steve Wynn was born Stephen Alan Weinberg in New Haven, Connecticut on January 27, 1942.
His father, Michael, who owned a chain of bingo parlors in the eastern United States, changed the family's last name in 1946 from "Weinberg" to "Wynn" when Steve was 4 years old "to avoid anti-Jewish discrimination". Shortly before Wynn's graduation in March 1963, his father died during heart surgery, leaving $350,000 in gambling debts. Wynn relinquished a position at Yale Law School to take charge of his family's bingo parlor in Waysons Corner, Maryland.
In 1980, Wynn began construction on the Golden Nugget Atlantic City in Atlantic City, New Jersey. It was Atlantic City's first and only "locals casino" and the city's sixth casino after the city legalized gambling in 1976. It was the first time Wynn was involved with the design and construction of a casino, and he financed the 0 million project largely with high-yield bonds issued by Michael Milken. Its construction is also considered noteworthy in that The Mirage was the first casino to use security cameras full-time on all table games. Wynn's next project, Treasure Island Hotel and Casino, opened in the Mirage's old parking lot on October 27, 1993, at an overall cost of 0 million.
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The establishment was the home of the first permanent Cirque du Soleil show in Las Vegas. In 1995, Wynn's company proposed to build the Le Jardin hotel-casino in the marina area if the state of New Jersey built a road that connected to the hotel-casino. The company had also agreed to allow Circus Circus Enterprises and Boyd Gaming to build casinos on the site, but later reneged on the agreement.
While the road, called the Atlantic City-Brigantine Connector, was eventually built, Le Jardin was cancelled after the company was acquired in 2000 by MGM Grand Inc., which later built the Borgata, in a joint venture with Boyd Gaming, on the site. Wynn's company Mirage Resorts oversaw the construction of the Bellagio, which at the time was the most expensive hotel in the world. Like Wynn's previous resorts, the Bellagio features an extensive water show on the Strip.
The architect was Jon Jerde of The Jerde Partnerships, and construction was undertaken by Wynn's company Mirage Resorts, Inc. When built, the Bellagio was the most expensive hotel in the world.
In front of the hotel are the Fountains of Bellagio—shooting fountains choreographed to music that "dance" on the hotel's 8.5 acre man-made lake—which are now considered Las Vegas landmarks. The Bellagio is credited with starting a new spree of luxurious developments in Las Vegas. Among these developments include The Venetian, Mandalay Bay, and Paris Las Vegas.
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Wynn brought Mirage Resorts' style to Biloxi, Mississippi in 1999, where he oversaw development of the 1,835-room Beau Rivage. Themed to blend Mediterranean beauty with Southern hospitality, the resort was part of a building boom that established Biloxi as a regional tourism center along the Mississippi Gulf Coast. Beau Rivage was originally the name Wynn wanted to give the Bellagio, though he had decided on Bellagio after vacationing in the Italian region of the same name. The casino was initially located on a series of floating barges, as local law confined all casinos to mobile marine vessels at the time. The hotel, restaurants, and associated facilities were constructed on land. for $6.6 billion ($21 per share) in June 2000 to form MGM Mirage. Wynn became a billionaire in 2004, when his net worth doubled to $1.3 billion. Five weeks before the deal was closed (April 27, 2000) Wynn purchased the Desert Inn for $270 million. On April 28, 2005 he opened his most expensive resort at the time, the Wynn Las Vegas, on the site of the former Desert Inn. Built at a cost of $2.7 billion, it was the largest privately funded construction project in the nation as of 2005.
In the summer of 2008, hiring began for Encore Las Vegas, the newest in Wynn's collection of resorts. The tower of Encore is modeled after the Wynn Las Vegas tower, and they share the same "property" though they are separate hotels.