Wynn is expecting an average of 12 applications for everyposition available, which would translate to 60,000 applications.For those without the computer necessary to apply online, Wynn saysit will open an employment center equipped with 32 computer kiosks.It will be staffed by 100 employees fluent in numerous languages,including Spanish, Cantonese, Mandarin and German.

|

The new jobs, for both Encore and Wynn Las Vegas, will helpmitigate rising unemployment in the state, which hit 6.4% in June,a 14-year high. The last time the rate was higher than 6.4%, it wasFebruary 1994, according to the Nevada State Department ofUnemployment.

|

Encore at Wynn Las Vegas is a 2,034 unit, all-suites resort.Looking much like the first, the high-rise tower will house a72,000-sf casino, five new restaurants; 11 retail outlets; sevenbars and lounges; a nightclub; a spa/salon, and 60,000 sf ofmeeting space. For comparison, the first tower has 2,716 rooms, a111,000-sf casino; 22 food and beverage outlets; 200,000 sf ofmeeting space; 74,000-sf of retail, and a Ferrari and Maseratidealership.

|

In May, amid the declining economy, Wynn Resorts chief SteveWynn told analysts that despite the company's 20% drop in firstquarter profit – which he attributed to "bad luck" at the tables—hewould not offset the results by reducing his workforce or servicelevels.

|

"In my career I've never had a layoff, in Las Vegas or anywhereelse, and don't intend to do it [now]," Wynn told analysts. "Weconsider employee morale and the feeling of security our employeeshave is the most important asset the company owns, more than ourbuildings and even our concessions; and when you do layoffs,everybody left says 'who's next?', and that's completely negativeand counterproductive to what we are trying to do. So no matterwhat the short-term fluctuations in the American economy are I amtelling anybody who is interested in our company [that] under nocircumstances—under no circumstances—will I give any consideration,even for a second, to changing service levels or disrupting ourworkforce."

|

As well, Wynn said he's gone through six slowdowns in Vegasprior to this one and this is as yet by no means the worst. "Thething to look at more than anything else is non-casino revenue, andyear-to-date [including April] we are at $270.7 million versus$264.3 million last year," he told analysts in May. Wynn is due torelease its mid-year results later this week.

|

Earlier this month, Wynn reported preliminary second quarternumbers, saying it expected operating income at Wynn Las Vegas on aGAAP basis would come in somewhere between $18 million and $22million, a two-thirds decrease from the second quarter of 2007,when operating income was $63.4 million on a GAAP basis. Withinthat, it appears non-casino revenue held up fairly well, RevPAR forthe hotel coming in at $292, only 3% below 2Q07, according toWynn.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.