Wynn's Las Vegas Comeback

With Le Reve, set to open in April 2005 at an estimated price of $2 billion, Mr. Wynn has an entirely new tactic: He's aiming for a new crowd -- younger, more-affluent business travelers who were once disdained in Las Vegas because they didn't gamble much. Now, as hotels search for new growth, their expense accounts and ability to fill rooms midweek are more appealing... nticipation of his return has already helped set off an arms race among rival casinos to head off Le Reve with bigger suites, cooler technology and private high-roller rooms. Despite flat visitor arrivals and pressure on their margins, Bellagio, Mandalay Bay and the Venetian are erecting $825 million in super-luxury hotel towers and other improvements." Editor's note: Access to the full text of this article requires a subscription to the Wall Street Journal.

Thanks to Chris Steins